Nigeria will invest $10bn (£8bn) in the Niger-Delta region to end an insurgency by militants, Minister of State for Petroleum resources, Emmanuel Ibe Kachikwu, has announced, according to a BBC report.
The money would be used to build infrastructure, including roads and railways, the minister said.
Militant attacks have severely disrupted oil production, fuelling a recession in the West African state.
The militants have been demanding that the government spend more of its oil wealth on tackling widespread poverty in a region, known as the Niger Delta.
They also accuse multinational firms of polluting the environment, destroying the livelihoods of farming and fishing communities.
Mr Kachikwu said that President Muhammadu Buhari would meet the militants and community leaders next week.
“Our target is to ensure zero militancy in the area,” he said.
“This planned meeting shows the level of interest the president has to ensure peace in the area.”
The $10bn would “not necessarily” come from the federal government, but from “oil companies, investors, individuals”, he is quoted by Reuters news agency as saying.