US-Nigeria Investment Partnership Launched to Boost Trade and Private-Sector Growth
The United States and Nigeria have officially launched the US-Nigeria Commercial and Investment Partnership (CIP), a five-year initiative designed to strengthen trade ties, attract investment, and foster private-sector growth. The partnership represents a strategic effort to deepen economic collaboration between Africa’s largest economy and the United States.
The launch was marked at a ministerial meeting in Lagos, co-chaired by US Deputy Assistant Secretary for the US Commercial Service, Bradley McKinney, and Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole. The meeting gathered government officials and private-sector leaders to review reform proposals from CIP Working Groups focused on Agriculture, Digital Economy, and Infrastructure.
The Working Groups presented actionable strategies aimed at improving Nigeria’s business environment, reducing trade barriers, and attracting foreign investment. McKinney described the proposals as practical measures to strengthen bilateral trade while creating new economic opportunities for both countries. These reforms are expected to streamline commerce and make cross-border partnerships more efficient.
Dr. Oduwole emphasised Nigeria’s dedication to expanding non-oil exports and boosting the competitiveness of local businesses in global markets. “We are focused on creating sustainable and inclusive opportunities for Nigerian companies to access US markets and beyond,” she said, noting ongoing efforts to make Nigeria’s economy more predictable and investment-friendly.
Senior officials from both nations, including US Mission Chargé d’Affaires Keith Heffern and Nigeria’s Permanent Secretary Ambassador Nura Rimi, attended the session. In 2024, bilateral trade between the two countries reached nearly $13 billion, while US foreign direct investment in Nigeria rose 25 per cent to $7.9 billion, positioning the United States as one of Nigeria’s top investors. The CIP is expected to facilitate ongoing consultations, encourage two-way investment flows, and strengthen economic growth across the Atlantic.
source: arise