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$500m Chinese Loan: Reps Summon Amaechi, Others Over Railway Contracts

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The House of Representatives has invited the Minister of Transportation, Chibuike Ameachi, his Communications and Finance counterparts, Dr Ali Isa Pantani and Mrs Zainab Ahmed to provide answers on $500million loan to be sourced from the Export-Import Bank of China for railway lines in the country.

The House Committee on Treaties, headed by Rep. Nicholas Ossai (Delta-PDP), also wants the government appointees, to provide details on the agreement signed between the Federal Ministry of Transport and the CCECC in respect of some railway projects in the country.
The projects are the Abuja-Kaduna, Lagos-Ibadan, Ibadan-Kaduna and Kaduna-Kano railways lines.

Also, summoned alongside the ministers is the Director-General of the Debt Management Office (DMO), Ms. Patience Oniha.
Ossai, who issued the summons, said they are expected to appear on August 17, unfailingly with details of the contracts concerned.
According to Ossai, the House would need details on the agreement between the Federal Ministry of Transport and ZTE (Nig) Ltd in respect of the provision of community actions and signalling equipment for the Itakpe-Ajaokuta-Warri line.

Also, the ministers are to provide details of the agreement between Federal Ministry of Transport and the China Railway Construction Company International (CRCCI) in respect of the Itakoe-Abuja line/ New Port in Warri project.
At its sitting, yesterday, the committee raised alarm over alleged waiver of Nigeria’s sovereignty in the government concessions loan agreement on Nigeria National Information and Communication Technology Infrastructure Backbone Phase II project between the government of Nigeria, represented by the Federal Ministry of Finance (borrower) and the Export-Import Bank of China (lender) dated September 5, 2018.

The committee specifically cited Article 8(1) of the agreement, which states that “the borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets”.

But in his presentation, the Minister for Transportation, Chibuike Ameachi, said the loan being sourced by his ministry is a total of $500million to complete the Lagos-Ibadan railway line, which he put at a total of $849million, with $349million as counterpart funding.

He explained that because China, which is giving the loan is sensitive and monitoring happenings in Nigeria, the House committee might wish to give him till end of December when all the loan would have been received.
Amaechi argued that the constant investigations by the National Assembly might give the impression that a part of the government does not approve of the loan and the Chinese government may withdraw the loan.
He said if this happens “some parts of the country will suffer.”

He added that the railway projects (Lagos-Ibadan, Ibadan-Kano) are yet to be completed and these will be affected Amaechi appealed to the committee to consider national interest in carrying out their oversight function.
He said if the Chinese government gets to know that there is a disagreement between the executive and the legislature concerning the loans, the process may be truncated.
“My fear is that if this probe continues, at the end of the day, some sections of the country may suffer. In oversight, there is what is called national interest. But in asking questions on these loans now, it may jeopardize these loans. The Lagos- Ibadan is not completed; the Ibadan-Kano is not completed.

“Let the government of China not say there us a disagreement in government on this loan and so we will not give this loan. So, I appeal to the chairman to give us from now till December, when we are likely to secure the loans. Then, from January, February, you can resume this investigation”.
Amaechi’s plea was not taken as the committee chairman insisted that the minister should return to the committee on August 17 with other ministers to give details of the contract agreements. He said, “we are looking for transparency, which is what the Chinese government wants. So, we will like to have the pre-payment plans from these loans.

“Most of these contracts signed by the government are not known by the National Assembly as provided for in the DMO Act, and we are supposed to know. We need to know how many Chinese are involved in these projects and their expertise.
“In the documents, we have seen there are variations in interest rates. Why do you sign these documents at the same time with different interest rates”.

Similarly, the Senate, yesterday, summoned the Minister of Finance, Zainab Ahmed, her counterpart in the Ministry of Works and Housing, Babatunde Fashola, and the Accountant General of the Federation, Ahmed Idris, to appear before it over the N2.7trillion legacy projects of the Federal Government.
Also summoned were the contractors handling the legacy projects which included the Lagos-Ibadan Expressway, the Abuja-Kaduna-Kano Expressway, and the Second Niger Bridge.
The Senate Committee on Finance led by Senator Solomon Adeola gave the summons after a meeting with the management of the Nigeria Sovereign Investment Authority (NSIA), led by its Managing Director, Uche Orji.
Adeola, who spoke on behalf of the Senate panel, said the committee needed those being summoned to provide information about the variations that had taken place on the projects and the approving authorities.
He also said the panel would need to know details of the agreements signed between the Federal Government and the contractors before the NSIA took over the projects.

There has been an existing tripartite agreement between the NSIA, the Ministry of Finance and the Ministry of Works on the Legacy projects.
The Senate summon was sequel to the disclosure by the MD of the NSIA that his agency had no details of the agreements signed on the projects before he took over.

He said, “On the issue of funding, by virtue of the information at my disposal and by what the finance minister made me to understand, is that you are playing critical roles by providing funds for the legacy projects. As of today, two years down the line, only $300million is in the books, this cause for concern.

“We believe that funding is critical to these projects. If the funding is not there, there is no way we can achieve those time frame that you have set out for the completion of the projects.
“On that note, we would be bringing on board, the Minister of Finance, the Minister of Works and Housing, the Managing Director of the NSIA, the Accountant General of the Federation, and the contractors who should be invited by the Minister of Works.”

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We’ve Only One House Of Assembly Led By Oko-Jumbo, Fubara Clarifies …Signs Into Law N1.188trn Rivers 2025 Budget

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Rivers State Governor, Sir Siminalayi Fubara, has insisted that there is only one House of Assembly existing in the State, and it is led by Rt Hon. Victor Oko-Jumbo.

 

Governor Fubara made the clarification shortly after giving assent to the Rivers State Appropriation Law No.1 of 2025, at Government House in Port Harcourt.

 

The Governor said the records need to be put straight to address insinuations in some quarters about a possible splitter in the Legislature, and stated that there is no such division.

 

Governor Fubara stated: “I want to say this, maybe, for some persons somewhere who are still mixing up issues. We have only one Rivers State House of Assembly, and that Assembly is headed by Rt Hon Victor Oko-Jumbo”.

 

He described those who abdicated their mandate in the House as a group of friends who had embarked on Sinbad journey, and half-way into the journey, they decided to return, saying, “It is too late. We are not going back. As far as I am concerned, we have moved on.”

 

Governor Fubara said that as it stands now, the focus of his administration is to do everything possible in defending the interest of Rivers State and the integrity of governance, and assured that with the 2025 budget now signed, every projection made in it will be addressed to deliver hope and good life to all residents in the State.

 

He said, “We will make sure that we kick-start, so that the record of performance that was accorded by this administration in the year 2024 will be higher in this year, 2025.

 

“Let me first thank the Rivers State House of Assembly for doing very diligent job, and also realizing the task that we have ahead of us, which is to continue to work for Rivers people. So, I want to thank you for working very hard and ensuring that we hit the ground running in this New Year.”

 

Governor Fubara also commended members of the State Executive Council, which he described as the management team, especially the Deputy Governor, for their support and cooperation, and particularly thanked the Commissioners for Finance, and Budget, as well as the Acting Chairman of Rivers State Internal Revenue Board, for the wonderful job they did last year.

 

He noted, “We expect you to do more because we have a bigger task ahead of us. We have made some promises to our people. Education, Health and Agriculture; we must make sure we make good impact just like we have done in the areas of road and other aspects of the economy. We made a promise to you (Rivers people) that we will continue to protect, defend and promote the interest of our dear State.”

 

In his speech, Speaker of Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo, asserted that Rivers people witnessed unprecedented growth in the State made possible by the administration of Governor Fubara in infrastructure development, healthcare delivery, education, social welfare, security and other sectors.

 

Rt Hon Oko-Jumbo pointed to how Governor Fubara has become the beacon of hope of the common man on the streets, because, according to him, they are happy with the positive impact his leadership style has afforded them.

 

The Speaker explained that Governor Fubara has paid Rivers civil servants and pensioners N100,000.00 Christmas Bonus, being the second time; and approved and paid  N85,000.00 minimum wage (salary) to civil servants, which have stood him out as a leader that prioritises the well-being of the people.

 

He said, “Your Excellency, 2025 promises to be a year of strategic planning and partnership. We have no doubt that you will carry out the task of developing and delivering the dividends of democracy to every nook and cranny of Rivers State. So, Your Excellency, on behalf of the 10th Rivers State House of Assembly, we want to say thank you for being the People’s Governor, and thank you for the strategic partnership with the Legislature. Your Excellency, 2025 promises to be a year of exponential growth in Rivers State.”

 

Presenting the 2025 Budget to Governor Fubara for assent, Leader of the House, Hon Sokari Goodboy Sokari, said the total projected estimate of N1,188,962,739,932.36 for the 2025 fiscal year indicated a huge leap from previous year’s figure, indicating progress and assuring multiplication of comfort that good leadership can provide.

 

Hon Sokari also noted the strategic allocations for Recurrent and Capital expenditures that provide for the welfare of workers and retirees, more development projects, as well as savings that will be made from accruing revenues.

 

 

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Tinubu calls for increased currency swap between China, Nigeria

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President Bola Tinubu yesterday urged the Chinese government to increase the two billion dollar currency swap between Nigeria and China to enhance trade between the two countries.

He also called for an upward review of the 50 billion dollar aid package for Africa, which China’s President Xi Jinping announced last year.

China and Nigeria recently renewed their currency swap agreement, valued at 15 billion yuan (approximately 2 billion dollars), to enhance trade and investment.

Receiving Wang Yi, the Minister of Foreign Affairs of China, at the State House, the President said increasing the level of currency swaps would speed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.

“We still demand more in the area of currency swap. The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated.

“Our bond should grow stronger and become unbreakable,” the President said.

Regarding the 50 billion dollars pledged by the Chinese government to support Africa, President Tinubu noted that the continent’s infrastructural needs would require more commitment, urging a review of the amount to reflect the continent’s reality.

“I am happy you are part of China’s highest decision-making body. We will want you to use your position to influence improved project funding.

“First, I say yes to the 50 billion dollar support, and thank you for contributing to African growth. The infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts.

“All share your vision of rapid development. Africa values the relationship with China, and we seek deeper collaboration for infrastructural development,” he stated.

President Tinubu called on China to support Nigeria’s bid for a permanent United Nations Security Council seat.

“You are a member of the UN Security Council. We want you to use your influence to ensure Nigeria secures the seat,” the President said.

Tinubu said Africa, particularly Nigeria, was prepared to meet developmental goals and contribute counterpart project funding.

“We are ready to move and reach the various developmental goals. Due to our deliberation, we signed many MOUs and planned many action programmes.

“My visit during FOCAC was a good experience. We signed several comprehensive MOUs during the visit. We planned several programmes of action,” he said.

Yi thanked Tinubu for appointing a Director General and Global Liaison, Nigeria—China Strategic Partnership, to oversee the implementation of the MOUs for the rapid development of the Nigerian economy.

“I would like to thank Nigeria for abiding by the one-China principle, and we will continue to support Nigeria in achieving the Renewed Hope Agenda, countering terrorism and ensuring regional security,” he said.

Yi said Chinese investments in the country would focus on employment generation and infrastructural development.

He said the Chinese National Development Bank had started funding some development projects.

He also said the Chinese government would support including an African country in the UN Security Council.

“We stand with Africa, and we will not support a country that invades another country,” he stated.

The foreign minister said China would welcome Nigeria’s membership in the BRICS and participation in the global development mechanism.

He said China fully supported Dr Ngozi Okonjo-Iweala, the Director General of the World Trade Organisation (WTO), for a second term in office.

The minister lauded President Tinubu for his visionary leadership and consistency in projecting Africa’s needs, which require China’s support.

“You brought Renewed Hope to the people of Nigeria. Your economy has sustained sound momentum, and Nigeria’s global influence has steadily increased.

“Nigeria has played an important role in upholding regional peace and has become an important force for African stability.

“We congratulate Nigeria on its achievements and believe that, under your leadership, Nigeria will realise greater achievements,” the Chinese foreign minister stated.

 

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FG urges unified efforts against emerging COVID-19 threats

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The Federal Government has called for unified efforts by stakeholders to tackle the emerging COVID-19 variants in the country.

Prof. Muhammed Ali Pate, the Coordinating Minister of Health and Social Development, made the call in Abuja on Thursday, at a strategic meeting on COVID-19 preparedness and response.

The meeting was organised by the National Emergency Management Agency (NEMA), following the recent emergence of a new COVID-19 variant in China and subsequent international concerns about the spread of the deadly virus.

The Tide source reports that NEMA conveyed the strategic stakeholders meeting to discuss preparedness, response plans, and proactive measures within Nigeria’s national context against the virus.

The minister, represented by a Director in Public Health Department at the Ministry, Mrs Chidinma Agbai, highlighted the devastating global impact of the pandemic and Nigeria’s resilience in spite of initial dire predictions.

He warned against misinformation and urged collaboration among stakeholders, including health officials and the media, to strengthen border controls and revive pandemic response infrastructure.

“A couple of months, the global world became affected one way or the other. you saw the number of people that were lost. They were counted in millions, people that were lost through COVID-19.

“You also saw the countermeasures that were taken by various countries. And surprisingly, those of us in Africa and Nigeria in particular, were expected to count our dead in millions. But God being our helper, It did not consume so much.

“But one life is a serious loss to a nation. So many Nigerians lost their lives, not really because of COVID-19, but because of countermeasures,” he said.

According to him, during the last COVID-19 and Ebola, people were told to take salt. Some people were told to take potash. So many countermeasures were introduced, and a lot of people lost their lives.

“So, now again in this harmattan period, we have to be careful because  COVID-19 started in the harmattan period too, in the past years, it has reared its head again in China.

“This time around, it’s a mutant type that has come up. And China, being what it is, is keeping quiet. They don’t want to raise alarm as to what they are experiencing.

“They’ve closed their doors to various appeals for them to speak up.

“So for us in Nigeria, we have to put deliberate efforts to ensure that those who are coming into Nigeria, or those who are leaving the country, are protected,” he said.

He emphasised the importance of agencies such as the Nigerian Immigration Service (NIS) and others in ensuring that the country’s borders were under surveillance.

He urged that similar measure taken to curtail Ebola some years back should be applied at the airports, the land borders and the sea ports to secure the lives of Nigerians.

The minister also called for renewed efforts in vaccine development and public education to prevent panic and safeguard lives.

The Director-General of NEMA, Mrs Zubaida Umar, in her remarks called for proactive planning, collaboration, and resource mobilisation to safeguard the country’s public health emergencies.

Umar, who was represented by the Director, Planning Research and Forecasting, Mr Onimode Bandele, said that the meeting was crucial amid global concerns.

The director-general stressed the importance of information sharing, transparency, and a unified approach in addressing the challenge.

“The recent COVID-19 situation emerging from China serves as a stark reminder that public health emergency recognises no borders.

“In today’s interconnected world, a health threat in one country has the potential to impact nations across continents.

“While Nigeria is not directly affected at the moment, proactive planning, preparedness, and collaboration are essential to safeguarding our citizens and mitigating any potential risk.

“In line with this mandate, NEMA aims to be number one to share insight and update on the current global COVID-19 situation and its potential implication for Nigeria,” she said.

Umar also reaffirmed NEMA’s commitment to effective disaster management and urged unified efforts to maintain Nigeria’s resilience against global health threats.

On his part, Mr Hopewell Munyari, Operations Manager, International Federation of Red cross, urged Nigerians to learn from the COVID-19 response to improve future emergency efforts.

Munyari underscored the Nigerian Red Cross’s role as an auxiliary to government, actively working on responses like Lassa fever and mFox outbreaks.

He also called for leveraging global Red Cross networks and volunteers to enhance preparedness and ensure timely, reliable communication with communities.

 

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