Nigeria to get $2.3 billion from the US to fight poverty in five years

Nigeria will be receiving up to $2.3 billion developmental assistance to fight poverty, from the United States of America through the U.S. Agency for International Development (USAID) over the next five years.

Nigeria’s Vice President Yemi Osinbajo and USAID/Nigeria Director Michael T. Harvey signed the agreement during a ceremony at Aso Rock Villa over the weekend. The U.S. Embassy Acting Deputy Chief of Mission Shawn E. Flatt was also present at the signing ceremony.

The $2.3 billion agreement, said to be coming on the heels of President Muhammadu Buhari’s visit to Washington, D.C last July, covers activities from 2015 through 2020 and aims to help Nigeria reduce extreme poverty in a more stable, democratic society.

The activities under the nearly N500 billion developmental assistance are said to be directed towards stimulating inclusive economic growth as well as promoting a healthier, more educated population, and strengthen good governance.

“This agreement will provide a solid foundation for our two countries to partner together to reduce inequalities across the country,” said Mr. Harvey.  “I commend the Vice President and National Planning Commission for their leadership and support of the activities under this agreement,” he added.

The Nation reports that USAID has similarly entered into a collaboration with the National Planning Commission and some ministries of the federal government in an effort to align Nigeria’s development plans with sector-specific strategies.

Ministries said to be collaborating with USAID in the above regard include the ministries of health, agriculture, power, and education while state-level government counterparts will also be incorporated to structure the agreement.