The Chargé d’Affaires at the U.S. Embassy in Nigeria David Greene, has stated that American companies and investors hold a favorable view of the policies implemented by President Bola Tinubu’s administration. This sentiment is expected to lead to an increase in American investments in Nigeria.
Speaking during a virtual press conference for the Global Diversity Export Initiative Trade Mission to South Africa, Ghana, and Nigeria, Greene expressed confidence in the structural reforms undertaken by Nigeria’s current leadership.
According to Business Insider Africa, he emphasized the renewed interest from both American and foreign investors in Nigeria, attributing it to the nation’s policy changes, including the removal of the fuel subsidy and the floating of the Naira.
President Tinubu is reportedly considering the reintroduction of a temporary fuel subsidy to alleviate the impact of subsidy reduction on Nigerians.
Greene highlighted the positive momentum in the U.S.-Nigeria bilateral economic relationship, underpinned by the ongoing structural changes. He noted that Nigeria’s status as Africa’s largest democracy, with a substantial population and economy, has the potential to drive stability and prosperity across West Africa.
The United States remains committed to a strong partnership with Nigeria, aimed at shared prosperity and mutual economic growth.
The U.S. Trade Mission in Africa is focusing its efforts on Nigeria, South Africa, and Ghana due to their significant economic potential, according to Marisa Lago, the U.S. Under Secretary of Commerce for International Trade.
Lago acknowledged the influence of prominent chamber business organizations representing various communities within the U.S., which has influenced the Trade Mission in Africa. She highlighted the United States’ commitment to supporting its businesses, including micro, small, and medium-sized enterprises, as well as engaging with the African diaspora in the U.S.
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Lago stated that the U.S. aims to strengthen the competitiveness of its businesses and workers, including tapping into the strength and pride of the African diaspora in the United States. Looking forward, the U.S. intends to continue its trade missions and expand its engagement to other African nations.