US to give $92.73m Developmental Assistance to Nigeria

The US Government through USAID will give  $92.73m in developmental assistanc to help in the funding of the five-year $2.3bn agreement it signed with the Federal Government in 2015, PM News reports.

The US Embassy in a statement released Tuesday, said that this fund was to help Nigeria reduce extreme poverty, stimulate inclusive economic growth, promote a healthier, more educated population, and strengthen good governance.

Michael Harvey, USAID Mission Director,  optimistic about the arrangement, reiterated that the funding would have a positive impact on Nigerians.

According to the statement released through the embassy, USAID has in the past 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.

The embassy said, “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 that the current fund brought the total development assistance provided in the agreement to $474.74m.