The Minister of Transportation, Mr Rotimi Amaechi has warned that Nigeria might lose the trust of foreign creditors if lawmakers continue to investigate loans taken by the Federal Government.
Amaechi who spoke at an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols and Agreements in Abuja, said that the investigation could cause foreign partners to withdraw such loan facilities.
He believes such a development could have negative effect on Nigeria’s infrastructural development.
According to him, he has raised the concerns over the ongoing investigation with the Speaker of the house, Rep. Femi Gbajabiamila.
The minister fears that the hearing could stop the loan facility the Federal Government “is seeking for the completion of the Lagos-Ibadan and Kano rail projects”.
For him, it will be wise to shift the hearing till December when the loan facility would have been acquired.
But the Chairman of the committee, Rep. Nicholas Ossai (PDP-Delta) appeared not swayed by the minister’s concerns.
He said that the committee is empowered to conduct oversight before, during or after loan facilities are acquired.
According to Ossai, the committee seeks to review all Nigeria’s bilateral loan agreement to ensure the country is not short-changed.