Amaechi: No Nigerian property mortgaged for China loans
The Minister of Transportation, Mr Rotimi Amaechi said on Monday that the Nigerian government did not mortgage any property to secure infrastructural loans from China.
Amaechi made the clarification at the 6th Annual East African Transport Infrastructure conference held in Nairobi, Kenya.
According to Amaechi, Nigeria did not offer China any such comfort because the country has the ability
According to him, China is the only country that can give out loan for infrastructure. He claimed developed countries also borrow from China. If you don’t go to China, who will give you money? America is going to China even Russia. What is wrong if Nigeria goes to China? I think we should not be afraid of China. Nobody runs railway with passenger fares. You can never get one Naira out of it. Nigerians think railway is just to carry passengers but the problem is that the goods that should be on the rail are the ones on the road and they are destroying the roads. Once we conclude the rail projects and those goods are transferred to the rail, that is when we will start making money to pay our debts. Currently our trains are carrying passengers. People are celebrating Lagos-Ibadan because they are looking at it that “oh, I’ll just jump into the train and one hour after, I’m already in Ibadan”. That’s not the overall aim. The reason the federal government said we must get to the seaport is to de-congest the Apapa seaport. That’s where the money lies, he noted.