China loan: Save Nigeria’s Future, FactualTimes Editor Cautions Buhari

Fisayo Olafusi, Akure

Following recent attempt by the Federal government of Nigeria on applying for Chinese loan, The Managing Editor of the popular online newspaper, FactualTimes, Oyewale Oyelola has warned President Muhammadu Buhari led administration to reconsider the repercussions the loan may likely has over the future of the country.

The Veteran Journalist made this call on a discussion program at CrestFM 87.7 Akure tagged “EYI ARA (What Goes Around Nigeria)” where he noted on the likely danger that the Chinese loan could bring to Nigeria’s future.

Oyelola said: “it is good for a country envisaging development to borrow loans. But, it must be on every individual mind that, to borrow loans has to do with laying down of some collaterals that must commensurate with the exactly price of such borrowed loan”.

He stressed that, such loan will make Chinese government to take over Nigeria unnoticed.

“This I said, the Chinese loan if Nigerian government fails to fulfill all agreements regarding the values, it will attracts seizable of the capital works done by such money and this may turns Chinese government to landlord by taking over everything the country used in collateral. Which this will as a matter of fact lures Nigeria into another enslavement by the Chinese”. FactualTimes Editor noted

Oyelola emphasized that the loan if not paid on time being, will cause mass retrenchment to most Nigerians working in the affected sectors.

“In terms of employments the chinese will have authority on all projects that Nigerian government used the money for by employing themselves after retrenchment of Nigerian citizens working there before. Most of which, will debar other countries except China to bargain business with Nigeria.” The Public Affairs Analyst explained

He berated the Nigerian legislative arm of Nigeria over its dereliction of duties on signing all the presidential proposal bills into law without consideration which most of Nigerian activists, decrying them on in recent time.