Sovereignty Loan Clause: Chinese Government Finally Speaks |MUST READ

The Chinese Foreign Ministry, CFM, yesterday denied that China had any clause in its loan contracts ceding Nigeria’ sovereignty to China.

Recall that last week members of the House of Representatives claimed they had uncovered clauses in a loan obtained by Nigeria from China that conceded Nigeria’ sovereignty to China.

But the Chinese foreign ministry in a statement said “We follow a “five-no” approach in our relations with Africa: no interference in African countries’ pursuit of development paths that fit their national conditions; no interference in African countries’ internal affairs; no imposition of our will on African countries; no attachment of political strings to assistance to Africa; and no seeking of selfish political gains in investment and financing cooperation with Africa,” the ministry quoted President Xi Jinping, as saying at the FOCAC Beijing Summit in 2018.

The foreign ministry said “China is committed to enhancing investment and financial cooperation with African countries based on their needs to help them improve infrastructure and extradite socioeconomic development. By funding infrastructure and other areas that lag behind for short of money, we have helped the relevant countries break bottlenecks, enhance their capacity for independent development, realize social and economic sustainable development, and improve people’s livelihood. Such cooperation has delivered tangible benefits to African countries and peoples.

“In the process, China always gives full consideration to debt sustainability and seeks mutually-acceptable proposals through equal and friendly consultations. That is the fundamental reason behind the enormous popularity of China-Africa cooperation in Africa.”