NIGERIA Minister of Transportation, Rotimi Amaechi has said investigations of loans taken by the Federal Government could truncate procurement of loan by Federal Government.
Speaking during an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols and Agreements in Abuja, the Minister said the investigation could cause foreign partners to withdraw such loan facilities which have negative effect on Nigeria’s infrastructural development.
He disclosed that he has raised the concerns over the ongoing investigation with the Speaker of the House, Femi Gbajabimila.
Amechi explained that the hearing could stop the loan facility the Federal Government ”is seeking for the completion of the Lagos-Ibadan and Kano rail projects”.
He, however, recommended that the hearing should be shifted to December when the loan facility would have been acquired.
The Chairman of the committee, Nicholas Ossai (PDP-Delta) said that the committee is empowered to conduct know what goes on before, during or after loan facilities are aquired.
