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House of Representatives to review, cancellation of Chinese loans to Nigeria


House of Representatives yesterday mandated its Committees on Treaties, Protocols and Agreements, Finance as well as Debt Management, DMO to liaise with the Ministry of Finance and the DMO office Debt to seek for review or outright cancellation of latest China loans to Nigeria, on the principle of force majeur.
The House is also set to empanel a high powered Investigation Committee to look into all extant China/Nigeria loan agreements since 2000 with a view to ascertaining their viability, regularising and renegotiating them.
The House said that that National Assembly had been put in the dark on how most of the Chinese loans were collected and utilised by the federal government.
The resolutions are however coming on the heels of the coronavirus pandemic which originated from Wuhan, China last year and had affected the global community.

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