Recession: US gives Nigeria $92.7 million, To fight poverty

The United States of America has announced a $92.73 million (N43,86 billion) developmental fund assistance to Nigeria. The fund, the US said is to help Nigeria fight extreme poverty within the nation. Making the announcement today, October 11, the US  government through the US Agency for International Development (USAID) said the new money is an additional development assistance to support the five-year $2.3 billion agreement signed with the Nigerian government in 2015. “This brings the total of development assistance provide to $474.74 million,” the US said in a statement.
The US government also said that the funding will continue in order to help Nigeria reduce extreme poverty in a more stable and democratic society. The statement added that activities will stimulate inclusive economic growth, promote a healthier, more-educated population, and strengthen good governance.

Also the USIAD mission director Michael Harvey said: “Today we are pleased to contribute additional funding in support of the agreement signed with the Nigerian Government in 2015.” “With their leadership we know this funding will have a significant impact on the well-being of Nigerians,” Harvey said. This effort the US said is to help align development plans with sector-specific strategies.

USAID in collaboration with 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. Also the US is providing an additional developmental funding which provides humanitarian assistance to people affected by the ongoing conflict and severe food insecurity in Nigeria and throughout the Lake Chad Basin. Since the beginning of 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.