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Nigeria to Receive $5.7m US Assistance to Enhance Democratic Governance

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In a bid to promote democratic governance in Nigeria, the United States of America has allocated $5.7 million to support the country’s electoral process.

This was disclosed in the Congressional Budget Justification for Foreign Operations document for Fiscal Year 2024. The document stated that the assistance would promote stability, economic growth, and advance Nigeria’s path to sustainable development.

According to the document, the assistance will strengthen Nigeria’s capacity to manage elections, enhance the capacity of civil society organizations to conduct independent election observation, and support the participation of marginalized populations in political processes to promote free and fair elections.

Furthermore, the assistance will address the drivers of conflict by broadening economic growth, increasing Nigeria’s capacity to adapt to climate change impacts, expanding quality health access, and improving education services.

The allocation is part of the $67.1 million allocated for foreign operations in Nigeria, and it covers the Sustaining Electoral Engagement in Democracy and Sustaining Electoral Accountability and Transparency activities.

The aid will bolster civil society organizations’ ability to advocate and provide oversight on initiatives to combat gender-based violence. It will also provide support for marginalized populations to participate in political processes to promote free and fair elections.

The United States government believes that Nigeria, as the economic engine of West Africa, is a crucial trade, investment, and security partner, and plays a foundational role in regional prosperity.

The funding also covers USAID’s Peace Action for Rapid and Transformative Nigerian Early Response activity, which will build a sustainable and durable “early warning, early response” conflict prevention system.

This assistance is a significant boost to Nigeria’s democracy, and it will go a long way in promoting transparency and accountability in the electoral process. The Nigerian government has welcomed the aid and pledged to use it judiciously.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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