The Peoples Republic of China on Thursday said the country’s loans to Nigeria are of mutual benefit.

Cui Jianchun, Chinese ambassador to Nigeria spoke to reporters at a seminar, “Learning from the Chinese Communist Party’s history and creating a brighter future”, which took place at the University of Abuja.

Jianchun explained that Nigeria and China had a history of good friendship and bilateral relations.

The envoy regretted that some super powers were painting a bad picture of China’s intentions.

“Some politicians have tried to use the colonial system mindset to say if I lend you money and you cannot pay me back, you will lose your sovereignty”, NAN quoted him as saying.

The official said China is working with Nigeria on rail because money is now a big constraint, just like in 1978 when his country had no money.

“In China, we did not have money, we did not have technology, and we did not know how to manage the economy.”

Jianchun recalled that when the Communist Party of China (CPC) was founded, it had just a little over 50 members.

The ruling party currently has more than 95 million members in a country of 1.4 billion people, making it the largest governing party in the world.