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China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi - Politics - Nairaland

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China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Penaldo: 1:48pm On Jul 31, 2020
The Minister of Transportation, Mr. Rotimi Amaechi, has said that he didn’t know about the sovereignty clause in the Chinese loan agreement until recently, stressing that though nothing is wrong with the clause.

The minister who spoke to journalists on Wednesday at Idu train station in Abuja during a COVID-19 protocol compliance and inspection, said the implication of the clause is that if Nigeria defaults on loans repayment, China has right to take over those assets and run them until it recovers its money.

The House of Representatives in their probe of Chinese loans to Nigeria found that the agreements ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

But Amaechi said: “I am appearing before the House of Representatives again on the 17th of August.

“I just got to know that there is a clause in the agreement but it’s simple. You can’t take away the sovereignty of Nigeria but the implication is that if at the end of the day, you don’t pay the loan, the Chinese will take whatever they want without the nation talking about sovereignty.

“But what the Chinese normally do is that they go after the same asset to recover their money. So what is wrong with that? You are asking for $5.3bn. Just give that sovereignty. Now for me, the National Assembly in its wisdom thinks that is wrong, then they should tell us how to get the money to build these infrastructures. The loan to construct Ibadan to Kano rail is $5.3bn, and is being planned,”.


He said there was nothing wrong with the investigation but that it should not jeopardise the government’s means of raising capital for long-term infrastructure development.

On the Abuja-Kaduna rail service loan, Amaechi said the Ministry of Finance, Budget and National Planning has already opened an account where operating surpluses would be deposited monthly to raise money to start the $1.1bn loan repayment.

https://www.inform.ng/post/china-loan-i-dont-see-anything-wrong-with-sovereignty-clause-amaechi

1 Share

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by BlackfireX: 2:10pm On Jul 31, 2020
We are doomed



How did I vote for this colossal chaos??
what was I thinking??
what kind of bewitchment is this??

6 Likes

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by NaijaRoyalty(m): 2:14pm On Jul 31, 2020
BlackfireX:
We are doomed

But you voted Buhari and his useless and thieving APC na.

Tell this useless government that China don't joke with there money .

They mean every agreement written in the document this government foolishly signed .

7 Likes 1 Share

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Unigrad: 2:22pm On Jul 31, 2020
Amaechi and co were only looking at what will enter their pockets forgetting to understand the details of what they signed for. Let's see how it goes.

5 Likes

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by EzzyCarter: 2:27pm On Jul 31, 2020
Well, I see nothing wrong with Amechi's statement. All I know is he needs a brain check

4 Likes

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by EzzyCarter: 2:28pm On Jul 31, 2020
BlackfireX:
We are doomed



How did I vote for this colossal chaos??
what was I thinking??
what kind of bewitchment is this??

You did well bruh. You should be proud of yourself. Sai Baba till 2050 grin

5 Likes 1 Share

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nobody: 2:29pm On Jul 31, 2020
How can Amaechi see anything wrong?

You graduated with a third class dummy! Olodo rabata!

5 Likes

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by festacman(m): 2:29pm On Jul 31, 2020
BlackfireX:
We are doomed



How did I vote for this colossal chaos??
what was I thinking??
what kind of bewitchment is this??

If banks give loans with secured way of recovering their money upon default, how much more another sovereign country. Your leaders looted your money and you want free money from China. No way. There is no free lunch. That Nigeria wasted its money fighting apartheid and running ECOMOG without any benefits, doesn't mean China will do the same. No lender will give money to Nigeria now without tight conditions to recover at least the loan sum.

4 Likes

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by thesicilian: 2:29pm On Jul 31, 2020
BlackfireX:
We are doomed



How did I vote for this colossal chaos??
what was I thinking??
what kind of bewitchment is this??
You haven't seen anything yet.

1 Like

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nigeriabiafra80: 2:30pm On Jul 31, 2020
Ok
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Chelsealivepool: 2:41pm On Jul 31, 2020
Nigerian Leave amehchi along, sai baba sai china still 2030 onti zombies get sense....
Like Tanzania President said only a mad country accept loans from China...

1 Like

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by SarkinYarki: 2:41pm On Jul 31, 2020
You never see anything wrong with anything wrong right from time ...Well that clause was put there to protect the Chinese from your dubious Nigerian govt ...A beggar has no choice
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Racoon(m): 2:52pm On Jul 31, 2020
Just imagine the people it took a dull president to appoint as minister.Nigeria is still hanging in the balance with the P & ID case yet Amaechi is talking shitcrap.What does these people take Nigeria for?

1 Like

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by adekolaelect(m): 2:55pm On Jul 31, 2020
When you wasted your limited resources You will borrow unlimitedly .what make to waste your limited resources will also make you to run into unlimited dept with borrowed funds which can take away you natural resources if care is not taking .Now Dubious Nigerians with their Government expected China to give out their billions dollars to Nigerians Dubious country without collaterals ? Chinas work for their money while Nigeria looting from their natural resources this make Nigerians to believe that China can give their money out anyhow . Nigerians looting their resources without probe or tracking simply because they don't work to get it .

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nobody: 3:16pm On Jul 31, 2020
festacman:


If banks give loans with secured way of recovering their money upon default, how much more another sovereign country. Your leaders looted your money and you want free money from China. No way. There is no free lunch. That Nigeria wasted its money fighting apartheid and running ECOMOG without any benefits, doesn't mean China will do the same. No lender will give money to Nigeria now without tight conditions to recover at least the loan sum.
Keep sentiments aside, the govt has failed since 1960's but thats not an excuse to cede soverignty for a piece of loaf. Without the so-called rail would we die? The problem is the controversial caluse is non-specific meaning the chinese can take whatever they want ordinarily and we cant complain.
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by dlaw70(m): 3:19pm On Jul 31, 2020
[quote author=Penaldo post=92301077]

The Minister of Transportation, Mr. Rotimi Amaechi, has said that he didn’t know about the sovereignty clause in the Chinese loan agreement until recently, stressing that though nothing is wrong with the clause.

The minister who spoke to journalists on Wednesday at Idu train station in Abuja during a COVID-19 protocol compliance and inspection, said the implication of the clause is that if Nigeria defaults on loans repayment, China has right to take over those assets and run them until it recovers its money.

The House of Representatives in their probe of Chinese loans to Nigeria found that the agreements ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

But Amaechi said: “I am appearing before the House of Representatives again on the 17th of August.

“I just got to know that there is a clause in the agreement but it’s simple. You can’t take away the sovereignty of Nigeria but the implication is that if at the end of the day, you don’t pay the loan, the Chinese will take whatever they want without the nation talking about sovereignty.

“But what the Chinese normally do is that they go after the same asset to recover their money. So what is wrong with that? You are asking for $5.3bn. Just give that sovereignty. Now for me, the National Assembly in its wisdom thinks that is wrong, then they should tell us how to get the money to build these infrastructures. The loan to construct Ibadan to Kano rail is $5.3bn, and is being planned,”.


He said there was nothing wrong with the investigation but that it should not jeopardise the government’s means of raising capital for long-term infrastructure development.

On the Abuja-Kaduna rail service loan, Amaechi said the Ministry of Finance, Budget and National Planning has already opened an account where operating surpluses would be deposited monthly to raise money to start the $1.1bn loan repayment.

https://www.inform.ng/post/china-loan-i-dont-see-anything-wrong-with-sovereignty-clause-amaechi[/quote. Amaechi! Amaechi!! Amaechi!!! How many times did I call you?
So na so u wan take rule us?

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by NigeriaIsDoomed: 3:42pm On Jul 31, 2020
BlackfireX:
We are doomed



How did I vote for this colossal chaos??
what was I thinking??
what kind of bewitchment is this??
so Una don wake up bah? The whole of Africa is doomed. Check Zambia, Kenya and other shitholes in Africa you will understand that Africa is truly doomed.

2 Likes

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by abduljabbar4(m): 4:23pm On Jul 31, 2020
My biggest question for the Critics is this:

Is China a father Christmas? If you borrow their money and squander it then they have every right to seize your assets as repayment. Banks do that all the time.

I'm 100% sure we wouldn't be hearing this noise if it was with the US that we signed this deal.

3 Likes 2 Shares

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by manmade(m): 4:36pm On Jul 31, 2020
.
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by manmade(m): 4:38pm On Jul 31, 2020
abduljabbar4:
My biggest question for the Critics is this:

Is China a father Christmas? If you borrow their money and squander it then they have every right to seize your assets as repayment. Banks do that all the time.

I'm 100% sure we wouldn't be hearing this noise if it was with the US that we signed this deal.
Bank will only take your collateral and I knew you won't sign an agreement with a clause that bank should take anything from your household in case of defaults, who knows they could go for your sis or anything they considered precious to you .

1 Like

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nobody: 4:58pm On Jul 31, 2020
EzzyCarter:
Well, I see nothing wrong with Amechi's statement all I know is he needs a brain check
In its entirety, I see nothing wrong at all.
After all, of what use is NIGERIA to the Ordinary everyday Nigerian..?
.... a NATION bedeviled with so much ANGUISH.
If the Chinese want, they can come in and takeover the leadership as well, since they may possibly Institute their DEATH SENTENCE POLICY on Corruption.

What Amaechi is saying is simple.
AMAECHI is saying that you can't be poor and useless and still have CHOICE.... except you want to remain perpetually impoverished.

MY ANGER:
U could imagine that when such LOANS are successfully secured, the NATIONAL HYENAS we have in Nigeria will envelop it and devour it, still leaving Nigeria miserable.

1 Like

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by SmellingAnus(m): 5:02pm On Jul 31, 2020
Penaldo:



The minister who spoke to journalists on Wednesday at Idu train station in Abuja during a COVID-19 protocol compliance and inspection, said the implication of the clause is that if Nigeria defaults on loans repayment, China has right to take over those assets and run them until it recovers its money.
I also don't see anything wrong in this clause except Nigerian Government was trying to scam the Chinese by not paying back the loans they took...
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nobody: 5:03pm On Jul 31, 2020
Racoon:
Just imagine the people it took a dull president to appoint as minister.Nigeria is still hanging in the balance with the P & ID case yet Amaechi is talking shitcrap.What does these people take Nigeria for?
Did you read through his Statement...?
Please of what use is Nigeria to you now...?
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by flokii: 5:08pm On Jul 31, 2020
So far it's in Nigeria's name, Amaechi or whoever can't single-handedly decide to take loan talkless of our Sovereignty..

Who tha fvck does he think he is? Is it his family that will pay back the loan??

Useless, incompetent minister

1 Like

Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by EzzyCarter: 5:16pm On Jul 31, 2020
EVILFOREST:

In its entirety, I see nothing wrong at all.
After all, of what use is NIGERIA to the Ordinary everyday Nigerian..?
.... a NATION bedeviled with so much ANGUISH.
If the Chinese want, they can come in and takeover the leadership as well, since they may possibly Institute their DEATH SENTENCE POLICY on Corruption.

What Amaechi is saying is simple.
AMAECHI is saying that you can't be poor and useless and still have CHOICE.... except you want to remain perpetually impoverished.

MY ANGER:
U could imagine that when such LOANS are sfuccessfully secured, the NATIONAL HYENAS we have in Nigeria will envelop it and devour it, still leaving Nigeria miserable.


Talk about hitting the nail on the head. You've just summed up the heart-wrenching situation of the country...
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Afolabimills(m): 5:54pm On Jul 31, 2020
Thunder fire u there u thief
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by AroleOduduwa2: 5:56pm On Jul 31, 2020
You won’t see any of those brain dead zombie on this thread, but if it’s about one ward member who decamp to that broom party, you’ll find them littering the thread
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by wirinet(m): 6:04pm On Jul 31, 2020
veeshock:

Keep sentiments aside, the govt has failed since 1960's but thats not an excuse to cede soverignty for a piece of loaf. Without the so-called rail would we die? The problem is the controversial caluse is non-specific meaning the chinese can take whatever they want ordinarily and we cant complain.
Yes, we will die without a so called rail system. Have you seen any country with a population of more than 50 million without a functional railway system? Do you know how many people die in our roads everyday? Are you away that we can never graduate from a developing nation to a developed one without a functional railway system?
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Macphenson: 6:06pm On Jul 31, 2020
Okooo
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nobody: 6:59pm On Jul 31, 2020
Because you have myopia perhaps.

You should see your doctor ASAP.
Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Captainrambo2: 7:48pm On Jul 31, 2020
Is this amechi alright ? undecided

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