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Reps Insist on Review of Chinese, Other Loan Agreements

The House of Representatives on Sunday August 2, 2020 said it would review all loan agreements and conditions signed by the Federal Government.

The Vice-Chairman of the House Committee on Aid, Loans and Debt Management, Chris Azubogu, stated this in an interview with one of our correspondents in Abuja, just as the Lagos Chamber of Commerce and Industry as well as the Manufacturers Association of Nigeria supported   the investigation by the lawmakers into Chinese loans.

The House Committee on Treaties, Protocols and Agreements had on Tuesday last week begun an investigation into the loans taken by the country.

The committee   raised the alarm over loan agreements Nigeria signed with China. The lawmakers said the agreement might force Nigeria to concede its sovereignty to the Asian country if the loans were not paid back.

But the Minister of Transportation, Rotimi Amaechi, who appeared before the committee, asked the lawmakers to stop the investigation into the Chinese loans.

He said the probe would send a wrong signal to China, which could stop the loans, thereby thwarting the nation’s rail projects.

 The Vice-Chairman of the Committee on Aid, Loans and Debt Management, Mr Chris Azubogu, in a report by The PUNCH, said, “The House generally is concerned. We are reviewing all the terms and conditions to know what they are like. The House is reviewing all loans and agreements.”

 

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