In a bid to ensure global economic development, the United States Agency for International Development (USAID) has announced an additional developmental assistance of $227.3 million equivalent to N71.5 billion to support the five-year $2.3 billion agreement signed with the Federal Government in 2015.
The US Ambassador to Nigeria, Mr Stuart Symington, who disclosed this in Abuja, recently, explained that the $227.3 million had brought the total provision under the agreement to $702 million.
Mr. Symington also stated that the additional funding is intended to help Nigeria reduce extreme poverty, by stimulating inclusive economic growth, promote healthier, more-educated population, and strengthen good governance.
The envoy reiterated the commitment of the US government in tackling global development challenges in Africa which is the motive behind the US providing humanitarian assistance to people affected by the Boko Haram crisis and food insecurity in the North-East and the Lake Chad Basin.
According to him, USAID would continue to collaborate with some Federal and state ministries which include Budget and National Planning, Health, Agriculture, Power, and Education to structure the agreement, which would run through 2020.
He further noted that the US provided more than US$291 million dollars for humanitarian assistance to Nigeria in 2016.
“We are pleased to announce new funding under the agreement signed with the Nigerian government in 2015 to provide better access to education and health services and promote democracy and economic growth.
“We know this funding will significantly improve the well-being of Nigerians,” he said.