Friday, October 7, 2022

U.S. pledges to strengthen commercial engagement with Nigeria

The United States says it is committed to strengthening commercial engagement with Nigeria through African Development Bank (AfDB).

• September 23, 2022
U.S. Department of Commerce; AfDB
U.S. Department of Commerce and African Development Bank (AfDB)

The United States says it is committed to strengthening commercial engagement with Nigeria through African Development Bank (AfDB).

Ashley Ndir, senior commercial officer at the U.S. Department of Commerce’s liaison office of AfDB, said this on Wednesday in Lagos.

She spoke at the first-ever Discover AfDB-Nigeria Business Spotlight held at Microsoft Office in Lagos.

“The U.S. Commercial Liaison Office to the AfDB’s objective is to assist U.S. companies in navigating public and corporate procurement opportunities at the bank and expand understanding of the resources of the AfDB’s private sector financing,” stated Ms Ndir. “We want to see more American firms active in doing business with the AfDB here in Nigeria as well as across the continent. Commercial engagement with Nigeria would improve the economy and social businesses, so the importance of this event cannot be overemphasised.”

She noted that the United States was the largest non-regional shareholder at AfDB, with 54 operations in their Nigeria portfolio valued at $4.5 billion.

“Our vision is to boost the economy and social businesses in Africa, especially in Nigeria, where we have a strong relationship,” she noted. “This is one of the many steps we take in ensuring that the bilateral relationship between both countries are strengthened because Nigeria is a key partner for the U.S.”

Lamin Barrow, AfDB’s director-general at the Country Department, outlined the bank’s strategy, key initiatives and financing activities to support the country’s economic and social progress.

“The bank’s country strategy paper for Nigeria seeks to promote structural transformation and inclusive growth through two mutually reinforcing pillars: supporting infrastructure development and promoting social inclusion through agribusiness and skills development,” Mr Barrow explained.

He added, “These priority areas provide an opportunity for the bank to support infrastructure development and the creation of an enabling business environment to catalyse private sector investments in the productive sectors of the economy.”

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Anti-Corruption

EFCC arraigns Sapphire Scents’ MD Adewale Aladejana over N12 million fraud

Among his list of clients are President and First Lady Muhammad and Aisha Buhari, Davido and former Victoria Secret model, Oluchi.

Politics

2023: Mimiko urges Nigerians to support candidates with pro-masses policies

The former Ondo governor said the ‘right leaders’ would birth good governance and usher in development for every Nigerian.

flood

Hot news Home top

24 dead as flood, rainstorm affect 18,245 in Katsina: SEMA

A total of 16,625 houses were damaged by the disasters, and 1,620 farmlands submerged in Kafur, Danja and Ingawa LGAs.

Kano

NESREA hands over 25 seized exotic birds to Kano zoo

The birds were smuggled into the country through Niger Republic and seized by Nigeria customs Service.

APC and PDP flags

Politics

2023: 16 APC ward executives defect to PDP in Sokoto

The defectors said they will work closely with the PDP leadership at all levels to ensure its success during the 2023 polls.

Nigerian Exchange

Economy

Stock market gains N50 billion to close week positive

The gain was driven by price appreciation in large and medium stocks.