Business News of Thursday, 28 August 2025

Source: www.punchng.com

China donates $1m to Nigeria’s flood relief efforts

President Bola Tinubu and China's Xi President Bola Tinubu and China's Xi

The Federal Government’s flood relief efforts were boosted on Wednesday as the Chinese government donated $1m to support victims in the northern states. The Minister of Budget and Economic Planning, Abubakar Bagudu, signed the exchange notes on the financial support with the Chinese Ambassador to Nigeria, Yu Dunhai, in Abuja.

Bagudu, in a statement on Wednesday, described the intervention as timely, stressing that it would complement the government’s drive to deliver relief materials and rebuild livelihoods in severely impacted communities. “We firmly believe that today’s signing ceremony will open new avenues for collaboration, strengthening our strategic partnership for the mutual benefit of our peoples,” the minister said.

He assured that the grant would be managed transparently to ensure accountability. “A transparent framework, leveraging past experiences and unified templates, will guide the process to ensure that the assistance reaches the intended beneficiaries in the most efficient and impactful manner,” Bagudu stated. He added that the government had agreed on a joint monitoring and evaluation mechanism with the Chinese Embassy.

Speaking earlier, Ambassador Dunhai expressed China’s solidarity with Nigeria, recalling that both countries recently suffered devastating flooding. “We would like to express our deepest condolences to those who lost their lives and also convey our support,” he said. “In times of difficulty, China and Nigeria always stand together.”

He said the grant reflected China’s confidence in Nigeria’s recovery efforts.

“We are very confident that, under the strong leadership of the Federal Government and with the dedication and effort of all the people, Nigeria will overcome this hardship and rebuild its homes in the near future,” Dunhai said.

The envoy noted that beyond humanitarian aid, relations between the two countries continued to expand. “As an ambassador, I am pleased that our comprehensive strategic partnership is progressing rapidly. Just two months ago, President Xi Jinping announced zero-tariff treatment on 400 per cent of tariff lines for African countries with diplomatic ties to China, including Nigeria. This will boost Nigeria’s exports to China, create more jobs, and support economic development,” Dunhai said.

The Chinese aid targets communities in Kebbi, Jigawa, Sokoto, Borno, Taraba and Adamawa states, which were worst hit by recent flooding.