Nigeria, US Deepen Trade Ties, Expand Private Sector Opportunities

The Nigerian and the United State (US) governments have deepened trade ties to expand opportunities for private sector- led growth under commercial and Investment partnership framework.

A statement issued on Friday by the US Embassy in Abuja said that this development emerged when US deputy assistant secretary for Commercial Service at the U.S. Department of Commerce, Bradley McKinney and Nigeria’s minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, co-chaired the US-Nigeria Commercial and Investment Partnership (CIP) Ministerial in Lagos.

The meeting marked a continuation of high-level engagements under the CIP, a five-year framework designed to strengthen bilateral commercial ties, expand two-way trade and investment, and advance private sector–led economic growth.

The statement noted that at the Ministerial, the two governments convened an interagency delegation of trade financing, trade promotion, and project development experts to review priority reforms recommended by the three CIP Working Groups—Agriculture, Digital Economy, and Infrastructure—comprising US and Nigerian private sector leaders.

These proposed reforms are aimed at delivering tangible, long-term improvements to the business environment and removing barriers to trade and investment as Nigeria is currently the United States’ second-largest trading partner in Africa, with two-way trade in goods and services totaling nearly $13 billion in 2024.

The United States also remains one of Nigeria’s leading foreign investors, with US foreign direct investment reaching $7.9 billion in 2024—a 25.2 percent increase from 2023.

According to Deputy Assistant Secretary McKinney “This ministerial meeting underscores significant advancements in the vital U.S.-Nigeria commercial and investment partnership.”

The US minister said further that “over the past six months, 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 applauded the continued strong relationship with the United States, evidenced by the high-level delegation visit from Washington and welcomed US businesses to invest in the CIP’s priority sectors and “benefit from trading with Nigeria through to the African continent.”

She emphasized “a central priority to accelerate non-oil export diversification and to ensure that more Nigerian businesses can access U.S. markets in a way that is competitive, sustainable, and inclusive.”

Since the launch of the CIP Working Groups in June 2025, the Ministry of Industry, Trade and Investment has “sustained momentum on business climate reform, strengthened competitiveness, and advanced investment, industrial, and trade policy alignment and implementation … laying the foundations for a more predictable, investible economy and creating stronger conditions for this partnership to deliver tangible outcomes,” she added

The CIP Working Groups were joined by senior US officials, including US Mission Chargé d’ Affaires Keith Heffern; US Department of Agriculture Associate Administrator for the Foreign Agricultural Service, Jason Hafemeister; and US Trade and Development Agency Regional Director for sub-Saharan Africa, Heather Lanigan.

Nigerian government participation included the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Ambassador Nura Rimi; and Director of Investment at the Federal Ministry of Industry, Trade and Investment, Gertrude Orji.

Under the CIP, the United States and Nigeria will continue consultations on a wide range of trade and investment issues, explore ways to expand trade in goods and services, and encourage increased investment flows between both countries to further drive prosperity, growth, and jobs creation on both sides of the Atlantic.

Nigeria benefits by trading and investing with US companies that are known for delivering world-class quality, efficiency, and effectiveness in their products and services, creating mutual growth through doing business with the most competitive American businesses on Earth.