**The European Commission has signed a $1bn (£602m) development pact with Nigeria, aimed at tackling corruption and promoting peace.**A substantial amount of the funding will be spent on resolving conflict in the oil-rich and crime-plagued Niger Delta, the EU’s development chief said.
The money will also target human rights and electoral reform.
But a BBC correspondent in Lagos says many Nigerians will be cynical that the money will get to its intended targets.
$1 BILLION EU FUNDS
- 25%: peace and security
- 44%: governance and human rights
- 16%: trade, region integration and energy
- 15%: environment, health, culture and sciences
Almost a third of the overall budget is devoted to the Niger Delta region.
For years militants have blown up pipelines and kidnapped foreign oil workers, demanding a fairer share of the wealth.
“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,” said the EU’s development commissioner Karel De Gucht .
Over the last few months, thousands of militants have given up their weapons in an amnesty deal offered by the government in return for the promise of education and jobs.
A three-month respite from the violence has brought back some oil and gas production, but sceptics fear the former fighters could resume violence if they do not quickly find work.