BY CHIKA OKEKE, Abuja
The Federal Government has sealed a US$30 million grant deal with China to support development projects and strengthen bilateral relations between the two countries.
Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, who stated this at the signing of the agreement in Abuja, said that it formed part of broader engagements under the Nigeria-China comprehensive strategic partnership.
He appreciated the Chinese government for its continued support to Nigeria, describing the agreement as evidence of strong bilateral relations and shared development objectives.
Acknowledging an earlier US$1million Chinese grant targeted at strengthening Nigeria’s capacity in technology and knowledge development, he pointed out that the Federal Ministry of Budget and Economic Planning and the Nigeria-China strategic partnership office were identifying development projects proposed by states.
Bagudu noted that the government must ensure the commitments translated into tangible benefits for Nigerians, highlighting efforts to tackle poverty at the grassroots.
He pointed out that 8,809 interventions were recorded under the lowest level of the economic support programme, noting that Nigeria could learn from China’s poverty eradication strategy to accelerate development nationwide.
The minister hinted that Nigerian officials were participating in training programmes in China to strengthen their knowledge and capacity for development planning.
Chinese Ambassador to Nigeria, Mr Yu Dunhai confirmed that China had approved a 200-million-yuan grant, equivalent to a US$30 million for Nigeria’s economic and social development.
He stated that the funds would support mutually agreed projects designed to deliver direct benefits to Nigerians, noting that the projects require limited investment that deliver quick results and improve citizens’ livelihoods.
The ambassador was confident that the Nigerian government would use the funds effectively to achieve the intended development outcomes.
Dunhai informed that the agreement represented an important step toward implementing commitments made by both countries’ leaders and outcomes of the fourth China-Nigeria Cooperation Forum in Beijing.
He said that Nigeria and China were marking 55 years of diplomatic relations, characterised by mutual respect, cooperation and support across various sectors.
The bilateral relations were elevated to a comprehensive strategic partnership in 2024 following engagements between Chinese President Xi Jinping and Nigeria’s president.
Dunhai noted that the partnership had since entered a new phase of high-level and high-quality development, highlighting China’s zero-tariff policy for Nigeria, which took effect on May 1, 2026.
He likened the policy as an opportunity to expand Nigeria's exports and attract investment, informing that the bilateral trade reached US$18 billion in the first half of 2026, while Nigeria’s exports to China increased by 80 per cent.
The ambassador attributed the export growth to the zero-tariff policy, stating that it would improve Nigeria’s access to the Chinese market and support industrial development.
He enjoined both countries to negotiate an economic development partnership agreement before the preferential policy expires on May 1, 2028, seeking relevant Nigerian ministries to coordinate efforts towards concluding the agreement and maximising the policy’s benefits.
Dunhai pledged China’s commitment to implementing agreements reached by both countries’ leaders and strengthening bilateral relations, assuring that both countries would continue to pursue shared development goals and building a community with a shared future.
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