US, Nigeria sign $340m intervention fund for development programmes

The United States Government through the United States Agency for International Development (USAID) has signed a $340 million Development Assistance Agreement with Nigeria. The fund is for intervention in the nation’s development programmes.
According to the US Ambassador to Nigeria, Mr Terence McCulley, who signed the agreement on behalf of his country, due to Nigeria’s contribution to global peace keeping and economy, the US government intervened to assist Nigeria to tackle its inadequate infrastructure and improve other social amenities.
Responding, the Minister of the National Planning Commission, Dr Shamusudeen Usman, who signed for Nigeria at the occasion in Abuja, the fund was part of the N2.3 trillion development assistance agreement signed by the two countries on September 15, 2010, adding that the N2.3 trillion would be expended on development programmes in the country between 2010 and 2013.
The minister stated that the $340 million, would be expended in 2012 to support the country’s infrastructure development, agriculture policies and health care programme. He noted that the fund was also to support access to basic education, improve good governance and reduce poverty in the country.

Usman called on development partners in the country to ensure that their Official Development Assistance (ODA) is in line with development priorities of the Federal Government. He said that the development partners and host country needed to have mutual understanding and respect for ODA legal regulations and the country’s development priorities, adding that the Commission would review ODA to avoid duplication of projects.