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From Sola Ojo, Abuja
Nigeria and the United States have renewed their commitment to strengthening bilateral trade and investment relations, despite recent adjustments in Nigeria’s tariff on U.S. goods.
At a high-level meeting held in Abuja, Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, hosted the outgoing US Deputy Ambassador, Richard M. Mills Jr. and the incoming US Consul General, Rick Swart, where critical business discussion took place.
Director, Press and Public Relations in the ministry, Dr Adebayo Thomas, noted that the meeting served as a platform to deepen economic cooperation, align commercial priorities, and review existing trade frameworks between the two countries.
According to him, Oduwole acknowledged the recent change in Nigeria’s tariff on U.S. imports from 14 percent to 15 percent, but assured that the country remains an attractive destination for American investors. “She highlighted the significant volume of duty-free machinery, equipment and services entering Nigeria from the US, describing the trade relationship as mutually beneficial.
“She also pointed to the ongoing business-to-business engagements stemming from the commercial investment partnership launched on June 24, which she said were progressing steadily and would culminate in a ministerial meeting scheduled for November 20,” he added.
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He said the minister further emphasised Nigeria’s strategic focus on food sovereignty, digital trade and economic competitiveness under President Bola Tinubu’s “Nigeria First Policy and Intervention” agenda.
According to her, recent monetary, fiscal and trade reforms have already begun to stabilize the economy and stimulate growth.
Deputy Ambassador Mills remarked on the United States’ commitment to expanding its trade relations with Nigeria, which he described as Africa’s largest commercial market.
He praised existing US investments in Nigeria and expressed optimism that the incoming Consul General would build on this momentum.
Swart, who officially assumes the role of US Consul General in Nigeria, pledged to uphold the principles of free and fair trade. He also restated the US government’s commitment to expanding bilateral economic opportunities in line with strategic objectives from Washington.
