Former Governor of Rivers State and current Minister of Transportation, Chibuike Amaechi has said that there is no cause for alarm as the country is already repaying China loans.
The minister who made this known on Saturday in an interview on AIT, said the federal government has paid $96m out of the $500m it borrowed.
He said, “We are paying the loans.
“In the same National Assembly sitting, they were told that the $500million loan, we have paid $96m already.
“Nigeria is already paying and the $500m was not taken by us, it was taken by President Goodluck Jonathan in his term and that clause was there,” he said.
“Anybody that is saying he doesn’t know what a sovereign guarantee or immunity is, too bad for the person, because it simply means in trade that I am not giving you this loan free of charge, just like you go to the bank to collect a loan, the moment you don’t pay they go after your assets you put down,” he asserted.
