Amaechi raises the alarm over investigation of foreign loans

Amaechi raises the alarm over investigation of foreign loans

The Minister of Transportation, Mr Rotimi Amaechi has observed that the investigations of loans taken by the Federal Government could send the wrong signal to the lenders.

Amaechi made the observation at an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols, and Agreements in Abuja.

He said that the investigation could cause foreign partners to withdraw such loan facilities; noting that this could have a negative effect on Nigeria’s infrastructural development.

Furthermore, the Minister said that he has raised the concerns over the ongoing investigation with the Speaker of the house, Rep. Femi Gbajabiamila.

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Additionally, Amaechi explained that the hearing could stop a particular loan facility the Federal Government is seeking. Specifically, he submitted that the loan was for the completion of the Lagos-Ibadan and Kano rail projects.

However, he recommended that the hearing should be shifted to December when the loan facility would have been acquired.

Meanwhile, the Chairman of the committee, Rep. Nicholas Ossai (PDP-Delta) said that the committee is empowered to conduct overnight before, during, or after loan facilities are acquired.

He said that the committee seeks to review all Nigeria’s bilateral loan agreements to ensure the country is not shortchanged.

Meanwhile, the Chairman of Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa; has appealed to the Niger Delta Development Commission (NDDC) to pay the allowances, tuition fees and other incentives of students on scholarship scheme.

In a statement signed by Mr Gabriel Odu, Head of Media, Public Relations and Protocol Unit, NIDCOM; Dabiri-Erewa said that as a matter of urgency, NDDC should intervene by promptly paying other incentives of students on their scholarship scheme to guarantee their stay and education in the UK.

Equally important, Dabiri-Erewa, in a letter written to the Hon Minister of the Niger Delta; Sen. Godswill Akpabio in June drew the attention of NDDC to the plight of the students that are under their scholarships scheme.

The commission counts on the minister’s assurances that all outstanding payments to affected students will be made.

“At the moment, there have been persistent calls by the students for urgent intervention.”

“The deadline for payment of the fees of some of the students have expired or about to expire; non payment of their allowances have turned many of them to virtually beggars,” she said.

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