'You r on oath nt to reveal cofidential matters of d govt?' Stay quiet.' It is nt of u to pay back',abi? Worry less biko,'U r challenging!' Abeg o, pls be quiet n enjoy ur office o.

I think it's time to start hitting the table and damn the consequences. Propose a slash of remuneration allocated to the national assembly in the next fiscal year. Dare them. If they refuse nobody gets anything.

phylshan:


https://www.google.com/amp/s/thenationonlineng.net/china-loan-amaechi-challenges-nass-to-publish-terms-of-agreement/amp/

Nigeria is officially Chinese Colony �

Starboysolo1:
Clueless administration.
It will not be well with anyone that played a part to emergence of this administration.

You are just a s
useless man. Next time, always learn to read to understand...

I laugh in Chinese Chin cho

Reasons why most Nigerians fail exam is misinterpretation of facts .I agree with your explanation,the contract is one major contract involving different project .some of the money have been released by the Chinese govt.what he is saying is that the present probe by the national assembly may cause the Chinese govt not to release the other money .I was just thinking if Nigerians expect to borrow money without a collateral lol

donblanco:


Read it again ,he talked about other loans, ibadan to Kano, Lagos to calabar line that they are still working on,thats what he is referring to.Hope that clears that.

Maybe Nigeria should be colonized by China because we have really failed in governing ourselves. Meanwhile, borrowing is a curse. It means Nigeria is cursed if we keep defending on borrowing. This is why we need righteous people who are spirituality minded to lead us.

Forget sentiment, the minister is doing well. He had been the best governor Rivers State have ever had.

Starboysolo1:
Clueless administration.
It will not be well with anyone that played a part to emergence of this administration.

your pain dey sweet us well well

Ologbojo2023:
what is their that people don't understand. Can you read between the line? Amechi himself is complicating issues here. Talking with two side of his mouth, which one we ought to believe. Is the clause he claim is a universal standard for requesting for loan or effort he has made to service the loan repayment ti the turns of 96 million dollars. He need to get his facts straight l guess he's hiding something.

Oga sir, if you have the universal standard clause of requesting loan different from this particular clause , kindly make it available here on nairaland topics then i will encourage it to the frontpage.

the clause here to my understand means that china will come and take back or claim whatever the cash was used for, either selling it to private sector or wishes to remove them or decide to manage them without the FGN interference/decision e.g in a case of revoking using the power of country immunity.

Don't really blame China na our blind leaders cause am.
we borrow $500m from China, a loan paid directly from China to a Chinese construction firm firm to build diesel locomotive lines in Nigeria.And in case Nigeria fails to pay back the loan,the Chinese have the legal right to take over the rail infrastructure and determine it's use.
Let's just hope snake won't swallow funds meant for repaying that loan

abduljabbar4:
The clowns at the NASS along with the western buttlickers have subscribed to the silly propaganda. China is not here for charity. It's pure business and if the leaders fail to repay the loan, they have the right to take the assets as agreed in the deal

Not "the asset"... Any assets whatsoever except military and diplomatic asset

He also said the only way the country can experience infrastructural development at the moment was for it to borrow.

Nigeria can also increase it's productivity and generate a large portion of the funds required to funds infrastructure development. The steel plants can be fix to cut steel import.

Elvictor:

he has done what no governor has done in Rivers State

You are absolutely right!!! He was pretending to build a gas turbine. When Obasanjo came to commission it, they had to rent a generator to power the public address system. Even Obasanjo was shocked and just murmured "Amaechiiiiiii..."

So, indeed, no governor before or after him looted that much, and continued to loot to this day.

eduj:
Don't really blame China na our blind leaders cause am.
we borrow $500m from China, a loan paid directly from China to a Chinese construction firm firm to build diesel locomotive lines in Nigeria.And in case Nigeria fails to pay back the loan,the Chinese have the legal right to take over the rail infrastructure and determine it's use.
Let's just hope snake won't swallow funds meant for repaying that loan

GOD BLESS YOU MY BROTHER FOR MAKING IT SIMPLE FOR SOME PEOPLE TO UNDERSTAND, YOU DESERVE PART OF THEIR SCHOOL FEES.

TruthinAction:
Maybe Nigeria should be colonized by China because we have really failed in governing ourselves. Meanwhile, borrowing is a curse. It means Nigeria is cursed if we keep defending on borrowing. This is why we need righteous people who are spirituality minded to lead us.

I hope you are aware of Chinese repression of Uighurs and Tibetian. Chinese are extremely corrupt and brutal even to their own people.

amachi with loans this was whot he did in river state 2 months to Lev office he was asking for loan 22 billion for water project thanks to the minster for economic then ngozi that refers to approved the loan he then want and collect the 55 billion he save for rivers state no Hanover note till date.

Kazim88:

Not "the asset"... Any assets whatsoever except military and diplomatic asset

That what the people are missing, the Chinese will claim the LNG, Sea Ports and Airports virtually colonising the country.

handie:
The explanation Amaechi gave is very logical and thankfully, we are actually seeing the fruits of all the loans.... Unlike previous governments that collected loans and had nothing to show for it. Take it or leave it, Amaechi has been the best transport minister in Nigeria..... Whether your hatred let u see am or not no concern me

Common sense you no get. If you can't do a logical thinking, try and learn from experience.

This was the same yardstick used for Zimbabwe, Zambia, Ethiopia and few African countries. They were not able to pay, and instead clearing their outstanding debt, they borrowed more and more, more and more and now they are still borrowing and it has made them loose their sovereignty because most infrastructures that was put in place were done through debt and now this country can't can't say pim when they are maltreated, enslaved, taken advantage of and their sovereignty is toyed with. They can't even seek help from other countries or else when China vex they those that were not even there when the contracts were signed would pay for it.

Solution instead of borrowing more and more money. Why can't they focus on clearing the outstanding debt first, then another, clear it again. But no instead, they want to borrow trillions so that they can chop use the rest for the project and when other administration comes on board the terms of the contract would be neglected and payment of debt forgotten.

When the stipulated time for payment expires China takes over, when China takes over SA would come here to laff at us on nairaland for not being smart in our dealings.

Out of 5 hundred billion plus you paid 90 something and you want to borrow more. What if another mediocre gvt comes onboard in later years and those ones focus on borrowing instead on paying back loans?

Nigeria is not poor but they are making us look poor...

Things that would generate money for us have been left to rot. Fix Ajaokuta steal and make sure those carbin are made in Nigeria cut cost not NO

sulaak:


That what the people are missing, the Chinese will claim the LNG, Sea Ports and Airports virtually colonising the country.

Brother Professor, what's the plural of Asset? And how many project are they financing with the $500m loan? Before you start selling nigerian sea port with your ignorance.

phylshan:


https://www.google.com/amp/s/thenationonlineng.net/china-loan-amaechi-challenges-nass-to-publish-terms-of-agreement/amp/

See Amaechi talking like he wasnt in government during Jonathan’s time.

King44:
Common sense you no get. If you can't do a logical thinking, try and learn from experience.

This was the same yardstick used for Zimbabwe, Zambia, Ethiopia and few African countries. They were not able to pay, and instead clearing their outstanding debt, they borrowed more and more, more and more and now they are still borrowing and it has made them loose their sovereignty because most infrastructures that was put in place were done through debt and now this country can't can't say pim when they are maltreated, enslaved, taken advantage of and their sovereignty is toyed with. They can't even seek help from other countries or else when China vex they those that were not even there when the contracts were signed would pay for it.

Solution instead of borrowing more and more money. Why can't they focus on clearing the outstanding debt first, then another, clear it again. But no instead, they want to borrow trillions so that they can chop use the rest for the project and when other administration comes on board the terms of the contract would be neglected and payment of debt forgotten.

When the stipulated time for payment expires China takes over, when China takes over SA would come here to laff at us on nairaland for not being smart in our dealings.

Out of 5 hundred billion plus you paid 90 something and you want to borrow more. What if another mediocre gvt comes onboard in later years and those ones focus on borrowing instead on paying back loans?

Nigeria is not poor but they are making us look poor...

Things that would generate money for us have been left to rot. Fix Ajaokuta steal and make sure those carbin are made in Nigeria cut cost not NO

Don't mind the blinded idiots here defending non sense!
The Tanzanian President read the small prints and threw out the Chinese loan. Yet "giants" of Africa are grabbing the Chinese loans with both hands without thinking through the long term implications. Unfortunately,we don't have a president so anything goes.

dezik:


Brother Professor, what's the plural of Asset? And how many project are they financing with the $500m loan? Before you start selling nigerian sea port with your ignorance.

The ignorance and stupidity is with people like youself. You are selling country for infrastructures that you can't even maintain, just like your forefather sold slaves for mirrors and alcohol.

A loan of $500m for Abuja to Kaduna railway, then $1.3 billion for Lagos to Ibadan

These people are just criminal.

Someone made this comment on previous thread. Are we stupid in this country?



Don't mind the blinded idiots here defending non sense!
The Tanzanian President read the small prints and threw out the Chinese loan. Yet "giants" of Africa are grabbing the Chinese loans with both hands without thinking through the long term implications. Unfortunately,we don't have a president so anything goes.

Elvictor:


don't quote me without knowing why I replied that way, I am not against the probe by National Assembly. Amaechi has challenged them to make the documentary public, but how on Earth did they approve it without going through it properly and now coming to haunt what they agreed on earlier, don't you see those greedy dogs in that house are looking for cuts the way they usually get from NDDC.

If you go through the video, you will realize that it wasn't about looking for cut but considering National interest. Amaechi on the other hand was not ready to be transparent as possible. Rather, he resolved to blackmail and using projects to be carried out to paint the house bad against the masses. Why was he trying to avoid questioning by diverting questions that involved him to the minister of finance? Should the Minister of Finance be the right person to say the span of the project Amaechi's ministry is overseeing?

Besides, if you watched that video you will understand that both parties are aware that Chinese government releases funds to the contractor directly with the Nigerian government not touching a kobo. So, tell me where the act of looking for cut is applicable to this?

How can a minister go to the house to tutor the chairman and committee members what constitution says? The Chairman had to put him in his place by correcting his wrongs and also letting him know they have every right to enquire about details.

Tell me if in anyway there was call for secret meeting in the video you watched which may suggest seeking for cut? Everything was done in the presence of the press. Amaechi fumbled.

We need to ALWAYS consider national interest in matters than bringing in sentiments or performance in any case. That a person performs does not mean he is not prone to errors too.

"The minister also hinted that he was getting signal from the Chinese government that Nigeria may not get the loan following the probe by the National Assembly."


So, China is telling us we have no right to scrutinize the loan agreements. Their Father! Go ask Tanzania president. He tore the $10 Billion loan agreement between China and his predecessor, saying only a drunk person will signed to such agreement with China. Let them carry their money go. All the money being stolen right, left and center can be channeled to infrastructure. Remember the $16 billion wasted/stolen for power sector. NDDC just wasted and stole N15 trillion with nothing to show.

Imagine the person who is planning to rip you off is giving you condition. Nija elites are just brain dead wicked.

sulaak:


That what the people are missing, the Chinese will claim the LNG, Sea Ports and Airports virtually colonising the country.

The most terrible thing is they are still requesting for more loans and the Chinese are threatening them with if you probe we won't give you any extra loan...

It's a dead end... Only God can save Nigeria

sulaak:


That what the people are missing, the Chinese will claim the LNG, Sea Ports and Airports virtually colonising the country.

As they already did in Sri Lanka, Djibouti and few other countries.

Starboysolo1:
Clueless administration.
It will not be well with anyone that played a part to emergence of this administration.

What better option did we have

Let's take this step by step:

First of all, the agreement was signed crystal clear by the law makers, while probing it again. Secondly, there is no loan without collateral, especially when it involves two Countries.

What the Minister is saying is this: the loan has not been completely disbursed by Chinese Government, so if the probe should continue by National Assembly, it therefore means that Nigeria government doubt it competency in repayment.

China is afraid there might be breach of contract if things should continue.

I recommend that this loan loan issue should stop, we have borrowed enough, we have natural resources we can harness to attract forex to fix our country.