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HoR kick as FG repay $460m Chinese loan



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House of Representatives Committee on Finance has demanded further explanations on the $460m Abuja CCTV project from the Ministry of Finance.

Mrs. Zainab Ahmed, minister of Finance, however claimed she has no information on the status of the CCTV.

Rep. James Faleke (APC-Lagos), chairman of the committee, however, at a budget defence session with the ministry on Thursday in Abuja, said there was the need for Nigerians to get value for monies paid.

“Before this administration, we collected some loans and the one that strikes me the most is the $460m for CCTV installation in Abuja.

“I want to know the position of this loan. I am sure we are paying back, but the CCTV is not working.

“Any time we take loan from China, the Chinese will come and do the job, they will bring all their equipment, the personnel and the goods and yet we do not have value for the money, especially that of the CCTV.

“Where are we? I need you to look into it and send us a memo on this particular project,” he said.

Responding, the Minister of Finance, said Nigeria was servicing the loan but she had no explanations on the status of the project.

“We are servicing the loan, but on the project, we will have to ask the Federal Capital Territory Authority because the project was deployed in the FCT.

“I have no information on the status of the CCTV.

“The conditions of the loans that we take from China always will be that a Chinese company will provide the infrastructure services.

“These are loans that are of three per cent, the rail lines are being rolled out, the Abuja-Kaduna, Lagos-Ibadan rails are all loans from China and are being executed by Chinese companies,” she said.

Ahmed said the Abuja, Lagos, Port Harcourt and Kano airport rehabilitation projects were done by Chinese companies and were supervised by the relevant ministries and the National Assembly to ensure quality work.


She said there were a lot of Nigerians working with Chinese on the projects.