By Nana Musa
The Federal Government has signed a 30-million-dollar grant settlement with China to assist small-scale growth initiatives throughout Nigeria.
Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, disclosed this on the signing ceremony in Abuja on Thursday.
Bagudu thanked the Chinese authorities for its continued assist, describing the settlement as proof of robust bilateral relations and shared growth goals.
He stated the grant shaped a part of broader engagements below the Nigeria-China complete strategic partnership.
The Chinese Ambassador to Nigeria, Mr Yu Dunhai, introduced that China had permitted a 200-million-yuan grant, equal to 30 million {dollars}, for Nigeria’s financial and social growth.
Dunhai stated the funds would assist mutually agreed initiatives designed to ship direct advantages to Nigerians.
He described the initiatives as “small but beautiful”, explaining that they might require restricted funding, ship fast outcomes and enhance residents’ livelihoods.
The ambassador expressed confidence that the Nigerian authorities would use the funds successfully to attain the meant growth outcomes.
Bagudu additionally acknowledged an earlier one-million-dollar Chinese grant meant to strengthen Nigeria’s capability in know-how and information growth.
He stated the Federal Ministry of Budget and Economic Planning and the Nigeria-China strategic partnership workplace had been figuring out growth initiatives proposed by states.
The minister confused that the federal government should make sure the commitments translated into tangible advantages for Nigerians.
Bagudu highlighted efforts to deal with poverty on the grassroots, saying 8,809 interventions had been recorded below the bottom stage of the financial assist programme.
He added that Nigeria might be taught from China’s poverty eradication technique to speed up growth nationwide.
The minister additionally disclosed that Nigerian officers had been taking part in coaching programmes in China to strengthen their information and capability for growth planning.
Dunhai stated the settlement represented an vital step towards implementing commitments made by each international locations’ leaders and outcomes of the fourth China-Nigeria Cooperation Forum in Beijing.
He famous that Nigeria and China had been marking 55 years of diplomatic relations, characterised by mutual respect, cooperation and assist throughout varied sectors.
According to him, bilateral relations had been elevated to a complete strategic partnership in 2024 following engagements between Chinese President Xi Jinping and Nigeria’s president.
The ambassador stated the partnership had since entered a brand new section of high-level and high-quality growth.
Dunhai additionally highlighted China’s zero-tariff coverage for Nigeria, which took impact on May 1, describing it as a possibility to broaden Nigerian exports and entice funding.
He stated bilateral commerce reached 18 billion {dollars} within the first half of 2026, whereas Nigeria’s exports to China elevated by 80 per cent.
The ambassador attributed the export development to the zero-tariff coverage, saying it might enhance Nigeria’s entry to the Chinese market and assist industrial growth.
He urged each international locations to barter an financial growth partnership settlement earlier than the preferential coverage expires on May 1, 2028.
Dunhai referred to as on related Nigerian ministries to coordinate efforts in the direction of concluding the settlement and maximising the coverage’s advantages.
He reaffirmed China’s dedication to implementing agreements reached by each international locations’ leaders and strengthening bilateral relations.
Both international locations, he stated, would proceed pursuing shared growth objectives and constructing a group with a shared future. (NAN)
Edited by Kamal Tayo Oropo
