SUNDAY 19TH DECEMBER 2021

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DMO: Nigeria Didn’t Mortgage National Assets as Collateral for Chinese Loans Festus Akanbi The Debt Management Office (DMO) has clarified that loans from China to Nigeria, which presently stood at $3.59billion were largely concessional as no national asset was tagged as collateral.

The Director-General of DMO, Ms Patience Oniha, who made this known in an interview yesterday, also disclosed that the loan constitutes only 9.4 per cent of the country’s total foreign debt stock of $37.9 billion. In recent times, both the social and mainstream media

have been awash with news about some African countries, including Nigeria, facing the threat of losing some critical national assets to the Asian country due to high-level indebtedness. “Nigeria’s total debt stock as at September 30 was $37.9

billion; this figure comprised the external debt stock of the federal government, 36 state governments and the Federal Capital Territory (FCT). “But total loans from China stands at $3.59 billion, which is 9.47 per cent of the total external debt. The loans did

not require any national asset as collateral; they were largely concessional,’’ she said. Oniha urged Nigerians to always endeavour to verify sensitive information from official sources before disseminating it. She explained that before

foreign loans were contracted, very sensitive steps were taken by multiple institutions of government to ensure that they were beneficial to the nation. “Before any foreign loan is contracted, including the Continued on page 6

NERC: Poor Performance of 17 Power Plants Threatens Energy Stability... Page 6 Sunday 19 December, 2021 Vol 26. No 9750

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Buhari Rallies International Support against Terrorism Deji Elumoye in Abuja and George Okoh in Makurdi

60 HEARTY CHEERS TO AKIN OSUNTOKUN... L-R: Guest Lecturer, Dr. Reuben Abati; former President Olusegun Obasanjo; Chairman of occasion/Ekiti State Governor, Dr. Kayode Fayemi; the celebrant, Mr. Akin Osuntokun and former Minister of Health, Prince Julius Adelusi-Adeluyi; and Prof. Jide Osuntokun, during the public lecture to commemorate Akin Osuntokun’s 60th birthday in Lagos…recently

President Muhammadu Buhari has called on the Turkey-Africa Partnership Summit to provide concrete support to help defeat Continued on page 5

Anxiety Mounts as Deadline for Buhari to Sign Electoral Bill Expires Today SANs ask National Assembly to override Buhari Chuks Okocha, Alex Enumah in Abuja, and Gboyega Akinsanmi in Lagos Anxiety has gripped Nigerians over the conduct of future elections as the constitutional time limit for President Muhammadu Buhari to sign the Electoral Act (Amendment) Bill 2021 ends today, THISDAY investigation has revealed. THISDAY gathered that the inclusion of direct primaries is one of the major hurdles that may militate against Buhari’s assent. While there are indications that Buhari, who is still in Turkey, may sign the bill and send an amendment to the National Assembly, some senior lawyers have asked the federal lawmakers to override the president. Section 58(4) of the 1999 Continued on page 72

A NEW TALBAN FOR DAURA… L-R: Emir of Daura, Dr. Umar Farouk Umar; Senate President, Dr. Ahmad Lawan; Vice President Yemi Osinbajo; President Muhammadu Buhari’s son and new Talban Daura, Alhaji Yusuf Buhari; and Kano State Governor, Dr. Abdullahi Ganduje, at the turbaning ceremony of Yusuf in Katsina…yesterday


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