Debt: China, not planning takeover of Nigeria’s assets – Envoy

The Ambassador of the People’s Republic of China to Nigeria, Mr Cui Jianchun, has disclosed that his country has no plans to take over Nigeria’s critical assets as repayment for loans in the event of default.

Jianchun disclosed this on Thursday during the visit of the Chinese Special Representative on African Affairs, Liu Yuxi to Nigeria’s Minister of State for Foreign Affairs, Zubairu Dada in Abuja. The visit was geared towards strengthening the bilateral relations between both countries.

He said that China and Nigeria are working on the basis of mutual trust and that his country has no intention whatsoever to take over Nigeria’s assets in a situation where Nigeria failed in the repayment of the loan it took from China to build critical infrastructure. According to him, seizure of assets is not part of the agreement reached between the two countries as being insinuated in some quarters.

Yuxi while expressing the Chinese government’s full commitment to improved bilateral relationships with Nigeria appreciated Nigeria for upholding the One China Policy. He said China, just like Nigeria, will continue to support the policy of non-interference at the international level.

The Special Envoy stressed the need for China and Nigeria to strengthen their collaboration, especially in the area of Climate Change, just as he pledged his country’s zeal to continue to support Nigeria in the fight against terrorism through military cooperation.




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