2020 budget: Why China may takeover Nigeria’s assets

Reno Omokri, a former aide to ex-President Goodluck Jonathan, has warned that China may take over Nigeria’s assets.

He said this will happen when the country fails to pay up the loans being acquired from the Asian country by President Muhammadu Buhari government.

According to the former presidential aide, countries such as Sri Lanka, Maldives, Djibouti Kyrgyzstan and Laos have all suffered such treatment from China.

In a tweet on Wednesday, Omokri warned: “The problem with the Chinese loans General @MBuhari is acquiring is that when you cant pay, China wont cut you slack.

“Rather they take over your national assets.

“They have done it to Sri Lanka, Maldives, Djibouti Kyrgyzstan & Laos. Buhari has enslaved us!”

“To show how much General @MBuhari has spent your future away, consider that in his budget, DEBT SERVICING takes ₦2.45trn, which is more than capital expenditure of ₦2.14trn.

“Mind you, debt servicing is paying interest on the debt, not repaying the debt.”