LAGOS, Nigeria (AP) - Chevron Corp. has announced that its foundation and a U.S. aid agency are to spend $50 million to improve living standards in Nigeria's oil-rich southern delta.
Chevron said in a statement Thursday that its foundation had signed a memorandum of understanding with USAID. It said that they will each invest $25 million toward the development of Nigeria's delta region over the next four years.
A Chevron vice president said it was an investment "in developing stronger communities and the future of our business."
Militants in the delta began a campaign of kidnapping and pipeline bombings in 2006, upset over pollution and the region's endemic poverty despite 50 years of oil production.
(Copyright 2011 by The Associated Press. All Rights Reserved.)