US Empowers Nigerian Businesses To Benefit From AGOA

A statement from the US embassy in Abuja said the Government has taken more steps to empower Nigerian businesses to benefit from the opportunities presented by the US-initiated African Growth Opportunity Act (AGOA).

Indications of this development emerged during a workshop organised by the US Agency for International Development (USAID) and Prosper Africa, a U.S. government Presidential-level national security initiative, in collaboration with the Office of the Vice President of Nigeria and critical Nigerian government institutions.

The AGOA programme allows eligible countries in sub-Saharan Africa to export 6,800 different products to the United States without paying tariffs or facing limits on the amount they can export.

The two-day workshop, held on October 21 and 22 in Lagos, was organised in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Nigerian Export Promotion Council (NEPC).

It provided valuable training to export-ready Nigerian businesses. It focused on agriculture, manufacturing, textile, and apparel businesses and had customs and trade officials in attendance.

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Over 200 participants learned about the requirements for benefiting from AGOA, strategies for export growth, and practical guidance on improving the quality and competitiveness of Nigerian exports. They also received useful advice on navigating the U.S. market, enhancing trade capacity, and the benefits of strengthening trade relations between Nigeria and the United States.

Speaking at the apparel and textile sector workshop, USAID Nigeria Mission Director Melissa A. Jones said, “Diversifying Nigeria’s export base away from crude oil is extremely important if the country is to shield its economy from its current volatility. Nigeria is a critical partner in U.S.-Africa trade, and this AGOA workshop represents a unique opportunity for Nigerian businesses to increase their presence in the U.S. market.”

U.S. Consul General Will Stevens urged the participants to take full advantage of the preferential trade benefits under the African Growth and Opportunity Act.  “We remain as committed as ever to creating the conditions for a long-term, durable trade and investment relationship between the U.S. and Nigeria,” Consul General Stevens added.

The workshop was held in response to a request by the Nigerian government during the Bi-National Commission in April 2024 to train Nigerian businesses on how to effectively use and benefit from AGOA.

Prosper Africa coordinates across 17 US government agencies to increase trade and investment between the United States and the African continent, including supporting strategic efforts to increase AGOA utilisation at scale. Since June 2019, Prosper Africa, in collaboration with the US government, has closed trade deals valued at 509 million dollars.

The U.S. Government, through Prosper Africa, is also a sponsor of this year’s Lagos Fashion Week scheduled for October 23-27. Prosper Africa works with partners to leverage innovation, technology and collaboration, transforming U.S.-Africa trade and investment into dynamic, sustainable and empowering relationships.