Former Governor of Rivers State and current Minister of Transportation, Chibuike Rotimi Amaechi has announced that the national assembly was aware of the loan secured by the government from China. This is primarily because it gave approval for the loan.
Amaech, in a statement yestetday said “There is no loan in Nigeria that will not be approved by the National Assembly. The Chinese government will not even give you a loan without approval from the National Assembly.”
He noted that the clause in the loan agreement is a standard one whether it is America or Britain the country signs an agreement with, simply because the countries want to know if they can get back their money.
The minister who confirmed that they have started paying back some of the debts said the only way the country can experience infrastructural development at the moment was for it to borrow, which is nothing bad.
