- Nigeria, U.S. Strengthen Economic Collaboration Under 5-Year Trade Pact
- To Boost Agriculture, Digital Trade, Infrastructure Investment
- Brad McKinney said both countries are committed to moving the partnership beyond dialogue to tangible outcomes
Nigeria and the United States have agreed to deepen economic collaboration in agriculture, the digital economy and infrastructure as part of efforts to expand bilateral trade over the next five years, Eko Hot Blog reports.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this at the second ministerial meeting of the Nigeria–U.S. Commercial and Investment Partnership (CIP) held in Lagos.
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She said Nigeria’s key priority under the agreement is accelerating non-oil export diversification while ensuring that Nigerian businesses gain competitive, sustainable and inclusive access to U.S. markets.
The CIP, signed in July 2024, is a five-year framework designed to strengthen trade and investment ties between both countries. Oduwole explained that the partnership would be driven largely by close collaboration with the private sector, focusing on infrastructure, agriculture and digital technology, areas she described as strengths for both economies.
According to her, the collaboration is structured to attract investment into Nigeria while also enabling U.S. businesses to benefit from trading opportunities in the country. She added that the initiative would support Nigerian companies seeking global market access, whether in goods or services, in ways that strengthen infrastructure and remain mutually beneficial.
Oduwole noted that the three priority sectors were proposed by the organised private sector and align with the ministry’s non-oil diversification agenda. She reaffirmed the government’s commitment to supporting Nigerian businesses to scale globally, particularly in services, technology and agriculture, leveraging U.S. expertise in these fields.
She also revealed that her ministry, in collaboration with the Ministry of Finance, is reviewing tariffs as part of broader efforts to modernise trade policy. The exercise, she said, aims to curb food inflation, improve access to critical inputs, strengthen domestic value chains and enhance industrial competitiveness.
“These measures are being implemented strategically to support local production, boost economic resilience and create more predictable conditions for trade and investment, as Nigeria works towards building a $1 trillion economy,” Oduwole said.
On his part, Deputy Assistant Secretary for the U.S. Commercial Service at the U.S. Department of Commerce, Brad McKinney, said both countries are committed to moving the partnership beyond dialogue to tangible outcomes, adding that the Lagos ministerial meeting signalled steady progress towards that goal.
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