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.
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“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.”