Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, has explained that the clause ‘waiving sovereignty’ in the loan agreement between Nigeria and China was only a contract term, a sovereign guarantee that assures payback according to the terms and conditions of any loan.
Amaechi made the clarification while answering questions about the loan controversy on a TV programme, yesterday.
He also explained that the Ministry of Transportation was not responsible for taking loans, but to implement the project or contract for which the loans were taken.