SERAP requests Nigeria’s loan details after China’s ‘move to seize’ Uganda airport

user_icon SERAP requests Nigeria’s loan details after China’s ‘move to seize’ Uganda airport Posted by: NOTICE.COM.NG Staff
calendar-icon SERAP requests Nigeria’s loan details after China’s ‘move to seize’ Uganda airport Posted on: 2021-11-29 20:55:21
SERAP requests Nigeria’s loan details after China’s ‘move to seize’ Uganda airport BUHARI-JINPING141243



Socio-Economic Rights and Accountability Project (SERAP) is seeking details of Nigeria’s loan agreement with China.

The human rights organization made the announcement Monday night via its Twitter page.

A terse statement disclosed that a Freedom of Information (FoI) request will be made shortly.

DO YOU KNOW >>> Trailer crushes two motorcycle riders in Adamawa

SERAP wants the repayment conditions for loans obtained by President Muhammadu Buhari and 36 governors since May 29, 2015.

“Knowing details of Chinese loan agreements is a matter of public interest”, the group tweeted.

The demand followed the news that China is set to “take over” Uganda’s Entebbe International Airport over a $200 million facility (Ush712billion).

READ ALSO >>> China to send high-level security experts to Nigeria - Envoy - Insecurity

The funds was provided after a March 31, 2015 agreement between the country and China’s Export-Import (Exim) Bank.

There are fears that some clauses expose Uganda's sovereign assets like the similar concerns in Nigeria.

Embassy spokesperson, Fang Yi, noted that China adheres to the principles of openness, transparency, equity and mutual benefits.

READ ALSO >>> My instruction to Awoniyi, Iheanacho didn’t work – Eguavoen - Nigeria versus Tunisia

"All loans agreements – including the Entebbe Airport expansion and upgrading project – were voluntarily signed by both parties after negotiations without any hidden terms.

"Terms of the loan agreement for the Entebbe Airport expansion and upgrading project are in full compliance with the prevailing conventions and practices in international financial markets."

Yi said not a single project in Africa has ever been confiscated by China because of failing to pay loans.

READ ALSO >>> SERAP asks Buhari to publish Nigeria’s agreement with Twitter

On the contrary, the official clarified, the Asian giant is willing to continue efforts in mproving Africa's capacity for home-driven development

"China has sought to reduce the burden of African countries through debt restructuring, mitigation and reduction by friendly negotiations”, Yi stressed.

In July, China explained that its financial assistance to Nigeria and not a plot to hijack its sovereignty.

READ ALSO >>> Madina Nalwanga Net Worth 2022

 


READ ALSO >>> Do not take sides in investigating ASCSN officials – Labour union tells ICPC - Alleged fraud

LISTEN TO >>> Music Mp3: Ric Hassani - Angel

WATCH >>> Video: CDQ - Agba Picker

READ ALSO >>> Download Music Video: Joro Joro (Prod By Deuce Ace)


For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


Tags:


COMMENTS

NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.


NO POSTED COMMENT