Monday, September 25, 2023

Nigeria’s progress on expanding economic opportunity slower than expected: U.S.

“A people filled with so much potential but with too few opportunities,” the U.S. official noted.

• September 19, 2023
Nigerian masses
Nigerian masses used to illustrate the story

Adewale Adeyemo, the U.S. Deputy Secretary of the Treasury, delivered a stark assessment of Nigeria’s economic progress on Monday, asserting that the nation’s growth in expanding economic opportunities has fallen short of expectations.

“Nigeria is a different country than the one we left more than forty years ago, but progress on expanding economic opportunity has come more slowly than any of us hoped,” he said during his address at the Lagos Business School.

Mr Adeyemo acknowledged Nigeria’s immense potential but lamented the dearth of opportunities that have hindered its growth.

“A people filled with so much potential but with too few opportunities,” the U.S. official noted.

Mr Adeyemo’s speech, delivered during his official visit to Nigeria, emphasised the United States’ desire to play an instrumental role in catalysing economic reforms in the nation.

“I am here to talk about how the United States can be your partner in accelerating progress on the economic reforms,” he declared.

Mr Adeyemo pointed out that his visit to Nigeria reinforced its importance to the U.S. government.

“I am here because we know that a strong and prosperous Nigeria is not only good for you, it is also good for the United States of America,” he said.

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