Wed. Jul 24th, 2024

Nigeria and China Sign Bilateral Agreement Of About N400 Million

imageAbuja (Nigeria) — Nigeria and China on Monday signed a bilateral agreement of over eight million China’s Yuan (about 400 million naira) for various projects in Abuja, Nigeria’s capital city.

The projects include feasibility studies of the second phase of the Abuja Solar Powered Traffic Control Signal, Agricultural Demonstration Centre and the 2016 Bilateral Training Programmes.

A statement by Media Adviser to Minister of Budget and National Planning, Mr James Akpandem, says the agreement was signed at the sixth session of the Economic, Trade and Technical Cooperation Joint Commission meeting in Abuja.

“The project will be funded through gratis assistance as part of the 2012 Economic and Technical Cooperation Agreement between the two governments,” the statement sa

It says Nigeria’s Minister of Budget and National Planning, Udoma Udom Udoma signed on behalf of his country, while China’s Vice Minister of Commerce, Mr. Qian Keming, signed on behalf of the People’s Republic of China.

“RMB Yuan 6,000,000.00 is allocated for training programmes; the Agricultural Centre is allocated RMB Yuan 1,000,000.00, while the solar project study has RMB Yuan 1,200,000.00.

“Since the last Joint Commission Session held in Beijing, China, in 2009, the relationship between the two countries has further deepened with increased trade, investments and technical activities.

“This raised the volume of trade from U.S.$6.37 billion in 2009 to U.S.$14.94 billion in 2015.”

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