The Consul-General of Nigeria in New York, Amb. Abubakar Jidda, has reiterated Nigeria’s commitment to deepening trade and investment relations with the U.S.
He stated this while speaking at the 14th Annual Trade and Investment Summit hosted by the Nigeria-USA Chamber of Commerce in Cleveland, Ohio.
“We are reforming, we are resilient, and we are ready,” Jidda declared, encouraging American investors and the Nigerian diaspora to tap into Nigeria’s evolving investment landscape shaped by far-reaching reforms under President Bola Tinubu’s Renewed Hope Agenda.
From diplomacy to deliverables
Jidda stressed the importance of moving from “diplomacy to concrete deliverables,” given the longstanding relationship between both nations.
According to him, key reforms such as fuel subsidy removal, foreign exchange unification, and sweeping tax and regulatory reforms are evidence of Nigeria’s determination to build a business-friendly environment anchored on private-sector growth.
“No serious investor looking for long-term growth and attractive returns can afford to ignore Nigeria,” Jidda said.
“With a population of over 220 million and access to the $3.4 trillion African Continental Free Trade Area, Nigeria offers a gateway to the continent,” he added.
Pillars of Nigeria’s trade
He outlined 10 pillars driving Nigeria’s trade and investment policy, including ease of doing business reforms, export diversification, infrastructure upgrades, and public-private partnerships.
- Jidda added that practical incentives such as 24-hour online company registration, digitized port systems, special economic zones, tax holidays, and visa-on-arrival policies are already easing market entry for investors.
- According to him, growth sectors in Nigeria include agribusiness, FinTech, renewable energy, pharmaceuticals, real estate, tourism, maritime, and the creative industries.
- Jidda praised the Nigerian diaspora for their significant contributions through remittances, expertise, and investments, calling them “one of our greatest assets in advancing Nigeria’s global economic footprint.”
Assurance to investors
He assured potential investors of the support of Nigerian missions in the U.S., highlighting institutions such as the Nigeria Sovereign Investment Authority (NSIA), Infrastructure Corporation of Nigeria (InfraCorp), and the Development Bank of Nigeria (DBN) as ready partners for financing and development support.
“Nigeria is a promise to be fulfilled, and that promise can only be achieved together,” he said.
- In his welcome remarks at the event, Founding CEO of the Nigeria-USA Chamber of Commerce, Mr. Leo Kareem, reflected on the summit’s journey since 2010 and its goal of fostering cross-border trade and empowering small businesses.
- This year’s summit, themed “Promoting U.S. and Nigerian Exports to Emerging Markets,” attracted policymakers, trade experts, entrepreneurs, and investors from both nations. Also in attendance was Nigeria’s Consul for Trade and Investment, Amb. Franklin Ogunyemi, who engaged U.S. stakeholders on unlocking trade and investment opportunities.
