General
FG Pays 19% of $500m Chinese Loan
By Adedapo Adesanya
The federal government has paid 19.2 per cent, amounting to $96 million, of the $500 million loan it collected from China for the construction of rail projects.
This disclosure was made by the Minister of Transportation, Mr Rotimi Amaechi, in a statement on Saturday, where he disclosed that the country will pay up the remaining balance within the stipulated period of 20 years.
He said China was the only country giving out loans with a low-interest rate of 2.8 per cent, noting that no country in the world would give out a loan without a guarantee to pay back such loans.
He said, “The trade agreement between Nigeria and China, the ministry of transportation does not take loan, everything about loan is directed to the Ministry of Finance, so, I couldn’t have signed any loan because I don’t take loan.
“What I signed is what is called a commercial contract, which is contract between the Federal Government and CCECC as a contractor, the contract between Nigeria and China is usually signed by the ministry of finance.
“Whether is the ministry of finance that signed it or the ministry of transportation, the issue is that nobody will give you loan free of charge.
“There must be an agreement and such agreement must contain some terms, that doesn’t mean that you are signing away the sovereignty of the country, no country will sign out its sovereignty.
“What clause 8 says is, I expect you to pay according to those terms we have agreed, if you don’t pay, don’t throw your immunity on me when I come to collect back the guarantee that was put forward, that is all.
“We are paying the loans. In the same National Assembly sitting, they were told that of the $500 million loan, we have paid $96 million dollars already, Nigeria is already paying.
“And the $500 million was not taken by us, it was taken by President Goodluck Jonathan in his term and that clause was there.
“Nigeria has the capacity to payback for the period of 20 years at 2.8 per cent, which country will give you that loan? Secondly, these loans are not given to us, they are paid directly to the contractors.
“Once they sign that the job has been done, they pay the contractors and that has never happened before and these projects are in place. Are they trying to rubbish the fact that there is a railway from Abuja-Kaduna?
“There is no loan in Nigeria, either internal or external, that is not approved by the National Assembly, none.
“Chinese government will not even give you a loan without approval by the National Assembly because if they give you a loan without the approval from NASS that is no loan,” Mr Amaechi explained.
The minister further said the government needed the loans to boost infrastructure in the country.
According to him, the sovereign guarantee and sovereign immunity clause raised by the NASS is a term used to ensure that loans collected are paid back.
The minister said in the case of a default, only the assets constructed with such a loan would be taken back.
He said: “What you do is you give a sovereign guarantee and that guarantee is the immunity clause they are talking about.
“When we say, I give you a sovereign guarantee and we get immunity clause, the immunity clause is that, if tomorrow I am not able to pay and you come to collect the items we have agreed upon, that these are the items that am putting down as guarantee, I can waive my immunity and say no you can’t touch it am sovereign country.
“So, they are saying, if you are not able to pay, don’t stop us from taking back those items that will make us recover our funds. So, is China our father that will give us money for free?
“It is a standard clause in every agreement whether is America we signed it with, whether is Britain, any country would want to know that they can recover their money.
“Anybody that is saying he doesn’t know what a sovereign guarantee or immunity is, too bad for the person, because it simply means in trade that I am not giving you this loan free of charge.
“Just like you go to the bank to collect a loan, the moment you don’t pay they go after your assets you put down, that is all about the clause, the Chinese can never come and take over Aso rock and become President or Minister.
” And if the assets you put down become depreciated then you negotiate which assets they can go after. Chinese will never take over what was not constructed with the loan.”
Mr Amaechi noted that it would be unconstitutional to take a loan not approved by the NASS, but for confidentiality in government, he would have published the clauses generating the dust.
The minister while asking the reason for the investigation by the NASS added that they were aware of all the loans.
He said, “The Chinese is just asking us to show them the evidence that we will payback, which is the immunity clause. If we don’t pay, they can take back their assets.”
On the Zambia experience, where the country could not meet up with its loan agreement, the minister said that the Chinese government will never take over infrastructure that was not constructed from the money taken.
He also acknowledged that the finance ministry in a payment plan had started paying back some of the loans collected.
He said the payment plan was the responsibility of the ministry of finance, and the Ministry of transportation was supposed to implement the contract.
“They are meeting the requirements, at any point in time that we need to pay, we’ll pay $1.6 billion was taken to fix Lagos to Ibadan, we are asking for $5.3 billion to fix from Ibadan to Kano.
“$3.2 billion to fix Port Harcourt to Maiduguri, then Lagos to Calabar which is about $11.1 billion, if those things were done when we had money, the infrastructure will be here today? The answer is no,” Mr Amaechi added.
The minister, however, called on the National Assembly and Nigerians to appreciate government effort in providing infrastructure in the country.
Mr Amaechi noted that the Itakpe/Warri rail project in the South-South, which was abandoned for 34 years by successive governments was fully rehabilitated by the present administration without seeking for loan.
General
Makinde Reassures Safe Return of Abducted Oriire Pupils, Teachers
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has reassured residents that his administration remains committed to securing the safe release of the pupils and teachers abducted from schools in Oriire Local Government Area about a month ago.
In a message contained in his monthly newsletter, the governor acknowledged the pain and anxiety experienced by families and communities since the victims were abducted from schools in the Yawota and Ahoro-Esinle communities almost 30 days ago.
He described the incident as a difficult period for the state, noting that many families have continued to endure uncertainty over the fate of their loved ones.
According to the governor, although repeated assurances may have left some residents doubtful, efforts to rescue the victims have not relented, stressing that security agencies are pursuing every credible lead and deploying all lawful means necessary to secure the release of the abducted pupils and teachers.
Mr Makinde explained that intelligence reports indicate the victims are still within the wider Old Oyo National Park axis, a vast terrain stretching across about 10 local government areas and covering approximately 2,500 square kilometres.
He noted that the difficult terrain poses operational challenges for security agencies, requiring patience, coordination and sustained efforts to ensure a successful rescue mission.
The governor urged residents to remain vigilant and report suspicious activities through the state’s toll-free emergency line, 615, while also cautioning against the spread of unverified information that could undermine ongoing security operations.
Mr Makinde assured families that their loved ones have not been forgotten, stressing that the safe return of the victims remains a top priority for both the state government and security agencies.
“We are doing everything within our power to bring them home safely,” the governor said, while calling on residents to continue praying for the safe return of the abducted pupils and teachers,” he promised.
General
UK, Nigeria Launch £15m Growth Programme to Boost Investment
By Adedapo Adesanya
The United Kingdom and Nigeria have launched a £15 million growth programme aimed at unlocking investment and accelerating economic transformation as both nations deepen their partnership.
This was announced as the UK Minister for Africa and International Development, Ms Jenny Chapman, concluded a two-day visit to Nigeria, during which she announced the new £15 million Growth Programme, deepened cooperation on digital transformation and health, and visited communities benefiting directly from UK investment on the ground.
The visit, spanning Abuja and Kaduna, underscored the breadth and depth of the UK–Nigeria Strategic Partnership and marked a significant step towards both countries’ shared priorities.
According to a statement, the centrepiece was the meeting with Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele. During their meeting, they discussed the new UK–Nigeria Growth Programme.
Over three years, it will accelerate economic transformation, unlock private investment and support Nigeria’s transition from macroeconomic stabilisation to sustained, reform-led growth. Alongside the Growth Programme, the UK announced deeper collaboration on Nigeria’s digital economy through the SPRIRET initiative, delivered under the UK’s Digital Access Programme. SPRIRET will support digital governance reforms across five Nigerian states, reducing regulatory barriers and enabling greater investment and innovation in broadband, digital services and emerging technology.
Speaking on the partnership, Mr Oyedele said, “We continue to value the UK–Nigeria relationship, one of the most important partnerships for both our countries. Today, that relationship extends beyond traditional ties and now focuses on development, growth, and shared prosperity.
“The UK–Nigeria Growth Programme helps bring this partnership to life—supporting capital market development, technology investment, small businesses, and technical assistance. We look forward to seeing how these opportunities deliver lasting benefits and drive progress for both countries.”
During the visit, Ms Chapman met with the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole and discussions covered progress under the Enhanced Trade and Investment Partnership (ETIP), including boosting exports via the Developing Countries Trading Scheme, fintech and capital markets links.
In Kaduna, she met with Governor Uba Sani to take stock of over 20 years of UK–Kaduna partnership and explore how cooperation can deepen shared priorities.
She also heard from the business community and key institutional investors about their investment aspirations and the role of the UK in supporting investment mobilisation and enabling climate finance, and met with community animal health workers and livestock breeders to discuss the UK’s support on breeding techniques, animal health and livestock vaccines.
The UK minister also visited Unguwan Sanusi Primary Health Care Centre, which serves approximately 20,000 people in Kaduna South, hearing directly from patients and frontline health workers about the impact of UK-supported health programmes.
At the end of the visit, she said, “This visit has reinforced everything I believe about the UK–Nigeria partnership. That it is deep, it is real, and it is moving in the right direction. From launching our new Growth Programme with Honourable Minister Oyedele, to meeting from frontline health workers in Kaduna — every conversation this week has shown me a country full of ambition and a partnership that is genuinely delivering for both sides.
“Nigeria is a partner that the UK is proud to stand alongside and I leave more convinced than ever that the next chapter of this partnership is its most exciting yet. The UK is here for the long term, and we are ready to grow together.”
General
Democracy Day: Tinubu Boasts Restoring Investor Confidence
By Adedapo Adesanya
President Bola Tinubu has noted that his reforms have restored investor confidence in the Nigerian economy, marked by growing investments in sectors as diverse as agriculture, energy, manufacturing, technology, mining, transportation and the creative industries.
In a nationwide Democracy Day broadcast on Friday, he said the reforms pursued by the current administration since its inauguration have restored stability and credibility to economic management.
“Federation revenues have risen, providing states and local governments with more resources for infrastructure, education, healthcare, and security,” the president said in his address.
“Fiscal transparency has improved, leakage has been reduced, and public funds are better directed to national priorities,” he added.
The president said upon his assumption of office in May 2023, he implemented an array of reforms aimed at speeding up economic growth and attracting international investors. These include the abolishing of petrol subsidies and unifying the foreign exchange market by collapsing multiple, segmented exchange rate windows.
On security, he threatened bandits, kidnappers and sponsors of terrorism, declaring that those who continue to destabilise Nigeria’s peace and security will face the full force of the law.
“To bandits, kidnappers, and sponsors of terror: Surrender or face the full force of the Nigerian State,” President Tinubu declared.
“These windows of surrender will not remain open forever. No mercy will be shown to those who trade in the blood of Nigerians,” he added.
His comments come amid recurring debates over the identity of criminal groups and concerns that insecurity could deepen ethnic divisions in the country.
President Tinubu urged Nigerians to unite against a common enemy.
“We must stand united and be assured that the enemies of our nation shall soon be history,” he declared.
The President expressed confidence that Nigeria would ultimately overcome its security challenges and emerge stronger.
“We will triumph over terror and continue to build a more prosperous nation,” he said.
He urged Nigerians to reject pessimism and embrace a shared vision of progress.
“Let us move forward together—rejecting division, cynicism, and despair; embracing unity, hope, and confidence,” Tinubu said.
“Let us build a Nigeria united by a common purpose, strengthened by diversity, where justice is accessible, liberty is secure, and opportunity is abundant.”
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