Loans: There’s nothing wrong with ceding Nigeria’s sovereignty to China – Amaechi [VIDEO]

The Minister of Transportation, Chibuike Amaechi, has said there was nothing wrong with Nigeria ceding her sovereignty to China.

The Minister was fielding questions on the controversies surrounding the $500 million loan from China on Channels Television’s Politics Today.

Amaechi insisted that Chinese loans are the cheapest form of loans the country can get anywhere.

“What is wrong with Nigeria ceding its sovereignty to China?” Amaechi asked Tuesday evening.

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“I said this because the sovereignty you are ceding is not the sovereignty that makes you a nation.

“If you watch my interview with the AIT, you’ll see that I was very proud to have been trained at the University of Port Harcourt because that training at the University of Port Harcourt makes me understand that there’s a difference between what the honourable Minister of Justice was explaining today – what is diplomatic immunity, jurisdictional immunity and commercial immunity.

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“Just like the commercial banks will ask you for collateral before giving you loan, this country is saying we’re not Nigerians; we’re not you father, if we want to give you $500m we want you to wave the immunity that will stop us from taken you arbitration if you default.”

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