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$500m Chinese loan: Aviation union ask FG to pay back

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The Association of Nigeria Aviation Professionals (ANAP) has hold the Federal Government responsible for the repayment of the $500 million Chinese loans obtained from the Exim Bank of China for the construction of new terminals in some parts of the country.

In a document signed by Abdulrasaq Saidu, the Secretary-General, ANAP, addressed to Hadi Sirika, the Minister of Aviation and copied Permanent Secretary, Minister of Aviation, CEOs of FAAN and other agencies in the sector and made available to aviation journalists over the weekend at the Murtala Muhammed Airport (MMA), Lagos, the Union lamented that various clients of FAAN blatantly refused to honour their agreements; land, shop rentages, concessions, Build Operate and Transfer (BOT) and billboard adverts with the agency.

The Union said the massive indebtedness to the Federal Airports Authority of Nigeria (FAAN) by its various clients are preventing the agency from discharging its duties as entrenched in the Act setting it up.

The union argued that instead of the FG to borrow loan on behalf of FAAN, they should have make use of several untapped FAAN revenue points.
ANAP said that since the $500 million Chinese loan was obtained by Stella Oduah, the former minister in the sector on behalf of the Federal Government, the government should bear the financial burden and not FAAN.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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