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Home News Politics FG Is Applying For Another $3b Chinese Loan – Amaechi

FG Is Applying For Another $3b Chinese Loan – Amaechi

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


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