Adlac:


$500 Million. where we go see 'm.

If you're talking about $500m then that's a very SMALL money in the context of Nigeria.

the information is okay but im still afraid of ameachi.

castiello:


You are saying rubbish just try to read and understand next time, China can’t take our oil sector for loan we did not pay, they can only take the sector the money was spent on and that’s the rail, and they know this money was spent on rail because they are the ones who sell the train to use and are the ones incharge of the building, look China did not give Nigeria cash the gave an infrastructure loan cash was not exchanged

U are the one spewing rubbish .....
Go n read the clause generating so much trouble.
If Nigeria defaults, china is allowed to seize any assets except military n diplomatic assets.

So now it was taken by GEJ govt? This pple ehnnn

True o!

That’s one tap that has remained completely open.

School feeding that is meant to be an incentive for schooling, has been turned to home feeding program

They keep fooling themselves but imagine the people are actually fooled.

Corruption galore...

bolaayenimo:
Is it true the loan was used for school feeding programme?

xperiencelove:
The most worrisome about this loan is the cabals and their associates will embezzle more than 40% of the loan, civil servants will mismanage 10%, and the remaining 50% or so will be use to execute projects at inflated prices by appointed officials.

You don't have to worry about that. The loans cannot be embezzled because the Chinese government will only release the money directly to the contractor after Nigeria signs that the project has been delivered. No Nigerian government official comes in contact with the money. Nigeria has engaged the services of the Italians to ensure that the projects are built according to European standards. It's a win-win for everybody.

vhykeeytor:
GOD GO SHAME BUHARI.... If.....he doesn't order Amaechi to cancel that Satanic loan.

YOU ARE AN IGNORANT.

Let us see the evidence

AroleOduduwa2:
This forum is full unapologetic zombies, they claim people are comfortable with being slaves to the west through IMF loans, but fail to tell us how IMF and the world bank has canceled our loans in the past, how they have given us debt reliefs countless times without taken over our country like the Chinese took over Zambia’s National Assets.

u dey mind that terrorist abdul

Believing what they say is like believing the devil himself.


The truth will be uncovered soon

Retarded Set

This government will continue to take us as a fool. Amaechi never admitted that this present administration collected huge loan from china.. he only talked about past administration borrowing money.. This people are just dribblers.

Guestlander:


This is funny, this is one of the reasons Nigeria is poor. The world bank and the IMF got their money back many times over leaving us with less money to develop and build necessary infrastructure.

Not only that, do you know how much Nigeria parted with to settle the "debt forgiveness" you are talking about.
On top of that Nigeria lost more than 30 billion to the world Bank and the IMF with nothing to show for it. No trains, no electricity, few standard roads and barely functional airports.

The Chinese cannot take the railway back to china even if they eventually take it over. There are foreign companies already operating in Nigeria today that take their profit back to their home countries.
What do you have to say about this?

what of if the railways system fail before we repay the loan, what then do you think the Chinese will take over?

do you know that it is always difficult for Nigeria to repay back loans, what of if the money enter another pocket?

Ayomi90:
The pained Igbo's that don't have anything to offer wants 9ja to default, they generate the lowest IGR yet u see them making noise on every thread. North, SS nd SW is always d ones paying, especially SS states, Lagos nd Ogun.

Our flat head brother that doesn't contribute anything to d development of Nigeria are d ones wailing.

Chaiii...
how much do you think north generate to the igr? For the record, abia state has the highest gas reserve in Nigeria. Imo state is an oil producing state. Enugu has the largest coal depot in west Africa.

What then do north contribute?

abduljabbar4:
Why is Amaechi even wasting his time on these people. They are okay with Africans being slaves to the IMF and collecting loans that mostly ends in the pockets of white companies and corrupt politicians, but they have problems with low-interest, long-term loans from China. It's only an irresponsible government that will fail to repay such loans (given the time and interest rate of the

of course Zambia problem didn't start today...
when they are entrapping them and enjoying themselves with Chinese money, they forgot the repayment date.
Now Nigeria is heading towards that direction. Have you ever ask yourself what of if the railway system fails and Nigeria fails to repay back the loans, what will happen?

Scout60:


what of if the railways system fail before we repay the loan, what then do you think the Chinese will take over?

do you know that it is always difficult for Nigeria to repay back loans, what of if the money enter another pocket?

First of all, the money is paid directly to the contractors. It is not the kind of loan anyone can embezzle.
Your second question; what if the rail system fail before we can repay the loan. In this type of project the contractor doesn't just leave when the project is completed, they are usually available as per agreement to fix any technical or unforseen issues which may come up after completion until Nigerians can take over and fix it themselves.

sleemomymy:

YOU ARE AN IGNORANT.

see this ignorant fool that doesn't know that they have mortgage his future and that of his generation yet unborn....and if Nigeria govt refuse to pay back the loan....they would compel him to go to China and work without pay. Why didn't they explain all these to us in the first place until the house of rep....exposed them?



GOD GO SHAME BUHARI.... If.....

jumper524:
learn to read

if only you can reason with your brain...that's if you have not sold it for a plate of Amala and Ewedu soup in the last ileya. That was how you foolishly voted an old vegetarian and now we are paying dearly for it by collecting loan here and there.

Simplyleo:
Good to hear that.

However, I know those lunatics (they know themselves) will rather prefer Nigeria unable to comply so they can scream more on social media.

God bless Rotimi Ameachi
God bless BAT
God bless PYO
God bless PMB
God bless Nigeria and Patriotic Nigerians.

Meanwhile;

Do you mean flying BAT? I dont really understand

AroleOduduwa2:
This forum is full unapologetic zombies, they claim people are comfortable with being slaves to the west through IMF loans, but fail to tell us how IMF and the world bank has canceled our loans in the past, how they have given us debt reliefs countless times without taken over our country like the Chinese took over Zambia’s National Assets.

China already has a base in Djibouti in Africa. If any country fail to pay back a loan and refused to hand over the assets, the Chinese military is ready to move in. America is the world greatest debtor and protects itself by having the most formidable military in the world just in case it can't meet it's debt obligation. People are still sleeping in Nigeria. When Chinese military forcefully take over once Nigeria default and refuse to hand over the assets, Nigerians eyes will clear.

wiseoneking:
Do you mean flying BAT? I dont really understand

Yes, flying BAT.

Hope you now understand.

DexterousOne:


The Nigerian leaders and the the vast majority of the Nigerian populace dont have the capacity to think properly

That's what the problem is...
Imagine someone saying China does not attach conditionalities to loans, or do not get involved in the politics of african countries

Ask Zambia and Zimbabwe what they are facing
They will tell you
Especially Zimbabwe

Sometimes I wonder why God decided to put me in a continent like this
In the midst of so many idiots and slow thinkers

He no see Japan drop me, he no see South Korea or Germany to drop me...
It's this Nigeria

Anyways
This would be corrected soon sha

Nigeria needs a very serious revolution, not violence but we can mobilize a great number of people that will speak against the evil and change things in this country.

Believe this government of intergrity at your own peril. Nothing good can come out of this cesspit of a government.

Borrowing from China to pay China�

Elvictor:


[s]the problem with you is ignorance, there won't be any cash here, the Chinese are the ones carrying out the project without paying a dime to any Nigerian. we are only going to payback after completion of the project, the worries here is that can we pay back? Nigerians don't like returning favour due to the system... read before you inflict your filthy fingers on your past glorious screen.[/s]

It turns out you are more ignorant and adamant than I thought...

What is the essence of getting educated when you can't do a simple realistic logical thinking.

You just contradicted yourself when you asked that rhetoric question. I have stated the answer clearly but I am not sure if you read or understood what you even read.

Once more Nigeria won't pay because the leaders only understand contract but they don't understand the content, they won't ask for help before signing and when they are done signing, they won't keep to their own side of the deal.

It is bad and it would affect us on the long run, so learn to read and understand before you start typing nonsense with those sore fingers of yours.

But we still need more loan from china so that jobless hausa Fulani youths to go buy more exotic cars then more bullion van in tinubu house for the up coming election.una never see anything

But the time wey them dey borrow the dey develop una side non of you talk against am.just tell me who is fooling who?

Islie:


https://www.dailytrust.com.ng/no-need-to-panic-nigeria-is-already-paying-china-loans-amaechi.html

The State Of $470 Million Abuja CCTV Cameras & Solar Panel Backups 6 Months After Installation


These photos were taken 6-months after a Chinese firm, ZTE Corporation, reportedly completed the installation of Close Circuit Television Cameras (CCTV) in the Federal Capital Territory (FCT), Abuja.

The contract was awarded to the Chinese company for $470 million and under the Umaru Yar'adua regime. The contract amount was reportedly increased by President Goodluck Jonathan.

However, a few months later the cameras and the solar panels installed to back them up have fallen apart.

http://saharareporters.com/2013/04/29/photonews-state-470-million-abuja-cctv-cameras-solar-panel-backups-6-months-after

This is what Jona and his cronies did with the $500 China loan.

This is what we are still paying for, obsolete rubbish that was never completed and never served Nigerians in anyway.

On top of that, they inserted a clause in the contract that the terms of the loans must never be questioned, revealed or debated.

Servicing Chinese loans for failed projects is double jeopardy for Nigerians—they can neither see nor benefit from the projects; yet, they are made to pay both the loans and the accrued interests.” ”

Read more at: https://www.marketdigestng.com/news/serap-wins-right-to-get-details-of-failed-chinese-460m-abuja-cctv-project/

Very sad.

Islie:


https://www.dailytrust.com.ng/no-need-to-panic-nigeria-is-already-paying-china-loans-amaechi.html

How?

abduljabbar4:
Why is Amaechi even wasting his time on these people. They are okay with Africans being slaves to the IMF and collecting loans that mostly ends in the pockets of white companies and corrupt politicians, but they have problems with low-interest, long-term loans from China. It's only an irresponsible government that will fail to repay such loans (given the time and interest rate of the deal).

Modified
Some Cownu minions are not aware that China has canceled loans for African countries without giving stupid conditions like approval of gay marriage. Not only that, China has never endorsed a candidate in our country or tried to fforce us into going for destructive policies (SAP). They claim that they have never taken over a country, yet great African leaders like Ghaddafi are dead today for refusing to become puppets. Not only that, they have taken over Iraq and Ivory Coast while still fighting to seize Syria and Venezuela. They are always quick to mention Zambia (which failed to repay due to incompetence) , but they don't care about the plight of our neighbors in the hands of France who controls their economies and even funds terrorist groups to cause unrest in the region (of course, why should they care when France is an ally to USA their masters). They supported USA's evil agender against our own Akinwumi Adesina just because they hate everything that sounds like Yoruba and Nigeria but thank God, they have failed.


But then, even their leader called them pigs and idiots so no surprises here. If majority of African countries prefer to go for "evil" Chinese loans over Angel World Bank, then there must be a reason. Even their master (America) owes China over a trillion dollars



Modified for the 2nd time

China has never threatened us with sanctions for refusing to accept their deals unlike their masters. Ask Angola or Rwanda about what they faced for choosing to grow their local industries (textile I think)

China has never colonized nor sabotaged our industries but it's the Chinese that are bad.
I see that Nigerians are sinophobic and are very ignorant, hating on the Chinese for no good reason, they act like the west ever cared for us.