The Minister of Justice and Attorney General of the Federation, Abubakar Malami and the Minister of Transportation, Mr. Chibuike Rotimi Amaechi has have insisted that the sovereignty of Nigeria hasn’t been traded-off on China loans as claimed by the House of the Representatives.
Speaking on an NTA programme on Tuesday, the ministers claimed what Nigeria provided was a commercial guarantee which is an international best practice.
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The Minister of Transportation, Chibuike Amaechi said at the event that Nigeria must learn how to pay her debts: “A sovereign nation is a sovereign nation, nobody can recolonise us. We must learn to pay our debts and we are paying, and once you are paying, nobody will come and take any of your assets.”
Amaechi said the previous administration could not be blamed for the loan or clause in the agreement with the Chinese on the loans they took because it is a standard clause.
“If the National Assembly said we have signed out the sovereignty of our country, so why did they approve the loan? He asked, adding that “didn’t they see it before approving?”
Also during the programme, Mr. Malami said: “There is a difference between international diplomatic immunity ‘which has to do with a nation’s sovereignty, independent existence’ and commercial immunity which has to do with a commitment to ensure repayment of loans.”