African Media Agency (AMA)
Nigeria: Messing Up Nigeria With Chinese Loans
[This Day] In sane climes, when a government signs any loan agreement, the interest of the citizens is prioritised. That has not been the case with loan agreements signed with China by Nigerian governments – past and present. Some critical things are signed away by our governments in these deals. Between 2010 and March 31, 2020, 11 of such loans have been obtained from the China Exim Bank. They all have a seven-year moratorium, 20 years tenor and obtained at 2.5 per cent interest rate, with varying maturity dates.