Wetin be di benefits, implications of di $50 billion funding wey China wan give Africa?

President Xi Jinping don promise say im go step up di support wey China dey give kontris for Africa wey dey owe dem wit funding of nearly $50 billion ova three years.

China leader wey make dis promise on Thursday, 5 September add say im go back di funding wit more infrastructural projects, and create at least 1 million jobs for di continent.

President Xi tell delegates from more dan 50 African nations wey gada for Beijing for di three-yearly forum on China-Africa Cooperation Summit say China ready to increase dia cooperation wit Africa in industry, agriculture, infrastructure, trade and investment.

More dan half of di money go be loan, Xi tok, while di rest go come from unspecified “various types of assistance” and $10 billion na through encouraging Chinese firms to invest.

Di Chinese leaders no give details on how dem go release di funds.

If di President of China and African leaders agree, di money go help di Africa continent to develop di economy of some kontris.

Meanwhile, dis no be di first time wey African kontris go collect loans from China.

Beijing for years don dish out billions in loans for trains, roads and bridges for Africa wey don make di goments of those kontri gada debts dem often dey struggle to pay back.

President Xi Jinping wit some African leaders for di summit for China

BBC Pidgin follow one expert tok to find out wetin make dis loan different and special from di ones wey China dey give dem bifor, and how e fit bring changes to di economy of di African continent.

Professor Kabiru Isa Dandago wey dey teach Accounting and Taxation for Bayero University, Kano, northern Nigeria highlight some benefits and implications for African kontris wey dey collect loan from China. E tok say Chinese loans dey come in different ways. Dem get one policy, dem dey call am financial work.

“Most of dia loans, dem go propose one particular work wey dem go do for a state or kontri, and den, dem go put about 85% of di cost of doing di work as loan. And you, wey be di originator, you go put in 15%.” e tok.

Usually, China dey always get one clause for di loan agreement, say in case you no fit pay dem back, for dem to recover dia 85% and di small interest wey dem put, dem go take over dat work or take over one of di national assets for di kontri.

So, na loan arrangement wey go make di Chinese goment get some kain control over di national assets of African kontris.

Prof. Dandago on dis loan proposal from di Chinese goment say, “I for prefer make dem tok about some charity work dem fit do, financial assistance dem fit render, like build di capacity of Nigerians or Africans, instead of just dash dem $51 billion as loan to dis kontris.”

If dat one happun, e go be anoda way to get some imperial power ova di kontris wey take di loan.

How dis loan take different to odas wey some African Kontris don take bifor?

Prof. Kabiru Isa Dandago still highlight di difference between dis loan and oda loans wey African kontris don collect and propose.

“Di major difference be say all di oda loans, na di goment of different African kontris request for dem for national level or sub-national level from Chinese banks, wia dem go say we need dis loan to develop our port, or we need am to develop our airport, construct roads or bridges” e tok.

But dis one na di Chinese president dey offer or propose am. So, e dey come directly from di Chinese. So, we never know di conditions wey dem go put for am yet.

Wetin be di benefits of di loan for Africa?

President Xi Jinping and some African Leaders for di summit for China

Prof. Dandago tok say wit good govnance, loans fit dey very productive. “Loans fit good if di leaders use am to develop infrastructure, build the capacity of pipo, build human beings, and den, of course, make sure we get enough food supply for di African continent.”

E add say if di leaders agree to offer good govnance, den we fit get hope say di loan go dey use productively so dat di project wey dem go execute wit di loan go fit pay back di loan plus whatever interest dem add, and den we go gain plenty from am.

“So, na so I feel di loan fit useful,” im tok.

Wetin be di implication?

Di implication don start sake of say dem don dey collect some of di national assets of some kontris.

“Look at Uganda, now na dem get dia ports. Dem dey get control over airports of some kontris now. Even for Nigeria, I hear say very soon dem go take ova Abuja airport as dia own,” Prof. Dandago tok.

“Di Nigerian goment put in just 15%, and dat 15% self neva even dey completely paid. So, dis loan wey China dey give African kontris na anoda way to get control ova dem. No be colonialism?,” e ask.

You fit just take am as anoda strategy of imperialism. To get control ova di assets of di kontri go make dem make almost evribody for di kontri dia slave.

E tok say some hidden agenda fit dey. “So, our goment for Africa, dem need to dey veri careful about di loan wey the Chinese president don offer dem.”

Dem no suppose make our continent dey depend on loans, e add.

“We get plenty resources for our kontri. I think say we fit even tok say we get more natural resources dan China.” e tok.

Prof. Isa Kabiru Dandago conclude say as pesin wey don serve as Commissioner of Finance for Kano state, im don go China twice for negotiation of loan. And times dey wen im personally reject some of dia proposals for dat particular loan wey dem go dia for. And e convince im govnor and di oda team members to propose some oda terms and conditions for di loan sake of di danger wey im see for di conditions wey dem put across.