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Stop The Noise About “Nigeria Mortgaged Sovereignty”: Give Rotimi Amaechi A Chance, Says Buowe

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DELTA– A leader of the All Progressives Congress, APC, in Delta State, and a former state legislator, Hon (Pst) Silas Buowe has come out to throw his support behind the federal Minister of Transportation, His Excellency Chibuike Rotimi Amaechi on the recent turnout of events towards the 3.4 Billion USD loan given out by the chinese government to aid the Nigeria State in revamping her ailing transportation sector.

Hon Silas Buowe reiterated it was a clear form of ignorance on the part of anybody and a wicked political motive by learned individuals who are aware of the sincere mindedness of the Minister of Transportation and the Executive President towards building a functional and formidable transport sector but are making sinister moves to scuttle their efforts.

In a statement released by Hon Silas Buowe, he stated that no country with a population of over 50million can drive her transportation sector with taxi cabs and mass transits buses as Nigeria as struggled to do in the past thirty-five years, 35, until the ingenious moves made by the federal minister of transportation, Rt. Hon. Chibuike Rotimi Amaechi and President Muhammandu Buhari to strengthen and build a formidable railway system.

As a well bred politician and learned silk, Hon Silas Buowe exposited the term ‘Sovereignty Guarantee’ to educate Nigerians on its essence by stating that it is a promise by the Government of a nation to discharge the liability of a third party in case of his default.

From the statement released, Hon Silas Buowe said, “its clear ignorance mixed with wicked political motives for anyone to think that the elected president of a country and his minister of transportation, both men with collective burning desire to leave Nigeria transport section better than they met it, will mortgage Nigeria independence for a loan of 3.4 Billion USD.

“But for the benefit of those who are deficient in knowledge of international money lending protocols to nations, sovereign guarantee is not new. Its actually a principle of international lending inserted into money borrowing contracts involving nations.”

“No country, I repeat No country with a population over 50 million people can drive her transport sector with mass transit buses and taxi cabs as Nigeria has struggled to do in the last 35 years until this deliberate government policy on rail by this Buhari government through the ingenious and purposeful Nigeria Minister of transportation Rt. Hon. Chubike Rotimi Amaechi.”

“Now take this from me; Sovereign Guarantee is a promise by the Government of a nation or a state to discharge the liability of a third party in case of his default.”

“Sovereign Guarantees are issued by governments as contingent liability against the occurrence of an event covered by the guarantee. This is not peculiar to Nigeria.”

“In fact article 292 of the Constitution of India extends the executive power of the Union to the giving of sovereign guarantees on the security of the Consolidated Fund of India, within such limits, if any, as may be fixed by Parliament. Similar powers are also given under the constitution to States under Article 293 of the constitution.”

“So please stop the hullabaloo about Nigeria independence sold or about to be sold by the Buhari government. Its a lie from the bit of hell to further deprive Nigeria of this window of opportunity to transform the transport sector of our country”, Hon Buowe concluded.

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