Malachy Odo II who used the micro blogging app, twitter to express his feelings over the Chinese loan to Nigeria. Malachy was of the opinion that the Chinese Gov gave Nigerian Gov loan to build railway line, but the Nigerian gov decided to build a railway in the desert.
You will recall that the Minister for transport Hon Rotimi Amaechi hinted that the Chinese have stopped funding Nigerian government projects and that this has forced the Federal government to start looking for loans in Europe to complete existing jobs.?
Malachy went further to say that, since the money has finished, the FG is expecting them to give them another loan
“China gave you loan to build railways and you decided to build one to the deserts of Niger.
Now money has finished and you expect them to give you more loans because you think everyone is as mad as you.”
To put things straight, Tolu Ogunlesi, Special Assistant to President Buhari on Digital and New Media, who saw the tweet and responded by explaining to Malachy how the Chinese loan works.
In his response he said,
“Made a vow to mostly mind my Biz this year. But when I see a horribly wrong, IGNORANT, stupid tweet like this, I can’t help diving in Grinning face
1. China doesn’t give you money to do as you please with.
2. Kano-Maradi Rail is NOT a Chinese project!
“China gave you loan to build railways and you decided to build one to the deserts of Niger.”
Clearly ignorant as to how these loans work. He thinks China just hands over cash and
decides to do whatever they wish with the cash.
LMAO. This is really daft, sorry.
All loans from China are tied to specific projects – so far the portfolio includes Rail, Airport and ICT projects. The details are public, on @DMONigeria website.
So the idea that Nigeria can decide what to use a loan for, post-approval, suggests this person KNOWS NOTHING
All of the rail loans so far have come from China Exim Bank. Bank pays contractor directly, doesn’t give money to @NigeriaGov
If anything it is @NigeriaGov that even drops money, in the form of “counterpart” financing (usually 15%), as a condition for loan disbursement.
The other important point is that Kano-Maradi Rail is not a Chinese project – not in the financing, not in the selected contractor!
Mota Engil that won the contract is a Portuguese construction and logistics Group!
All of this info is just a Google Search away!!!!!!!!!!
Meanwhile thousands of people have liked or RT’ed that nonsense.
You people should stop coming to this App to chat nonsense. Stop coming to pontificate on stuff you have zero knowledge or understanding of. Please.