economy

Galaxy Backbone: Alleged China Loan Clauses Eroding Nigeria’s Sovereignty is Fake News

Galaxy Backbone, the technology implementing agency of the National Information and Communications Technology Infrastructure Backbone, NICTIB, said it will be out of place to insinuate that the National Assembly will raise allegations of threat to national sovereignty as they are aware that the NICTIB Phase II project is part of the National Borrowing Plan, and has expressed shock at the fake news going round that some loans taken by the Federal Government, and specifically the loans taken for the NICTIB Phase II Project could threaten the sovereignty of the Federal Republic of Nigeria. The company released a press statement explaining that not even for a moment in the over 30 minutes spent with the House of Representatives Committee on Treaties, Protocols and Agreements, did an issue of threat to national sovereignty even come up or was raised. They wonder how a group of media outlets will concoct such fake news and even peddle it with misleading information.

The company disclosed that NICTIB Phase II project is a sovereign loan of National scope and for National Infrastructural development in the area of ICT National Broadband between the Federal Republic of Nigeria (Federal Ministry of Finance, Budget and National Planning) and China Exim Bank (China’s national Export Import Bank, an equivalence of our NEXIM), representing the Republic of China.

Galaxy Backbone said that she is only an implementing agency under the supervision of Federal Ministry of Communications and Digital Economy to oversee the full implementationof this project.

The press release reads as thus:

“GALAXY BACKBONE IS THE TECHNOLOGY IMPLEMENTING AGENCY OF THE NICTIB PHASE II LOAN TO NIGERIA

“Our attention has been drawn to recent reports carried by some media organisations on the alleged discovery by the Federal House Of Representatives (HoR) Committee on Treaties, Protocols & Agreements on some identified clauses in the ‘$400m’ loan for the National Information and Communications Technology Infrastructure Backbone (NICTIB) Phase II project which, according to the report, could threaten the sovereignty of our country Nigeria.

“The said report is not only mis-leading to the reading public but was never a true reflection of the deliberations in the session that Galaxy Backbone had with the Committee on Treaties, Protocol and Agreements.

“Galaxy Backbone (GBB) would like to categorically state that NICTIB Phase II project is a sovereign loan of National scope and for National Infrastructural development in the area of ICT National Broadband between the Federal Republic of Nigeria(Federal Ministry of Finance, Budget and National Planning) and China Exim Bank, representing the Republic of China. Galaxy Backbone is only an implementing agency under the supervision of Federal Ministry of Communications and Digital Economy to oversee the full implementationof this project.

“It is important to note that NICTIB Phase II project is one of the projects in the National Borrowing Plan recently approved by the National Assembly and is yet to commence. It is therefore unlikely and out of place to have insinuation that the National Assembly will raise such allegations.

“Nigeria’s Federal House Of Representatives has through its Committee on Treaties, Protocols and Agreements, which is currently reviewing the nation’s loan agreements with nations across the world, on the 28th of July, invited the Federal Ministry of Communications & Digital Economy (Supervisors of Galaxy Backbone, the implementing agency) to discuss the loan agreements in respect of NICTIB phase II and its project implementation. In the about 30 minutes engagement between Galaxy Backbone and the House Committee members, the issue of clauses in loan agreement and their potential implications for the Nigerian sovereignty never came up for discussion. The Committee requested for and received updates on the loan bothering on amount involved, maturity date and counterpart funding.

“The attributable loan agreement on NICTIB Phase II, like any other sovereign loan is packaged by relevant and capable legal authorities/institutions of Nigeria which, definitely is not Galaxy Backbone.

“Galaxy Backbone as the technology implementing agency of NICTIB Phase II loan and Nigeria ICT Broadband facilitator for National development, is committed to the full implementation of the NICTIB phase II project which at its completion, will deepen the Broadband penetration in Nigeria and improve the Internet and Network Communications experience of not just agencies of government, but of the entire nation.””””

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