“A full-blown media and Twitter panic erupted on Wednesday in Nigeria over reports that the House of Representatives Committee on Treaties, Protocols, and Agreements in Abuja chaired by Nicholas Ossai discovered a clause in a Chinese loan contract that supposedly puts the country’s sovereignty at risk in the event of default.
“The clause described as “lethal” by the panel is in article 8(1) of the commercial loan agreement between Nigeria and Export-Import Bank of China, and reads thus: “The borrower (Nigeria) hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets”.
In view of the above quote together with the growing concerns on the debt profile of Nigeria resulting into a new form of colonialism foisted by China, being arranged by the APC led Federal Executive Council of Nigeria, the prominent Civil Rights Advocacy Group; Human Rights Writers Association of Nigeria (HURIWA) has urged Nigerians to protest the China’s enslavement loans by President Buahri.
HURIWA, in a statement sighted by The World Satellite Magazine Website demanded that the Nigerian Government should within the next 72 hours pull away from what it described as toxic and enslaving loan agreement with China, which threatens the sovereignty of Nigeria as a Nation.
The statement signed by the National Coordinator; Comrade Emmanuel Onwubiko and National Media Affairs Director; Miss Zainab Yusuf stressed that failure to comply, HURIWA in its capacity as a prominent Civil Rights Advocacy Group and in a bid to advance the single agenda of building a formidable and economically strong united Nigeria in general and the future of our youths in particular, we will mobilize Civil Rights Advocacy groups in Nigeria to challenge the new form of economic colonialism, while blaming President Muhammadu Buhari for “attempting to foist a situation whereby most Nigerians will not be able opt out of the Future and slave labour camp of China, which is what the loans agreement is all about”.
Describing the China Loans as Greek gifts, HURIWA observed that the Chinese loans, which are disbursed by the EXIM Bank, with interest subsidised by the country’s Ministry of Commerce, assigns Chinese contractors to execute projects tied to the loans.
“This chain barely allows cash to get into the hands of the recipients; rather, the loans are offered in the form of projects. Most of the funds given out actually go back to them by way of supplies, construction contracts with all the equipment brought over from China itself”, the rights group observed.
While noting that the Country’s increasing debt profile is a way the Political leaders are robbing the children and youths to pay for their greed, the Rights Group revealed that it shall write to the United Nations and China to dissociate the entire youths from such a thievery being arranged by the Federal Government of President Muhammadu Buhari just as it added that its shall as well consider protests to the Embassy of China in Abuja if the enslaving loan agreement is not discontinued.
Conclusively, HURIWA called on the United Nations to conduct plebiscite on the loan request just as it warned that if the loans are received and the clause on forfeiture of sovereignty is not legally voided, then it will motivate millions of Nigerians to begin Self Determination agitation or the dissolution of Nigeria.