Chevron foundation, USAID give Nigeria $50M

Chevron Corp.'s foundation and USAID are to pour $50 million into Nigeria's impoverished delta where militants have kidnapped foreign oil workers and demanded that more oil profits come back to the region, the U.S. oil giant said Thursday.

Chevron's Niger Delta Partnership Initiative and the U.S.-government funded USAID will each invest $25 million toward the development of the region over the next four years.