Nigeria Signals Readiness to Boost Trade and Investment Ties with U.S., Says Envoy

Nigeria has reaffirmed its readiness to strengthen trade and investment ties with the United States, according to Ambassador Abubakar Jidda, the country’s Consul-General in New York. Speaking at the 14th Annual Trade and Investment Summit in Cleveland, Ohio, Jidda emphasized Nigeria’s commitment to economic reforms and invited American investors and the Nigerian diaspora to explore growing opportunities in the country. His remarks aligned with President Bola Tinubu’s “Renewed Hope Agenda,” which aims to reshape Nigeria’s economic landscape.

Ambassador Jidda stressed the need to move beyond diplomatic gestures to practical partnerships that yield tangible results. Highlighting reforms such as the removal of fuel subsidies, unification of foreign exchange rates, and new tax policies, he described Nigeria as a country on the path to becoming a top destination for global investment. Jidda noted that these changes are creating a more business-friendly climate led by the private sector.

With a population exceeding 220 million and access to the $3.4 trillion African Continental Free Trade Area (AfCFTA), Nigeria offers a strategic gateway to African markets. Jidda outlined ten key pillars of the country’s trade policy, including ease of doing business, export diversification, improved infrastructure, and stronger public-private partnerships. He also highlighted investor-friendly incentives such as digitalized services, tax holidays, special economic zones, and visa-on-arrival.

Emerging sectors like agribusiness, financial technology, renewable energy, pharmaceuticals, real estate, tourism, maritime, and creative industries were cited as areas of growth. Jidda praised the Nigerian diaspora for their vital role in economic development through remittances, expertise, and direct investments, calling them one of Nigeria’s greatest assets in expanding its global economic influence.

To further build investor confidence, Jidda assured U.S. stakeholders of the full support of Nigerian missions and institutions like the Nigeria Sovereign Investment Authority (NSIA), InfraCorp, and the Development Bank of Nigeria. The summit, themed “Promoting U.S. and Nigerian Exports to Emerging Markets,” was attended by business leaders, investors, and government officials, including Nigeria’s Consul for Trade and Investment, Amb. Franklin Ogunyemi, who engaged U.S. partners on unlocking bilateral trade opportunities.

Source: Nairametric