The Minister of Transportation, Chibuike Amaechi, has said there was nothing wrong if Nigeria cedes her sovereignty to China. Amaechi said this while fielding questions on the controversies surrounding the $500 million loan from China on Channels Television’s Politics Today.
The Minister 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. “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 your father, if we want to give you $500m we want you to waive the immunity that will stop us from taking your arbitration if you default.”