Be wary of ‘China loans’, it can sink Nigeria into debt recolonisation, Sen Sani warns

Senator Shehu Sani, who represented Kaduna Central at the 8th Senate, has called on the Nigerian Government to be wary of borrowing from China.

He warned that borrowing indiscriminately from China could make Nigeria “sink into the deep pit of debt recolonisation.”

He stated this, when he spoke, at a seminar in Abuja on Tuesday.

At the seminar themed “China’s 70 years of rebuilding,” Sani said:

“We must be very careful about borrowing money indiscriminately. Inasmuch as China is the preferred nation to borrow us money, we should know that when you borrow, it is not a gift.

“Even, if the interest is one dollar or no interest, it is still a loan that has to be paid back. So, we must be very careful not to sink into the deep pit of debt recolonisation.”

Sani, meanwhile, said what was most important for Nigerians to appreciate “is that we share a history with China and they understand our peculiarities and also respect us for our differences and they are not seeking to impose themselves on us, but we should also be able to protect and defend our independence and integrity and continue to relate with China on the basis that we are an independent country.”

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The director, Centre for China Studies, Mr Charles Onunaiju, in his speech at the event said Nigeria had a lot to learn from China and could like the Asian country, lift millions of Nigerians out of poverty.

“China stands as a genuine friend of Africa and a friend of the world. Someone asked, ‘Why is China reaching out to the rest of the world?’ but China’s prosperity can only be guaranteed if the rest of the world is prosperous,” he added.

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