US Announces $92.73 Million in Additional Assistance to Reduce Poverty in Nigeria

  • US Announces $92.73 Million in Additional Assistance to Reduce Poverty in Nigeria

The United States of America, through the U.S. Agency for International Development (USAID), has announced $92.73 million in additional developmental assistance to support the five-year $2.3 billion agreement signed with the Nigeria Government in 2015. This brings the total of development assistance provide to $474.74 million.

This funding will continue to help Nigeria reduce extreme poverty in a more stable, democratic society. Activities will stimulate inclusive economic growth, promote a healthier, more-educated population, and strengthen good governance.

“Today we are pleased to contribute additional funding in support of the agreement signed with the Nigerian Government in 2015,” said USAID, Mission Director, Michael Harvey. “With their leadership we know this funding will have a significant impact on the wellbeing of Nigerians,” he added.

Disclosing this in a release, the Information Office, Public Affairs Section of the Embassy of the United States of America in Nigeria, said in an effort to align Nigeria’s development plans with sector-specific strategies, USAID collaborated with the Nigerian Ministry of Budget and National Planning; the Nigerian ministries of health, agriculture, power, and education; and state-level government counterparts to structure the agreement, which is in place until 2020.

In addition to the developmental funding, the United States provides humanitarian assistance to people affected by the ongoing conflict and severe food insecurity in Nigeria and throughout the Lake Chad Basin. Since fiscal year 2015, the United States has provided more than $366 million in humanitarian assistance and continues to be the single largest bilateral humanitarian donor to the region.

USAID partners to end extreme poverty and promote resilient, democratic societies while advancing our security and prosperity. In its partnership with Nigeria, the United States strengthens social stability through social services, supports transparent and accountable governance, promotes a more market­led economy, and enhances Nigeria’s capacity as a responsible regional and trade partner.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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