OpEd: Nigeria And Chinese Loans By Reuben Abati1990 | Sahara Reporters Nigerian lawmakers have a responsibility to shout out about Nigeria’s sovereignty, and the integrity of agreements with China or others. We certainly don’t want to hear... READ MORE:
The relationship between Nigeria and China with regard to loans obtained from the latter to fund Nigeria’s infrastructural projects suddenly became a matter of legislative intervention and public scrutiny last week when the House of Representatives summoned the Minister of Transportation, the Minister of Finance, Budget and National Planning and the Minister of Communications and Digital Economy to appear before it on August 17.
From the government’s side, the only man who has spoken up is Rotimi Amaechi, the Minister of Transportation, but his explanations do not seem to address the issue. He says for example, that the waiver of immunity in the agreement is merely “a contract term”, a sovereign guarantee. Nobody is convinced. Amaechi and his colleagues who have been summoned by the House of Representatives would have to do much better than that.
In the 70s, China was far behind many African countries. I grew up in a country where any product that was made in China or Taiwan was derisively dismissed. China and Taiwan were the standard euphemisms for fakery, inferiority and cheapness. In those days, Nigerians talked about the British Standard . Nigeria’s economy was doing well. The Naira was at par with the pounds sterling.
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