GOVERNMENT of the United Kingdom, through its Department for International Development (DfID),

has said it will provide £300 million per year by 2015, as development assistance for Nigeria.

Announcing the plan to inject the fund into the economy,
the UK government said its aim was to unlock the potential already latent in the Nigerian economy and pull people out of poverty.

UK’s Minister for Africa, Henry Bellingham, made the disclosure at a business and investment summit on Nigeria, at the Dorchester Hotel, London, on Monday.

The event was hosted by the Nigeria Olympics Committee and the Bank of Industry (BoI) in Nigeria.

The minister described the Petroleum Industry Bill (PIB) currently before the National Assembly as of great significance,
as it provides opportunity for Nigeria to demonstrate to the business community that it is ready and willing to embrace and protect new investments.


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