Nigerian government is planning to borrow another $3billion from China to fund infrastructural projects.

The Minister of Transportation, Mr. Rotimi Amaechi, revealed this at a time when there are controversies trailing the Federal Government’s planned securement of $500million loan from China.

Amaechi, speaking on Channels Television’s Politics Today on Tuesday, said the country might lose a chance of taking another $3billion loan

He said the Nigerian government planned to use the loan in executing the rail from Port Harcourt to Maiduguri.

The transport minister said:

THE REASON WHY I SAID THAT IS BECAUSE WE HAVE ALREADY APPLIED FOR $5.3BILLION TO EXECUTE THE RAIL FROM IBADAN TO KANO.

WE ARE ABOUT APPLYING FOR ABOUT $3BILLION TO EXECUTE THE RAIL FROM PORT HARCOURT TO MAIDUGURI.

He added that the lawmakers approved the loans that have generated many controversies.

Amaechi wondered why the same lawmakers who approved the loan are now questioning the same loan.

He said the lawmakers look at the terms of the loan before.

He said:

DON’T FORGET THE NATIONAL ASSEMBLY APPROVED THAT LOAN.

IT IS UNCONSTITUTIONAL AND IMPEACHABLE IF YOU TAKE A LOAN WITHOUT THE APPROVAL OF THE NATIONAL ASSEMBLY.

SO THE SAME NATIONAL ASSEMBLY THAT APPROVE THE LOAN IS NOW QUESTIONING THE SAME LOAN AND THE TERMS OF THE LOAN HAVING LOOKED AT IT BEFORE.

If I am the lender, I will be worried. If they get worried, they will say ‘No, we will not approve the remaining loans you have applied for.

https://freshreporters.com/fg-applying-another-3b-chinese-loan-amaechi/

Keep on deceiving yourself

Las Las... Naija Don crash.. Buhari don sell us finish..

Fake news

johnmartus:
Fake news

Shey you dey there weh E happen?
..abi na u report the news

Babzrockman:
Las Las... Naija Don crash.. Buhari don sell us finish..

This country ehnnnn

Let them borrow as much as they want , their children wouldn't pay neither would mine ...
If you share the same thought , as I do save as much as possible , no amount is too small ...procure your visa to any country outside Nigeria ...even if its South Africa -- xenophobia is better than debt ...

So you want to start constitute nuisance here.

Forty11:
[s][/s]

he said it last month.
not in govt to solve nigerian problem.

Scam of a people. Ignorance is a very bad disease. If not ignorance we have no business bringing Buhari to government.

1) Where is the revenue from fuel increase 86 naira to 143 naira?

2) Where is the revenue from recovered loots?

3) Where is revenue from stamp duties?

4) Where is revenue from Abacha loot?

5) Where is revenue from VAT increase?

6) Where is revenue from customs?

7) Where is revenue from FIRS?

Where is revenue from all these?

Why borrow borrow borrow? You said PDP stole money, oya catch them to return the money and work with it na. Who will not have projects to execute if he borrows money?

Its just like me taking loan from Gtbank and building a mansion in the village. People will come and hail me no knowing that my lenders will later come for their money.

Any government who fails to galvanize strength to generate enough income for its projects is a BIG FAILURE. Morons can keep on hailing you guys but one thing I have always said is that education is not golden.