VOA常速英语:Economic Assistance to Nigeria

Economic progress for Nigeria's most vulnerable population improved in October, thanks to a new agreement between the United States of America and the Government of Nigeria. On October 5th,the support the five-year $2.3 billion dollar agreement signed with the Nigeria Government in 2015. The assistance agreement, announced in Abuja, brings the total of development assistance provided to $474.74 million.

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.

“We are pleased to contribute additional funding in support of the agreement signed with the Nigerian Government in 2015,” said USAID Mission Director Michael Harvey. “With their leadership we know this funding will have a significant impact on the well-being of Nigerians,” he added.

In an effort to align Nigeria's development plans with sector-specific strategies, USAID collaborated with the 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.

In addition to the developmental funding, the United States 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 United States has provided more than $366 million dollars in humanitarian assistance and continues to be the single largest bilateral humanitarian donor to the region.

About USAID: USAID partners to end extreme poverty and promote resilient, democratic societies, while advancing our security and prosperity. In its partnership with Nigeria, the United States strengthens social stability through social services, supports transparent and accountable governance, promotes a more market-led economy, and enhances Nigeria's capacity as a responsible regional and trade partner.

The United States is proud to work with its partner, Nigeria, to promote the prosperity and well-being of the people of Nigeria, the region, and the world.