Nigeria, EU Sign $1 Billion Dollar Corruption Agreement

Image: Courtesy of THE EU.

Abuja (THEWILL) – The European Union has announced it signed a $1 billion dollars agreement with Nigeria aimed at fighting corruption, strengthening governance and sustaining peace in the delicate Niger Delta region.

The EU in a note made available to the media on thursday said the agreement would assist the country in the areas of governance, trade, security and peace for a four-year period, ending in 2013.

The Union said it expects to spend about 166 million euros on reforms to fight corruption and promote the electoral process in the local, state and federal levels of government in oil producing country.

EU Development Commissioner, Karel De Gucht was excited about the agreement. He said “ I’m delighted that a substantial amount of this financing will go to support conflict resolution and the peace process in the Niger Delta which has been ravaged by years of unrest.”