Nigeria, US Sign $2.3B Development Assistance Agreement In Support Of Buhari Administration’s Plan To Reduce Poverty

• Share:

NIGERIA, US SIGN $2.3B DEVELOPMENT ASSISTANCE AGREEMENT IN SUPPORT OF BUHARI ADMINISTRATION’S PLAN TO REDUCE POVERTY

The federal government has welcomed a $2.3B US government assistance over the next five years that will support the Buhari administration’s programme to combat extreme poverty among the Nigerian population.

Vice President Prof. Yemi Osinbajo, SAN, conveyed this message during the past week while signing the billion dollar assistance agreement with the United States Agency for International Development, USAID at the Presidential villa. According to the Vice President, “coming from the United States, this is particularly heartening and we are pleased the US is able to do this.”

Speaking with a US delegation led by the USAID Head of Mission in Nigeria, Mr. Michael Harvey, during the signing event in his office, the Vice President recalled that since President Mohammadu Buhari’s visit to US President Barack Obama in the White House in July, “we have seen much better cooperation from the US, there is a great deal of interaction on how we intend to implement our agenda. We know the interaction is because the US wants us to succeed.”

Prof. Osinbajo added that the issue of the extreme poverty of a vast majority of Nigerians “is a very important issue for us, it is at the heart of our economic policy, at the center of our agenda. You can’t have that vast number of poor people and don’t plan around that and for us, this is crucial, and absolutely important.”

Furthermore, the Vice President noted that the assistance is quite substantial while the inclusion of the Northeast among the areas of focus in the agreement is also very important. He said there is a consensus in government to address the problem of out-of-school children and the observed drop in enrollment figures in parts of the nation.

He added that the with the tough economic circumstances in Nigeria today, “the assistance is a demonstration that the US wants our country to be a much better place.” The Buhari administration, he assured, will continue to lead a transparent and open government, clean-up the business environment and emphasize a bottom-up approach economic planning.

The $2.3B assistance will cover activities from 2015 through 2020 with the objective of helping Nigeria reduce extreme poverty in a more stable, democratic society.  It is expected to stimulate inclusive economic growth, promote a healthier, more-educated population, and help strengthen good governance.

While Vice President Prof. Yemi Osinbajo signed on behalf of Nigeria, the USAID Nigeria Director Michael T. Harvey signed for the US at an event also attended by the U.S. Embassy Acting Deputy Chief of Mission Shawn E. Flatt.

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