Chinese loans: Shehu Sani says projects done may not last 2 decades

Chinese loans: Shehu Sani says projects done may not last 2 decades

- Senator Shehu Sani has lent his voice to the controversy generated by the payment of $500 million Chinese loans

- The former lawmaker said there is more to the defence of transport minister, Rotimi Amaechi, on the mode of payment

- Sani said by 2040 when Nigeria may have concluded the payment, many of the infrastructures built with the loans may have depreciated

PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!

As the conversation continues to be broadly lengthened down to the payment of $500 million Chinese loans by the federal government, Shehu Sani said there is more to the defence being put up by transportation minister Rotimi Amaechi.

It would be recalled that Amaechi, while speaking with journalists, had explained why there is nothing wrong with the federal government ceding Nigeria's sovereignty to China in the signing of a loan deal with the Asian country.

Trouble for Rohr as big Super Eagles star listed among players to be sold at top EPL club

Amaechi's position came after the House of Representatives discovered that the agreements between the country and China ceded Nigeria’s sovereign right on the assets financed by the loans if there was payment default.

Chinese loan: Shehu Sani says projects done may not last 2 decades

Senator Shehu Sani has lent his voice to the controversy generated by the payment of $500 million Chinese loan. Credit: Twitter (Shehu Sani).
Source: UGC

Speaking during a live television programme (Democracy Today) aired on AIT on Saturday, August 1, the minister of transportation later disclosed that Nigeria is already repaying China loans.

According to him, out of the $500m loan the federal government took to build the Abuja-Kaduna rail line $96m has been paid, adding that the loan will be paid for twenty years.

But in a swift reaction, Shehu Sani, a former senator representing Kaduna Central, raised an eyebrow against the logics of paying the loans for a period of twenty years.

The former lawmaker said by 2040 when Nigeria may have concluded the payment, many of the infrastructures built with the loans may have depreciated.

"Paying back China loan in twenty years means by the year 2040, those of you in your twenties now will be in your 40s then.

Anthony Joshua tells younger generation what they must do to their parents while still alive

"We hope the infrastructures built with the loan will last for the two decades and beyond," the former lawmaker said in a tweet on Sunday, August 2.

PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app

Meanwhile, Legit.ng reported that the House of Representatives has demanded a review or outright cancellation of the latest China loans to Nigeria on the principle of ‘force majeur’ in the light of the COVID-19 pandemic.

The lawmakers based their demands on the grounds that the National Assembly was in the dark on how most of the loans from China were taken and were to be utilised.

A member of the House, Honourable Ben Ibakpa, accused the federal government of sidelining the National Assembly when taking loans from China.

Ways too much for Nigeria - Corruption in Nigeria must end | Legit TV

Our step-mum is behind our travails - Abiola’s children open up after 13 days in custody

Source: Legit

Online view pixel