Tuesday, November 29, 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)

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