Africa Press-Nigeria:
The minister of transportation, Rotimi Amaechi, has disclosed that Nigeria is already repaying China loans.
The minister made this known during a live television programme (Democracy Today) aired on AIT on Saturday, August 1.
According to him, out of the $500m loan the federal government took to build the Abuja-Kaduna rail line, $96m has been paid.
Amaechi said Nigeria is capable of paying all the China loans, Daily Trust reports.
However, he noted that the loan was not taken by the present administration led by President Muhammadu Buhari.
“Nigeria is already paying and the $500m was not taking by us, it was taken by President Goodluck Jonathan in his term and that clause was there,” he said.
The minister further explained that it was just a clause put there to protect China money and there was no cause for alarm.
“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.
