The Minister of Transportation
has again given reasons he asked the National Assembly not to probe the Chinese
loans.
The clause in the agreement
signed by the Federal Ministry of Finance on behalf of Nigeria and Chinese Bank
on September 5, 2018 has generated a lot of controversies in the country in
recent days.
Part of the agreement said that:
“The borrower hereby irrevocably provides waives any immunity on the grounds of
sovereign or otherwise for itself or its property in connection with any
arbitration pursuit to Article 85 thereof with the enforcement of any arbitral
award pursuit thereto except for the military asset and diplomatic asset.”
However, the Minister told
Channels Television’s Politics Today on Tuesday, that he asked the lawmakers
not to go ahead with the probe in order not to scare the lender.
Amaechi further explained that
the country was about to apply for about $3billion loan from China to execute
the rail from Port Harcourt to Maiduguri.
“The reason why I said that is
because we have already applied for $5.3billion to execute the rail from Ibadan
to Kano.
“We are about applying for about
$3billion to execute the rail from Port Harcourt to Maiduguri.
“Don’t forget the National
Assembly approved that loan. It is unconstitutional and impeachable if you take
a loan without the approval of the National Assembly,” he said.
He wondered why the same
lawmakers who approved the loan were now questioning the same loan and the
terms of the loan having looked at it before.
“If I am the lender, I will be
worried. If they get worried, they will say ‘No, we will not approve the
remaining loans you have applied for,” he said.
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