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China Can Seize Assets If Nigeria Defaults On Loan Repayments – Amaechi Warns

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The Minister of Transportation, Mr. Rotimi Amaechi, has said if Nigeria defaults on loans repayment, China has right to take over those assets and run them until it recovers its money.

The minister spoke to journalists yesterday at Idu train station in Abuja during a COVID-19 protocol compliance and inspection after rail operation resumed.

The House of Representatives in their probe of Chinese loans to Nigeria found that the agreements ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

But Amaechi said: “What the Chinese normally do is that they go after the same asset to recover their money.

So what is wrong with that? You are asking for $5.3bn.

Just give that sovereignty.

Now for me, the National Assembly in its wisdom thinks that is wrong, then they should tell us how to get the money to build these infrastructures.”

The loan to construct Ibadan to Kano rail is $5.3bn, and is being planned.

He said there was nothing wrong with the investigation but that it should not jeopardise the government’s means of raising capital for long-term infrastructure development.

On the Abuja-Kaduna rail service loan, he said the Ministry of Finance, Budget and National Planning has already opened an account where operating surpluses would be deposited monthly to raise money to start the $1.1bn loan repayment.

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Just In: Former Lagos Governor, Babatunde Fashola Picked As 2023 Presidential Candidate

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The race for who becomes the next president of Nigeria has taken a new turn as a former governor of Lagos state, Babatunde Raji Fashola has been picked by a group of people to succeed President Muhammadu Buhari.

JomogNews Nigeria reports that the group, pushing the agenda ‘The Nigeria Project’ is set to launch officially on the 2nd of October, 2021 to further make its decision to pick Fashola known.

Also, the governor of Borno state, Prof Babagana has been picked as the preferred running mate of Fashola ahead of 2023.

This is coming after several individuals within the APC have shown interest in the coming election.

In addition, a flier has been going viral in the social media scene as shared below:

 

 

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2023: Southern Nigeria Has Qualified People As President – Afenifere Dismisses Northern Elders’ Position

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JomogNews Nigeria reports that the Yoruba socio-political organization, Afenifere, has insisted that the Southern part of Nigeria has qualified people to rule the country.

Jare Ajayi, who Afenifere’s National Publicity Secretary, said power must shift to the Southern part of the country in 2023.

Ajayi, who spoke exclusively to DAILY POST was reacting to a remark by the Northern Elders Forum, NEF, on the North producing President Muhammadu Buhari’s successor.

Hakeem Baba-Ahmed, NEF spokesperson had said the North was not ready to relinquish power in 2023.

Baba-Ahmed had said the heavens would not fall if the North produces the next president, stressing that those against it should exit Nigeria if it happens in 2023.

The NEF spokesman had disclosed this at the Maitama Sule Leadership Lecture Series in Zaria, Kaduna.

Reacting, Ajayi said Baba-Ahmed’s remark showed that he is a sectional thinker.

He said: “Such an expression can only come out of the mouth of somebody who does not give a hoot about the other part of the country. I understand that Baba-Ahmed was a retired Permanent Secretary at the Federal level, and I expect that a person of that caliber would be nationalistic in nature and in his utterances.

“It’s not surprising that what is in his mind is what is coming out of his mouth; this has shown clearly that this man is sectional in his thinking.

“Saying that heavens will not fall means he does not wish the country well, that is why he is saying such.

“Our position is that, for Nigerians to have a sense of equity, harmony, and belonging, it will be fair that every part of the country partakes in the governance of the country. So, the presidency of Nigeria must shift to the Southern part of the country in 2023.

“And before that election, Nigeria should be restructured. We are sure of it and it has to happen.

“So, the Baba-Ahmeds of this world cannot be the ones to determine for all Nigerians; that will not happen.

“There is no part of the country that does not have people qualified to rule, which means that if we are to go by merit, every part of this country can produce a president.”

 

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Implement Transportation Law, Lagos Assembly Charges MDAs

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The Lagos State House of Assembly has charged the Ministry of Transportation, related departments and agencies to ensure effective enforcement of the State’s transportation laws, especially as it relates to commercial motorcycle riders.

The call was made by the House Committee On Transportation which is currently on its oversight to the various agencies.

During a visit to the Ministry, the Motor Vechicle Adminnistration Agency (MVAA) and the Lagos Metropolitan Area Transportation Agency (LAMATA) on Tuesday, the Chairman of the Committee, Hon. Temitope Adewale, said that effective enforcement of the laws would save residents and discourage the plying of major roads by Okada riders.

He said such enforcement would also help to stop the use of one-way by drivers.

Adewale, who commended the management of MVAA over its revenue generation, advised the agency to device means within the laws to actualise its mandate inspite of the challenges facing it.

According to the lawmaker, based on the revenue generated so far by the agency, it shows that Lagos is a prosperous State despite the country’s economic downturn.

At LAMATA, the commiittee chairman commended the agency for ensuring effective mass transit, adding that the state would continue to witness infrastructural development in the transportation sector.

Adewale also urged the agency to quickly complete ongoing projects so that new ones should commence before the weather becomes unfriendly.

Meanwhile, the Commissioner for Transportation, Dr Fredrick Oladeinde, said the ministry would continue to work with the House of Assembly to ensure the effective delivery of dividends of democracy.

Oladeinde said the ministry would further ensure that people are able to drive seamlessly from one point to the other without fear as he said the State has a transport masterplan which would address the challenges facing the sector.

On his part, Mr Oluwatoyin Fayinka, Special Adviser on Transportation to Governor Babajide Sanwo-Olu, canvassed for budget line to enhance the productivity of his office.

Also, the General Manager of MVAA, Mrs Lape Kilanko, pointed out the challenges facing the agency as he sought the assistance of the House in addressing them.

Kilanko lamented that local governments and Local Council Development Authorities, LCDAs, were collecting the revenue that the agency was saddled to collect and that this had affected the revenue drive of the agency.

She said the agency has accommodation problem which is affecting its productivity.

Members of the committee present at the oversight were; Hon. Ganiyu Okanlawon, Hon. Sylvester Ogunkelu and Hon. Tijani Surajudeen.

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