FG Pledges To Strengthen Trade Ties With US

The federal government has reaffirmed its commitment to strengthening trade and investment relations with the United States to boost economic growth and development.

The commitment was made during a meeting between the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the United States Consul General to Nigeria, Rick Wart, in Abuja on Tuesday, according to a statement that was issued by the director of Information af the Finance Ministry, Mohammed Manga.

Represented by the ministry’s permanent secretary Lydia Shehu Jafiya, the meeting highlighted the historic and strategic bilateral relationship between Nigeria and the United States.

The minister emphasised that Nigeria values its partnership with the United States and will explore new frontiers to enhance investment opportunities, promote innovation, and contribute to sustainable development in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration.

Edun reiterated the federal government’s commitment to creating an enabling environment for foreign direct investment to unlock investment opportunities in the country.

He added that improved cooperation between Nigeria and the United States aligned with President Bola Tinubu’s economic reform agenda, which prioritises private sector participation, fiscal sustainability, and inclusive growth.

US Consul General, Richard Swart commended the federal government for its ongoing reform initiatives and reaffirmed the United States’ commitment to supporting Nigeria’s economic development.

He stated that the United States and Nigeria have built a resilient and enduring partnership. “We will continue to explore new opportunities for collaboration in trade, investment, and capacity building. Our goal is to support Nigeria in achieving broad-based economic growth and improving the lives of its citizens,” Swart said.

He said the Consul General acknowledged the importance of fostering transparent and investor-friendly policies, as well as creating an enabling environment for the U.S. businesses to thrive in Nigeria.

Both parties expressed optimism about future engagements and pledged to work towards deepening bilateral economic relations, enhancing trade flows, and attracting increased foreign direct investment in Nigeria.

As both nations look to deepen their economic partnership, the prospects for increased foreign direct investment, improved trade flows, and sustainable development in Nigeria appear promising.