U.S Gives Nigeria $92.7 Million To Alleviate Poverty

In line with the 2015 US-Nigeria bilateral agreement, the U.S embassy on Tuesday, announced a financial assistance of $92.7 million to help alleviate poverty in Nigeria.

“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”.- US Embassy

The embassy further explained that the amount adds up to a total of $474.74 million in development assistance as provided in the agreement.

See Also: Crude Oil Theft: Nigeria Is Looking To Germany For Help

The United States Government signed a developmental assistance agreement with the Nigerian Federal Government in 2015. The aim of the agreement is to foster development with a total sum of $2.3 billion spread out in 5-years.

“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.”- US Embassy

As the United States keep to their word, they also have the expectation that the funds will be used to bridge poverty gaps which has heightened in the country.

Report says that the US relations with the Federal government of Nigeria has seen a donation of over $300 million. Thus, considered  the single largest bilateral humanitarian donor to the region.

See Also: World Powers Unfairly Battle Nigeria On Coal; Says It’s Not Green Energy 

“In addition to the developmental funding, the US 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.”-US Embassy 

Nigeria has equally been working hand in hand with the USAID.

The USAID Mission Director, Michael Harvey, has shared his optimism that the funding will be of great positive impact in the lives of Nigerians.