Chinese loans: Turning facts on their head

August 12, 2020
8 Views

The current negative narratives generated over the Chinese loans obtained by Nigeria since 2010 is worrisome. It is a complete distraction for the real business of governance, especially in the area of the provision of the badly needed infrastructure in the country.

It is sad to note that the opposition Peoples Democratic Party (PDP) that actually started the Chinese loan process in 2010 has turned around to shamelessly take the lead in mobilising  labour and civil societies, albeit with vested interests, to continue to attack the present government.

It is on record that between December 2010 and September 2013, under the PDP, the Federal Government obtained a total of $2.983.82 billion loans from China while the current All Progressives Congress (APC) administration between April 2016 to May 2018 obtained a total loan of $2.591.9 billion from China to revamp critical infrastructure across the country.

From the figures presented above, the loans obtained by the PDP led government are more than what the present government has obtained with almost $400 million.  Why is the opposition party crying foul if not to serve political interests? We know that elections are coming again and that politicians turn the facts on their head to gain cheap political popularity but in matters that centre on national development and the welfare of the ordinary people, reasons should be allowed to prevail over sentiments or individual political gains.

The PDP government that actually started the borrowing from China under the same terms has no moral basis to complain and raise a storm when a successive government does the same. If there is anything at all, the PDP should be the one to bear all the criticisms because they tied the hands of Nigeria in the loan agreements. And if labour and civil societies have any grouse, they should direct it at the opposition party.

Those who are buying in on the PDP’s cheap blackmail and calling for a showdown with the government over loans that have been effectively applied should think twice before allowing themselves to be used to serve personal political interests.

It should be noted that government is a continuum and what is sauce for the goose is sauce for the gander.

Dr. Joseph Ejemhen,

Abuja

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