Nigeria and China have signed a $30m grant agreement to fund community development projects, as both countries seek to deepen economic cooperation and improve livelihoods.
The agreement, worth 200 million Chinese yuan, is expected to support locally driven initiatives addressing development needs across Nigerian communities.
The Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, disclosed this at the signing ceremony held at the ministry in Abuja.
Bagudu said the projects would be developed in collaboration with the Nigeria-China Strategic Partnership Office, based on proposals submitted by state governments to address specific grassroots needs.
He said the agreement would support China's 'small but beautiful' initiative, which focuses on practical projects with direct benefits for local communities.
The minister urged both countries to ensure that their development commitments translated into measurable improvements in the lives of Nigerians.
He also identified China's experience in poverty reduction, capacity building and institutional development as areas Nigeria could draw lessons from.
Bagudu said the grant was an addition to previous Chinese assistance, including a $1m contribution earlier in 2026 to strengthen Nigeria's technological and knowledge development capacity.
He further highlighted opportunities to expand Nigerian exports under China's zero-tariff policy, which took effect on May 1, 2026.
The Chinese Ambassador to Nigeria, Yu Dunhai, said the agreement reflected Beijing's commitment to supporting Nigeria's development priorities and strengthening bilateral relations.
He added that the deal followed agreements reached by President Bola Tinubu and Chinese President Xi Jinping during their meeting in China, as well as the outcomes of the Fourth China-Nigeria Cooperation Forum in Beijing.
Dunhai disclosed that bilateral trade reached $18bn in the first half of 2026, while Nigeria's exports to China increased by 80 per cent.
He said the zero-tariff policy would provide greater market access for Nigerian businesses, attract investments and support industrial development.
The agreement comes as Nigeria and China mark 55 years of diplomatic relations, with both countries seeking to expand cooperation in trade, technology and economic development.
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