Federal House of Representatives committee has alerted the country over clauses conceding Nigeria’s sovereignty to China in a loan agreement.
The House Committee on Treaties and Agreements chaired by Nicholas Ossai during it’s interaction with the Minister for Transportation, Rotimi Amaechi during an investigative session were shocked to discover the clause in the loan repayment agreement which appears too draconian.
The clause according Today.ng read;
“The borrower (Nigeria) 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.
“When the National Assembly reacts in this manner, to question some level of agreements being entered into by any Ministry of this country with any other nation, we have every right to question that because anything that is going to happen will happen to our generations unborn. Whether we get it from China or not is immaterial.
“The most important thing is that we must save and protect our people as regards agreements, because most of the agreements that have been signed, the national assembly has no knowledge.
“Even the details embedded in those agreements are not forwarded to you when demanding counterpart funding.
“You don’t have the details, clause by clause, in line with the Act that established DMO. We need to know those details even before going to sign such agreements. But those details are not provided to the parliament.
“So, we have the right to question them,” Ossai said.