China's foreign aid and its impact on poverty, unemployment, infrastructure, economic development, and bilateral trade in Nigeria: Using a regression model

For the past few decades, China has provided constant development assistance to Africa of which Nigeria is not an exception. This assistance has been one of the most contentious issues in the continent. Notwithstanding, whether foreign aids are sufficient or insufficient, foreign aid has the potential in accelerating economic development, alleviating poverty, reducing unemployment, and increasing industrialization and infrastructural development. Foreign Aid and economic development, on the other hand, are inextricably linked. Foreign aid has an enormous impact on the recipient's economy and prosperity.  However, proper utilization and appropriation of foreign assistance received matters in this regard, on how it will inure positive economic benefits is a course of concern. The research considers first-hand information on the kind of Foreign Aid sourcing from China and its significant impact on alleviating poverty, reducing unemployment, increasing industrialization and infrastructural development in Nigeria.  Because proper utilization of Aid received and its management is a means to successful economic development and the deepening of bilateral ties between countries. Foreign aid received help in saving the lives of citizens, rebuilding the livelihood of people, providing medical care, developing agriculture for food security and export, encouraging the development of industry and technology, and proper exploration of natural resources for export, especially solids minerals. Besides, the country still needs further aid from other developed nations to support its economic development activities because issues of poverty, unemployment, and lack of social and economic infrastructures persist in the country. We conducted a thorough investigation to determine the impact of each variable on economic development and bilateral trade relation. For statistical analysis, we employed the multiple linear regression model and ANOVA test to establish the significant impact of the explanatory variables on economic development and bilateral trade relations. For instance, the findings suggest that Foreign Aid received impact positively on poverty alleviation, reducing unemployment, increasing industrialization and infrastructural development in Nigeria, as evident in our regression analysis (see Table 7). The findings made a significant contribution to existing knowledge in the areas of foreign Aid received, economic development, as well as bilateral trade relations between China-Nigeria. This research is in support of the United Nations Sustainable Development Goal one. The results, therefore, provide a roadmap for assessing and strengthening foreign aid policy and its benefit for economic development across the globe.