US At 250: Ensure Policy Consistency For More American Trade, Investment, Experts Urge Nigeria
As the United States marked its 250th Independence Anniversary on July 4, stakeholders in Nigeria’s business, diplomatic, and policy circles have highlighted the deepening economic ties between the two nations, stressing that stronger institutions, policy consistency, and trust remain critical to unlocking more bilateral trade and investments.
The anniversary, which commemorates America’s founding in 1776, comes at a time when economic relations between the two countries are increasingly shifting from aid-driven engagements to trade, innovation, and private-sector partnerships.
Experts said this transition is already visible in sectors such as technology, healthcare, finance, energy, agriculture and digital infrastructure, where American firms continue to play a major role in Nigeria’s economy.
Speaking on the US Independence anniversary and its relation with Nigeria, Board member of the American Business Council (ABC) Nigeria, Adeoti Adebisi, said American companies remain among Nigeria’s oldest and most significant foreign investors, adding that their impact extends far beyond capital injection.
According to him, “American companies are among the largest and longest-standing investors in Nigeria. Their contribution goes far beyond capital.”
He noted that U.S. firms operate across technology, energy, healthcare, manufacturing, financial services, logistics, agriculture, consumer goods and entertainment, creating thousands of direct and indirect jobs.
Adebisi added, “Bottom line: American companies are helping Nigeria create jobs, build skills, strengthen institutions, improve productivity, and integrate more deeply into the global economy.”
He disclosed that U.S. foreign direct investment (FDI) in Nigeria stood at about $6.5 billion in 2024, with some estimates putting the figure closer to $7.9 billion following recent inflows.
He further stated that bilateral trade between both countries reached approximately $13 billion in 2024, making Nigeria America’s second-largest trading partner in Africa.
While noting that China dominates Nigeria’s infrastructure financing, Adebisi said American investments are largely private-sector-driven and focused on technology, healthcare, manufacturing and financial innovation.
However, he identified foreign exchange volatility, regulatory uncertainty, multiple taxation, poor infrastructure, insecurity and slow judicial processes as major concerns for U.S. investors.
“Investors do not necessarily demand perfection; they demand predictability,” Adebisi said.
He urged Nigeria to sustain exchange rate reforms, simplify tax administration, modernise ports, improve security and accelerate digital governance.
Also speaking, managing director/chief executive officer of Citibank Nigeria and president of the American Business Council, Nneka Enwereji, said American companies have been instrumental in building industries in Nigeria, not merely participating in them.
“American companies have been long-standing partners in Nigeria’s economic development, and their contribution goes far beyond capital. They are investing across critical sectors — from finance, energy and manufacturing to technology and consumer goods — and in doing so, they are helping to build industries, not just participate in them,” she said.
Enwereji estimated historical U.S. investments in Nigeria at over $8 billion, noting that what distinguishes American capital is its long-term nature and adherence to governance and compliance standards.
