The House of Representatives has stated that it is not investing only external borrowings by Nigeria from China, noting that Nigeria now has over 500 contractual and bilateral agreements with various countries.

The House Committee on Committee on Treaties, Protocols, and Agreements made this known in Abuja on Monday as its investigating hearing on foreign loans continues.

Chairman of the committee, Nichola Ossai, noted that the lawmakers were not against the loans or the projects for which they were taken, but would discourage agreements that could have serious implications especially on the sovereignty of the nation.

According to him, some clauses in the agreements are bogus and innocuous.

Ossai also stated that the probe is not about the All Progressives Congress or Peoples Democratic Party-led governments or the current regime led by the President, Major General Muhammadu Buhari (retd.).

Several ministers and heads of Federal Government agencies are currently appearings before the committee.

Details later…

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