Politics
Transport Minister,Amaechi worried about foreign loans
The Minister of Transportation, Rotimi Amaechi has observed that the investigation of loans taken by the Federal Government could send the wrong signal to the lenders.
Ameachi made the observation at an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols and Agreements in Abuja, NAN reports.
He said that the investigation could cause foreign partners to withdraw such loan facilities which have a negative effect on Nigeria’s infrastructural development.
The minister said that he has raised concerns over the ongoing investigation with the Speaker of the House, Rep. Femi Gbajabimila.
Amechi explained that the hearing could stop the loan facility the Federal Government ”is seeking for the completion of the Lagos-Ibadan and Kano rail projects”.
He, however, recommended that the hearing should be shifted to December when the loan facility would have been acquired.
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 agreement to ensure the country is not shortchanged.
- Sports19 hours ago
NBA playoffs: Timberwolves cruise past Suns for 2-0 lead despite off night from Anthony Edwards, Karl-Anthony Towns
- Top Stories20 hours ago
Yahaya Bello: Do Not Allow Yourself Become A Tool Of Political Vendetta And Intimidation – Kogi Assembly To EFCC
- Entertainment19 hours ago
BREAKING: Popular Veteran Nollywood Actor is Dead [Video]
- News19 hours ago
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 24th April 2024
- News11 hours ago
FG Announces Commencement Of Loan Scheme For All Nigerians (See How To Apply)
- Business and Brands11 hours ago
Labour Union Demands ₦350,000 As New Minimum Wage
- News20 hours ago
FG Summons Lead British School Management Over Bullying
- News14 hours ago
Tesla stock surges as EV maker will ‘accelerate’ the launch of cheaper cars