Minister of Transportation, Rotimi Amaechi, has said he is ashamed that some people can’t understand that the clause ‘waiving sovereignty’ in the loan agreement between Nigeria and China is only a contract term, a sovereign guarantee that assures payback according to the terms and conditions of any loan.
Amaechi made the clarification while answering questions about the loan controversy on a TV programme, weekend.
He also explained that the Ministry of Transportation is not responsible for taking loans, but to implement the project or contract for which the loans were taken.
According to Amaechi, “it is a commercial agreement; a trade agreement between Nigeria and China. The first issue is that the Ministry of Transport does not take loan. Anything about loan, talk to Ministry of Finance.
“What I signed is what they call commercial contract; that is contract between the Federal Government and CCECC as a contractor.
“The contract between Nigeria and…
Source: Vanguard Newspaper
