China and Nigeria Monday signed a 900-million-U.S.-dollar credit agreement for rail and communications projects.

Olusegun Aganga, the Nigerian Finance Minister, announced the deal at a press conference at the Nigerian Embassy in Beijing.

The agreement between the Nigerian government and the Export-Import Bank of China comprises of the Abuja rail project worth 500 million U.S. dollars and a national public security communications project worth 400 million U.S. dollars.

"These are two priority infrastructure projects crucial for Nigeria's economic and social development," the minister said.

"It is more than a loan agreement. It marks the beginning of a new kind of partnership, where the companies do not only see themselves as contractors but also partners to transform our country and our economy," Aganga said.