US provides $92.7bn to reduce poverty in Nigeria

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United States Government has announced the sum of $92.73 million in developmental assistance to support the five-year $2.3 billion agreement signed with the Federal Government in 2015.

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The U.S. Embassy in a statement on Tuesday in Abuja, said the amount was being provided through the U.S. Agency for International Development (USAID).

The embassy explained that the money brought the total of development assistance provided in the agreement to 474.74 million U.S. dollars.

“This funding will continue to help Nigeria reduce extreme poverty in a more stable, democratic society.

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“Activities will stimulate inclusive economic growth, promote a healthier, more educated population, and strengthen good governance,” the embassy said.

It quoted the USAID Mission Director, Michael Harvey, as expressing the confidence that the funding would have positive impact on Nigerians.

“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,” It said.

The statement also said that said USAID had collaborated with the Federal ministries of Budget and National Planning, Health, Agriculture, Power, and Education in an effort to align Nigeria’s development plans with sector-specific strategies.

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According to it, USAID also collaborated with state-level government counterparts to structure the agreement, which was in place until 2020.

“In addition to the developmental funding, the U.S. 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 U.S. has provided more than 366 million dollars in humanitarian assistance and continues to be the single largest bilateral humanitarian donor to the region,” It added.

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