The United States and Nigeria saw their bilateral trade surge to nearly $13 billion in 2024, the U.S. Consul General in Lagos, Rick Swart, revealed on Wednesday. Swart attributed the milestone to the deepening commercial relationship between the two nations, highlighting Nigeria as the second-largest trading partner for the U.S. in sub-Saharan Africa.
Swart made the announcement during the launch of the Africa Hub of the Centre for International Private Enterprise (CIPE) in Lagos, a non-profit organization dedicated to strengthening democracy and economic freedoms worldwide. The event attracted business leaders and representatives from chambers of commerce and associations across Nigeria and other African countries. According to the Consul General, the Trump administration’s focus on foreign trade and commercial diplomacy has played a key role in boosting U.S. exports and investments in Africa.
“The nearly $13 billion in goods and services traded between our countries in 2024 reflects robust economic activity across multiple sectors,” Swart said. He emphasized that the US-Nigeria partnership is rooted in the strong connections between companies, entrepreneurs, and citizens of both nations, which continues to fuel growth and opportunity.
Swart also highlighted education ties, revealing that over 20,000 Nigerian students are currently studying in the U.S., the highest number from any African country and the seventh-largest globally. These educational exchanges further strengthen bilateral relationships and foster long-term collaboration between the two nations.
CIPE officials, including Global Executive Director Andrew Wilson and Africa Regional Director Lola Adekanye, praised the new hub for enhancing governance, amplifying business voices in policymaking, and supporting sustainable economic development across Africa. Wilson noted CIPE’s over 30 years of work on the continent, emphasizing the organization’s commitment to improving lives and promoting open markets, while Adekanye described the hub as a vital platform for stakeholders to connect and share ideas.
source: daily trust