Amaechi stated that the clause was included in the loan deal with China, in order to ensure the recovery of the $400 million loan.
The Minister of Transportation, Rotimi Amaechi, has explained why there is nothing wrong with the Federal Government ceding Nigeria’s sovereignty to China, in the signing of a loan deal with the Asian country, igbowatch learnt.
“It is not ceding sovereignty in the technical sense of it. It is ceding sovereignty, giving them power, in order for them to recover their assets, if they need to recover it, to be able to recover their money. So, I do not see what is wrong with that”, Amaechi said.
He however, allayed fears of Nigeria losing its sovereignty.
He added: “Nobody can take away the sovereignty of Nigeria.”
Earlier, the Chairman of the House Committee on Treaties and Protocols, Ossai Nicholas Ossai, demanded answers to why a clause ceding Nigeria’s sovereignty to China, was included in the said loan deal.
He said: “We have also seen a clause where sovereignty is waived, if we default. We have seen it in the document. It is there in the document. The sovereignty of our country is waived.
“And I believe that this particular clause was not part of what was brought to the National Assembly to approve, because no National Assembly member would see that clause and approve such