{"id":11324,"date":"2020-08-20T12:36:24","date_gmt":"2020-08-20T12:36:24","guid":{"rendered":"https:\/\/www.funminews.com\/?p=11324"},"modified":"2020-08-20T12:36:24","modified_gmt":"2020-08-20T12:36:24","slug":"nass-will-ensure-nigeria-does-not-enter-chinese-debt-trap-senator-arise","status":"publish","type":"post","link":"http:\/\/www.funminews.com\/index.php\/2020\/08\/20\/nass-will-ensure-nigeria-does-not-enter-chinese-debt-trap-senator-arise\/","title":{"rendered":"NASS Will Ensure Nigeria Does Not Enter \u2018Chinese Debt Trap\u2019 \u2013 Senator Arise"},"content":{"rendered":"\n<p><strong>Senator Ayo Arise has said the National Assembly will ensure Nigeria gets favourable terms when negotiating for loans, stressing that the lawmakers have a responsibility to make sure the country does not enter into the \u201cChinese debt trap.\u201d<\/strong><\/p>\n\n\n\n<p>Arise while admitting that the country needs funding to develop its infrastructure, said there is a need for Nigeria to thoroughly look into the terms of loans from China.<\/p>\n\n\n\n<p>\u201cOn one side, we need money to develop our infrastructure, and on the other side, the National Assembly has the responsibility to ensure that we do not enter into negotiations that will actually put this country into the so-called Chinese debt trap,\u201d he said. \u201cSo, it is a good thing that this is coming into the open.\u201d<\/p>\n\n\n\n<p>Arise who was the Chairman, Committee on Privatization in the 6th Senate admitted that though the terms of the agreements on the loans may not be rewritten, the National Assembly will ensure the future of the country is not jeopardized.<\/p>\n\n\n\n<p>\u201cEven if nothing is directly achieved in terms of rewriting whatever agreement we had in the past,\u201d he said, \u201cthe National Assembly will use this opportunity to ensure that terms are defined for international loans and ensure that there is no agreement that would actually jeopardise the future of this country and our sovereignty in terms of our assets.\u201d<\/p>\n\n\n\n<p>While citing Kenya, Djibouti, Malaysia and Sri Lanka as countries grappling with the repayment of foreign loans, Arise called on the Nigerian government to plan how to effectively repay the loans.<\/p>\n\n\n\n<p>\u201cThere are so many examples all around the world particularly in the African continent and Asia that leaves a lot of concern to people of those countries,\u201d Senator Arise said.<\/p>\n\n\n\n<p>He added, \u201cIf proper planning is not put into it, 30, 20 years might seem like a long time, but it will soon be here.\u201d<\/p>\n\n\n\n<p>Source: Channels TV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senator Ayo Arise has said the National Assembly will ensure Nigeria gets favourable terms when negotiating for loans, stressing that the lawmakers have a responsibility to make sure the country does not enter into the \u201cChinese debt trap.\u201d Arise while admitting that the country needs funding to develop its infrastructure, said there is a need [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,4,3],"tags":[],"class_list":["post-11324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-naija-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.funminews.com\/wp-content\/uploads\/2020\/08\/Sen-Arise-on-Chinese-debt.jpg?fit=615%2C332","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/11324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/comments?post=11324"}],"version-history":[{"count":0,"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/11324\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media\/11325"}],"wp:attachment":[{"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media?parent=11324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/categories?post=11324"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/tags?post=11324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}