Socio-Economic Rights and Accountability Project (SERAP) is
seeking details of Nigeria’s loan agreement with China.
The human rights organization made the announcement Monday
night via its Twitter page.
A terse statement disclosed that a Freedom of Information
(FoI) request will be made shortly.
SERAP wants the repayment conditions for loans obtained by
President Muhammadu Buhari and 36 governors since May 29, 2015.
“Knowing details of Chinese loan agreements is a matter of
public interest”, the group tweeted.
The demand followed the news that China is set to “take
over” Uganda’s Entebbe International Airport over a $200 million facility
(Ush712billion).
The funds was provided after a March 31, 2015 agreement
between the country and China’s Export-Import (Exim) Bank.
There are fears that some clauses expose Uganda’s sovereign
assets like the similar concerns in Nigeria.
Embassy spokesperson, Fang Yi, noted that China adheres to
the principles of openness, transparency, equity and mutual benefits.
“All loans agreements – including the Entebbe Airport
expansion and upgrading project – were voluntarily signed by both parties after
negotiations without any hidden terms.
“Terms of the loan agreement for the Entebbe Airport
expansion and upgrading project are in full compliance with the prevailing
conventions and practices in international financial markets.”
Yi said not a single project in Africa has ever been
confiscated by China because of failing to pay loans.
On the contrary, the official clarified, the Asian giant is
willing to continue efforts in improving Africa’s capacity for home-driven
development
“China has sought to reduce the burden of African countries
through debt restructuring, mitigation and reduction by friendly negotiations”,
Yi stressed.
In July, China explained that its financial assistance to
Nigeria were mutually beneficial and not a plot to hijack its sovereignty.
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