There Are Clauses In Loan Deal Conceding Nigeria’s Sovereignty To China: Reps

National Assembly
National Assembly

A house of representatives panel says there are clauses conceding Nigeria’s sovereignty to China in a loan agreement.

The panel described the clause contained in article 8(1) of the commercial loan agreement between Nigeria and Export-Import Bank of China as ‘lethal’.

The Muhammadu Buhari had obtained a  $400 million loan for Galaxy Backbone, federal government’s information and communication technology (ICT) agency, in 2018.

The agreement of the loan was revealed when an investigative hearing was conducted by the house committee on treaties and agreements chaired by Nicholas Ossai, a lawmaker from Delta state, and Rotimi Amaechi, minister of transportation, appeared before the panel.

“The borrower (Nigeria) hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets,” the clause as reported by Tribune read.

According to the chairman of the committee, there are agreements signed by the ministry of communications and digital economy where the country’s sovereignty will be breached if it defaults in the agreements.

“When the national assembly reacts in this manner, to question some level of agreements being entered into by any ministry of this country with any other nation, we have every right to question that because anything that is going to happen will happen to our generations unborn. Whether we get it from China or not is immaterial,” Ossai said.

Read Also: Acting NDDC MD Faints While Being Probed By House Of Reps Committee (Video)

“The most important thing is that we must save and protect our people as regards agreements, because most of the agreements that have been signed, the national assembly has no knowledge.

“Even the details embedded in those agreements are not forwarded to you when demanding counterpart funding.

“You don’t have the details, clause by clause, in line with the Act that established DMO. We need to know those details even before going to sign such agreements. But those details are not provided to the parliament.

“So, we have the right to question them.”

The house treaties committee summoned Isa Pantami, communications minister; Zainab Ahmed, finance minister, and Patience Oniha, director-general of the Debt Management Office (DMO), to appear before it on August 17.

LEAVE A REPLY

Please enter your comment!
Please enter your name here