Is China Plotting a Takeover of Nigeria’s Critical Assets As Debt Repayment? Fact Emerges

Is China Plotting a Takeover of Nigeria’s Critical Assets As Debt Repayment? Fact Emerges

  • Finally, the People's Republic of China has reacted to the rumour about taking over some of Nigeria's critical assets as debt payment
  • Cui Jianchun, Chinese Ambassador to Nigeria has debunked the rumours stating that there is no such thing
  • He revealed that China had no intention to do confiscate Nigeria's critical assets even if it fails to meet repayment deadline

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FCT, Abuja - China's ambassador to Nigeria, Cui Jianchun has allayed fears that his country is planning to take over Nigeria's assets as repayment for loans borrowed, Daily Nigerian reported.

The Chinese ambassador made this known on Thursday, September 22 in Abuja while receiving the Chinese Special Representative on African Affairs, Liu Yuxi to Nigeria’s Minister of State for Foreign Affairs, Zubairu Dada.

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Nigeria, China
China has reiterated that its relationship with Nigeria remains stronger and healthy. Photo: Daily Nigerian
Source: UGC

It was gathered that the meeting was meant to foster a healthy relationship in strong bilateral relations between Nigeria and China.

Jianchun noted that the relationship between China and Nigeria is on the premise of mutual trust while his country does not intend to effect the seizure of Nigeria's critical assets as repayment for the loan it has borrowed.

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He stated that even if Nigeria failed in repaying the loans, it still will not confiscate its critical assets as rumoured by some quarters.

China commits to strengthening bilateral relationships with Nigeria

Yuxi while expressing the Chinese government’s full commitment to improved bilateral relationships with Nigeria, appreciated Nigeria for upholding the One China Policy.

He said China just like Nigeria will continue to support the policy of Non-interference at the International level.

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The Special Envoy stressed the need for China and Nigeria to strengthen their collaboration, especially in the area of Climate Change as he pledged his country’s zeal to continue to support Nigeria in the fight against terrorism through military cooperation.

Yuxi said with the successes recorded in the fight against COVID-19, China will now strengthen its exchange programmes with Nigeria for more knowledge sharing.

Mr Dada, in his remarks, said Nigeria cherishes the relationship that exists between the two countries which he pointed out has improved tremendously over time.

He said the commitments so far shown by the Chinese government in assisting Nigeria to address the challenges of decaying infrastructure and building new ones have clearly demonstrated the level of friendship between the two countries.

China remains Nigeria's strong ally - Minister

The minister said that the Chinese Government’s support in the areas of Railway and Energy infrastructure such as the Zungeru Hydro Electric Power Project and the AKK Gas Pipeline are a few examples of the commitments of China to Nigeria’s development.

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Mr. Dada said that China indeed remained the friend in need to Nigeria and the entire African continent.

He also recalled his participation at the FOCAC Meeting in Senegal where China earmarked 15 projects for Nigeria, calling on China to expedite action on these earmarked projects for the benefit of all Nigerians.

The minister, therefore, pledged Nigeria’s resolve to the One China Policy and also thanked the Chinese government for all the support Nigeria received from China at the International level, promising Nigeria’s reciprocal support to China as and when due.

Mr. Dada used the occasion to call for more investments into Nigeria by the Chinese investors as Nigeria according to him is thirsty for more investments.


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