The Chargé d’Affaires for the U.S. Embassy in Nigeria, David Greene, has said that businesses and investors in the United States are satisfied with the policies of President Bola Tinubu’s administration and will soon be investing more in the country.
Speaking during a virtual press briefing on the U.S. Department of Commerce-led Global Diversity Export Initiative Trade Mission to South Africa, Ghana, and Nigeria, Greene said Nigeria would soon witness an increase in investments from the U.S. based on the structural changes that have been undertaken by the current administration in the country.
According to him, there has been a renewed interest in Nigeria from U.S. businesses and investors as well as other international investors.
Referring to the removal of the fuel subsidy and the floating of the naira, Greene said U.S.-Nigeria bilateral relationship on the economic front is getting more assertive on the basis of the new policies.
This is, however, coming at a time President Tinubu is reported to be considering re-introducing a ‘temporary fuel subsidy’ to alleviate the sufferings of many Nigerians who have been feeling the pangs of the subsidy removal.
More U.S. investment
Expressing the satisfaction of the U.S government and its businesses with Tinubu’s administration, Greene said:
- “This is a very exciting time in the US–Nigeria bilateral relationship, especially on the economic front, with the Tinubu’s administration undertaking some of the structural changes that we think will create the foundation for a new influx of U.S. capital investment and increase trade with Nigeria. We’re already seeing a renewed interest from US businesses and investors, as well as other international investors.”
On the importance of Nigeria in Africa and to the U.S. interests in the continent, Greene said:
- “Nigeria is home to Africa’s largest democracy, population, and economy and we really believe that Nigeria’s economic growth will bring stability and prosperity not only for the Nigerian people but also across West Africa. Nigeria is such an economic heavyweight through cross-border expansion and economic integration, including under the African continental free trade area. So, the United States remains committed to an enduring partnership with Nigeria: One centered on our aspirations for shared prosperity and mutual economic growth.”
Focus on Nigeria, South Africa, and Ghana
Speaking earlier, the U.S. Under Secretary of Commerce for International Trade, Marisa Lago, the U.S. Trade Mission in Africa is focusing on Nigeria, South Africa, and Ghana because of the huge economic opportunities in the countries.
- “When we selected the particular countries for this trade mission, we were looking to ensure that we included some of the largest economies on the African continent. We wanted to make sure that we selected countries whose economies had a strong presence in sectors that had strong prospects for US companies where there was the ability to match up the US companies on this trade mission with companies in those countries,” she said.
Lago added that the Trade Mission in Africa was also influenced by some of the leading chamber business organizations that represent the black community, the Native American Indian community, and the women-led business.
She said the U.S. is already looking forward to future trade missions, and it would continue looking to visit other countries on the continent as well.
- “Our mission is to support the competitiveness of U.S. businesses and their workers. And this includes micro small and medium-sized enterprises and also tapping into the very strong African diaspora, which we have in the United States and which is a source of our strength and also a point of pride,” she said.
