U.S invests $17m in Nigeria’s power sector to boost agricultural productivity, economic growth

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  • $3m to help strengthen good governance…

Abuja, Nigeria — On October 22, the United States Agency for International Development (USAID) announced an additional $17 million in development assistance to fulfill the goals outlined in its 2015 Development Objectives Assistance Agreement with the Government of Nigeria.  This brings the total of development assistance provided under this agreement to $719 million.

The additional funding will support Nigeria’s power sector needs ($14 million), help increase agricultural productivity and economic growth ($2 million), and strengthen good governance ($1 million).  Overall, USAID partners with Nigeria to stimulate economic growth; promote a healthier, more educated population; and strengthen good governance.

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 bilateral assistance agreement, which will run through 2020.

In addition to the development assistance 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 2016, the United States has provided more than $694 million in humanitarian assistance and continues to be the single largest bilateral humanitarian donor to the region.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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