Why Nigeria Signed Sovereignty Clause In Loan Agreement With China
August 1, 2020
4:08 am
Nigeria’s Minister of Transportation, Rotimi Amaechi, has insisted the country has not signed away its sovereignty to China.
He explained what the clauses implied.
Speaking during an interview on AIT on Friday, Amaechi explained that the clause was only to guarantee the repayment of the loan and not for Nigeria to lose its sovereignty.
According to him, the federal government approached China for loans, because of their low interest rates, the payback period and moratorium.
Read Also: China Can Seize Assets If Nigeria Defaults On Loans – Amaechi
Amaechi claimed the loans were “given for 20 years at 2.8 per …
