Buhari Obtaining Loans From China And Reasons Why

Buhari Obtaining Loans From China And Reasons Why
 
President Muhammadu Buhari
Mrs Juliet Ibekaku-Nwagwu,the Special Assistant to the President on Justice Reform Sector/National Coordinator, Open Government Partnership, has defended the hefty loans obtained by her principal from China.
Reacting to criticisms, she said that loan from China would mortgage the future of the country, that Nigeria needs the loan from China to correct infrastructure deficit, achieve economic recovery as well as its growth plan within the shortest time frame.
She said that Buhari’s administration had tied each loan to specific capital projects with terms and conditions of contract clearly spelt out with prospective contractors before China released such funds.
According to her, some of the debts incurred are self-liquidating. And in her exact words she said,
“It is better to collect a loan and use it to build standard roads that can be repaid with monies collected from toll-gates than allowing such roads in deplorable conditions.”
On the complaint that projects to be financed with such loans would go to Chinese firms, she said that the bottom line was delivering quality projects and not who gets what.
She added that Nigeria’s patnership with China had resulted in the execution of vital projects on infrastructure valued at over five billion dollars across the country in the last three years. The projects were in the areas of infrastructure, human capacity development, power, transport and agriculture.
Ibekaku-Nwagwu, who is a Senatorial aspirant in Enugu West on the platform of the All Progressives Congress,  urged the people of Enugu West to support the President and his aspiration to help make appropriate legislation in the 9th Assembly for the good governance of the zone and the country at large.
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