No Contract Clause Cedes Nigeria’s Sovereignty To China— Chinese Foreign Ministry - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Tuesday, 4 August 2020

No Contract Clause Cedes Nigeria’s Sovereignty To China— Chinese Foreign Ministry

No Contract Clause Cedes Nigeria’s Sovereignty To China— Chinese Foreign Ministry

The Chinese Foreign Ministry, on Monday, denied that China had any clause in its loan contracts ceding Nigeria’s sovereignty to China.

Recall that last week members of the House of Representatives claimed they had uncovered clauses in a loan obtained by Nigeria from China that conceded Nigeria’s sovereignty to China.

But the Minister of Transportation, Rotimi Amaechi, had said he was ashamed that people can’t understand that the clause ‘waiving sovereignty’ in China’s loan agreement with Nigeria is only a contract term, a sovereign guarantee that assures payback according to the terms and conditions of any loan.

READ ALSO:   COVID-19: Buhari donates PPEs worth N67m to Sao Tome and Principe

Amaechi made the clarification while answering questions about the loan controversy on a TV programme.

He had also explained that the Nigerian government has the capability to pay back loans collected for the construction of rail projects within the stipulated period of 20 years.

However, explaining the Chinese loan on Monday, its Foreign Ministry, in a statement, said: “We follow a ‘five-no’ approach in our relations with Africa:

“No interference in African countries’ pursuit of development paths that fit their national conditions; no interference in African countries’ internal affairs; no imposition of our will on African countries;

“No attachment of political strings to assistance to Africa; and no seeking of selfish political gains in investment and financing cooperation with Africa,” the ministry quoted President Xi Jinping, as saying at the FOCAC Beijing Summit in 2018.

The Foreign Ministry said: “China is committed to enhancing investment and financial cooperation with African countries based on their needs to help them improve infrastructure and extradite socio-economic development.

“By funding infrastructure and other areas that lag behind for short of money, we have helped the relevant countries break bottlenecks, enhance their capacity for independent development, realise social and economic sustainable development, and improve people’s livelihood.

“Such cooperation has delivered tangible benefits to African countries and peoples.

“In the process, China always gives full consideration to debt sustainability and seeks mutually-acceptable proposals through equal and friendly consultations.

“That is the fundamental reason behind the enormous popularity of China-Africa cooperation in Africa.”

READ ALSO:   Follow The Money saved govt N50bn in 2019, says Hamzat Lawal

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984

For More:   Subscribe to Ujuayalogusblog.com

Share This

No comments:

Post a comment

Listen to This Beautiful New Talent - Winter Wolf - Singing "What a Waste"


Post Bottom Ad

Pages