Chinese loans and our sovereignty (1)


Chinese loans and our sovereignty (1)


Chinese loans

OUR polity has been over-heated by the seemingly endless debates on the issue of loans given or about to be given to Nigeria by the government of China for our infrastructural development.

Pundits have criticised or condemned the terms of the Chinese loans granted for railway construction and modernisation.  The outcries came after a committee of the House of Representatives, while investigating our foreign loans, claimed that Nigeria’s sovereignty is being undermined as part of the terms for China’s infrastructural loans to Nigeria.

Minister of Transportation, Chibuike Rotimi Amaechi, who attended a recent House of Representatives public hearing, tried vigorously to explain the sovereignty waiver clause in the loan agreement and clear the misconception of Nigeria handing over its sovereignty to China.

We understand the quantum of emotion involving this issue. Unfortunately, we have allowed emotion to becloud the truth and reason. Nations all over the world borrow from each…

Source: Vanguard Newspaper