Reps To Protect Interest Of Nigerians In Govt’s Borrowing Plans

17 August 2020 by Aisha Adesanya

The House of Representatives has reiterated its commitment in ensuring that the borrowing plans by the Federal government includes provisions that would protect the interest of Nigerians.

The Chairman House committee on Treaties, Protocols and Agreement Nicholas Ossai made this known at a public hearing organized by the house to look into details of the Agreement on the China Loans.

The lawmaker who disclosed that Nigerian government officials signed an empty repayment loan documents for the development of the Nigeria Rail sector even before the terms of the loans were negotiated stressed the need for these loans to be renegotiated to ensure Nigeria’s interest is protected.

In his presentation the Minister of Transportation, Rotimi Amaechi who disagreed with the committee explained that he was unaware of a thirty three billion dollar contract by the Ministry of Transport as alleged by the committee adding that only a one point six billion dollar contract was awarded by the present administration.

The minister who accused the committe of politicizing the loans, maintained his position that Nigeria may not get the remaining loans from China due to the investigations being carried out by the House.

The committee also directed that the number of Nigerians and Chinese involved in the rail project, and Nigerian Contractors handling the project be submitted to enable it ascertain if local content was taken into consideration.

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