The Minister of Transportation, Rotimi Amaechi, on Wednesday said if the National Assembly was not at ease with government’s borrowings from China, it should come up with where huge infrastructure funds could be accessed.
In responding to his probes, he stressed that such probes could hinder the release of more funds to the country.
Also responding to The House of Representatives Committee’s allegations that Nigerian government ministries are signing off the country’s sovereignty in Chinese loan agreements, Amaechi said,
“It is simple; for example, the loan to construct Ibadan to Kano rail is $5.3bn. The implication is that if by the end of the day, you don’t pay back our money, whatever we need to take from you, we will take from you.”
He also said, “But what the Chinese normally do is that they go after the same asset to recover their money. So what is wrong with that?”
Ameachi said if the lawmakers are of the opinion that borrowing money from China is unsafe, they should tell the Federal Government where to get loans from for the development of national infrastructures.
He said, “Secondly, I have told the National Assembly that there is nothing wrong with investigation.
He added, “And then the loan for Lagos to Calabar being pursued with the Russians may also be lost, and the areas covered include Ore, Bennin to Asaba, Onitsha, Warri, Uyo, Calabar.”