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Nairaland Forum / Nairaland / General / Politics / China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi (1661 Views)
Paternity Case: Sanwo-olu Invokes Immunity Clause To Evade DNA Test / Agbakoba, Quakers Differ On China Loan ‘Sovereignty Clause’ / China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" (2) (3) (4)
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
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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: 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: You did well bruh. You should be proud of yourself. Sai Baba till 2050 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: 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: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 .
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Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by Nobody: 3:16pm On Jul 31, 2020 |
festacman: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?
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Re: China Loan: I Don't See Anything Wrong With Sovereignty Clause - Amaechi by NigeriaIsDoomed: 3:42pm On Jul 31, 2020 |
BlackfireX: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
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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: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: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: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: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: 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: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 ? |
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