China has signed a development cooperation agreement with Nigeria that will provide about $30 million in grant funding for livelihood projects across the country.
The agreement was signed by Chinese Ambassador to Nigeria, Yu Dunhai, during a meeting with the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu.
According to the ambassador, the grant will be directed towards what China describes as “small and beautiful” livelihood projects.
The projects are expected to require relatively low investment, be implemented quickly, generate fast returns and deliver direct benefits to local communities.
Yu said the funding reflects China’s commitment to supporting Nigeria’s development priorities and strengthening bilateral cooperation between the two countries.
He added that the initiative aligns China’s forthcoming 15th Five-Year Plan with Nigeria’s Renewed Hope Agenda, while reinforcing the longstanding strategic partnership and development ties between both nations.
The latest grant forms part of ongoing cooperation between Nigeria and China in areas of economic development and public welfare.
