The Consul-General of Nigeria in New York, Ambassador Abubakar Jidda, has reaffirmed Nigeria’s commitment to deepening bilateral trade and investment relations with the United States.
Speaking in Cleveland, Ohio, during the 14th Annual Trade and Investment Summit hosted by the Nigeria-USA Chamber of Commerce, Jidda called on U.S. investors and members of the Nigerian diaspora to tap into the far-reaching reforms under President Bola Tinubu’s Renewed Hope Agenda.
“Nigeria is sending a clear message to global partners: We are reforming, we are resilient, and we are ready,” he declared.
Jidda urged stakeholders to leverage the country’s strategic economic reforms, including the removal of fuel subsidies, foreign exchange unification, and business-friendly policies, to invest in key sectors such as agribusiness, fintech, real estate, tourism, pharmaceuticals, and energy.
“Nigeria is Africa’s largest economy with a youthful population of over 220 million and direct access to the $3.4 trillion African Continental Free Trade Area. Investors are not just entering a country, they are accessing a continent,” he said.
He stressed that the time has come to move from diplomatic ties to tangible deliverables, given the longstanding Nigeria-U.S. relationship.
$8.1 Billion Trade Volume in 2024
According to the envoy, trade between Nigeria and the U.S. reached over $8.1 billion in 2024, with Nigeria’s non-oil exports growing by over 15%. He said these figures reflect the strong economic synergy between both nations.
Jidda also highlighted initiatives such as 24-hour online company registration, digitised port operations, special economic zones, tax holidays, and visa-on-arrival as deliberate moves to attract foreign investment.
He outlined 10 pillars supporting Nigeria’s international trade policy, including liberalisation, investment protection, public-private partnerships, and infrastructure development.
The diplomat commended the Nigeria-USA Chamber of Commerce for advancing bilateral trade and praised Nigerians in the diaspora for their vital role in national development.
“I salute your resilience and entrepreneurial spirit. Your investments and remittances remain a backbone of our economic transformation,” he said.
Support for Foreign Investors
Jidda assured potential investors of full support from Nigerian missions in the U.S., and encouraged collaborations with Nigerian businesses. He also mentioned strategic institutions like the Nigeria Sovereign Investment Authority and the Development Bank of Nigeria as key financial partners for foreign businesses.
“Nigeria is a promise waiting to be fulfilled. Let’s achieve that promise together,” he concluded.
Summit Bridges Opportunities
Earlier, the Founding CEO of the Nigeria-USA Chamber of Commerce, Leo Kareem, recalled the chamber’s journey since 2010, noting its continued commitment to boosting exports and empowering SMEs across both nations.
This year’s summit, themed “Promoting U.S. and Nigerian Exports to Emerging Markets,” brought together policymakers, entrepreneurs, and investors to explore new trade frontiers.
Also present was Ambassador Franklin Ogunyemi, Consul for Trade and Investment at the Nigerian Consulate in New York, who engaged U.S. stakeholders on practical investment opportunities in Nigeria.
