U.S., Nigeria Strengthen 5-Year Trade Partnership
U.S., Nigeria Strengthen 5-Year Trade Partnership
The United States and Nigeria have reaffirmed their commitment to the U.S.–Nigeria Commercial and Investment Partnership (CIP). This five-year framework aims to drive private sector-led growth and strengthen bilateral commerce.
The announcement followed a high-level ministerial meeting in Lagos focused on deepening economic ties.
U.S. Deputy Assistant Secretary Bradley McKinney and Nigeria’s Trade Minister, Dr. Jumoke Oduwole co-chaired the session. Both leaders emphasized the partnership’s role as a vital tool for economic expansion.
They reviewed progress since the initiative began, focusing on turning high-level dialogue into tangible commercial value.
McKinney noted that the partnership has successfully transitioned from conceptual planning to active execution. He highlighted that various working groups have been active over the past six months in key sectors like agriculture and infrastructure.
These groups have collaborated with stakeholders to identify and remove persistent trade bottlenecks.
Emphasizing the progress made, McKinney stated “This ministerial meeting underscores significant advancements in the vital U.S.–Nigeria commercial and investment partnership.
Over the past six months, the Agriculture, Digital Economy, and Infrastructure Working Groups have engaged across government and industry and developed thoughtful, practical proposals to unlock trade and deepen the bilateral commercial relationship between the United States and Nigeria.”
Minister Oduwole urged American companies to increase their investments in Nigeria’s priority sectors. She noted that high-level engagements reflect the growing interest of U.S. businesses in the Nigerian market.
She also described Nigeria as a strategic gateway for investors looking to access the wider African continent.
A primary goal for the Nigerian government remains the diversification of its economy away from oil. Oduwole stressed the importance of accelerating non-oil exports to ensure global competitiveness. The partnership is expected to help Nigerian products gain more sustainable and reliable access to U.S. markets.
The Minister highlighted major collaborations, including new agreements between Nigerian airlines and Boeing for fleet maintenance and expansion. These deals are expected to save the country millions of dollars and bolster the local aviation sector. She credited ongoing business reforms for improving investor confidence and national competitiveness.
In closing, both nations agreed that success depends on turning recommendations into measurable economic outcomes. With bilateral trade reaching $13 billion in 2024, the focus remains on building a transparent regulatory environment.
This cooperation signals a shared vision for long-term industrial value and prosperity.
