On Friday, activist Madubuachi Idam called on the National Assembly to enact legislation that would regulate the international debts of Nigerian states.
Idam highlighted that the recent seizure of Nigeria’s presidential jets in France by a Chinese company should serve as a wake-up call for the National Assembly to take appropriate action.
He emphasized that such legislation should not only oversee the international debts incurred by state governments in Nigeria but also include provisions for security arrangements that would allow the federal government to settle these debts under certain circumstances.
In an interview with DAILY POST, Idam suggested that state debts could be tied to their monthly allocations from the federal government.
DAILY POST reported that an independent arbitral tribunal, led by a former President of the UK Supreme Court, had ordered the seizure of some Nigerian presidential jets. This action was initiated by the Chinese company Zhongshan Fucheng Industrial Investment Co. Limited, which sought to seize the jets undergoing routine maintenance in France due to the Ogun State government’s failure to pay a $74.5 million award.
However, the Presidency responded on Thursday, stating that it was aware of the situation and dismissed the seizure attempt as a failed effort by Zhongshan to acquire offshore assets of the Nigerian government through deceptive means.
Idam added, “Anyone who wishes well for Nigeria should offer prayers for the country. These are challenging times for the giant of Africa.”
He further noted, “Reports indicate that a French court has ruled in favor of the Chinese company Zhongshan Fucheng Industrial Investment Co. Limited, authorizing the seizure of three presidential jets belonging to the Nigerian government.”
