Chinese loans to Nigeria mutually beneficial

Mr Cui Jianchun, Ambassador of the People’s Republic of China to Nigeria, says loans to Nigeria are for mutual benefits as both countries have a history of good friendship and bilateral relations.
Jianchun made this known on Thursday while responding to questions on the Chinese Loans to Nigeria at a seminar on ‘Learning from the Chinese Communist Party’s History and Creating a Brighter Future’ at the University of Abuja.
He said that some super powers are however, painting a bad image of the situation.
The envoy explained that it is only logical that when one borrows money to a friend or business partner, one will also think of how to get the value of the money back.
“Some politicians have tried to use the new colonial system mind-set to say that “ok, if I lend you money, if you cannot pay me back, you will lose your sovereignty.”
“But I want to let you know that the logic is that first, the Chinese side love to do something for Nigeria, not only to help, but also, this is beneficial to the two countries.
“For example, the Chinese side can work with Nigeria for the railway station because now, money is a big constraint, just like in 1978, we had no money.
“I had a lot of experience at that time. In China, we didn’t have money, we didn’t have technology and we didn’t know how to manage the economy.
“But I do believe that now, at this critical time, we need the money to develop this country. We cannot wait for five years, ten years later.


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