APC mortgaged our sovereignty with Chinese loans – PDP

By Gbade Ogunwale, Abuja

The Peoples Democratic Party (PDP) has said the All Progressives Congress (APC) administration has mortgaged Nigeria’s sovereignty with Chinese loans.

In a statement on Sunday by the spokesman for the PDP, Kola Ologbondiyan, the party said revelation of obnoxious clauses in the agreements entered by the administration with its Chinese lenders in the $500 million loan, has vindicated its position the APC has been secretly mortgaging the sovereignty of the nation to benefit its selfish leaders.

The main opposition party said its investigation had showed that mortgaging of nation’s sovereignty to foreign lenders, including the $500 million loan from China, has been with the active connivance of the APC as a party, even when such is against national interest.

The PDP rejected attempts by the Buhari administration to justify what it described as reprehensible pawning of the nation’s sovereignty to a foreign interest.

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The statement said: “The PDP declares that the APC agenda offends our corporate existence as a nation and grossly violates the fundamentals of our constitution as a self-governing state, which grant no space for any form of takeover of any of our national interests by foreigners, under any condition whatsoever.

“Moreover, such mortgaging of our sovereignty in a loan agreement is in further violation of the oath of office of the President to protect the interest of the sovereignty of our nation.

“This gambling with our sovereignty amounts to an unpardonable treachery against our nation and the future of our generations yet unborn particularly given the level of incompetence, corruption, treasury looting, as well as betrayal of public trust by officials of the APC administration, which President Buhari had also confirmed.

“The PDP is further irked by the arrogance being displayed by some officials of the Buhari administration who, rather than being remorseful, are daring Nigerians and the National Assembly over the matter”.

The party regretted the attitude of government officials, including Minister of Transportation, Rotimi Amaechi.

This, the PDP said, further raised questions regarding the reliability of the administration.

“The PDP holds that the demand for such toxic terms by the Chinese lenders underscores the loss of confidence by the international community in the Buhari administration, whose corruption has made it so untrustworthy that lenders now demand that we cede our sovereignty as condition.

“As a pan Nigerian party, the PDP declares that our sovereignty as a nation remains non-negotiable.

“Nigerians reject such sovereignty-pawning clause and are not ready to mortgage any parts of our country under any guise whatsoever.

“In that regard, the PDP charges the APC administration to retrace its step and halt every action regarding the administration of the loan until all toxic clauses are deleted from the agreement,” the party added.

The PDP called on the National Assembly to review all foreign loan agreements entered into by the APC administration and take further urgent steps to retrieve the nation from the “international auction”.