The United States government has restated its commitment to economic growth and stability in Nigeria. US Chargé d’Affaires in Nigeria, David Young, who made the remark at a Nigerian-American Chamber of Commerce Conference on SME Financing and Franchising, stressed that America shared Nigeria’s goals for a prosperous economy.

Young, in a statement issued by the US Embassy in Abuja, said the US had provided more than half a billion dollars in annual assistance to Nigeria in the areas of health and security, adding that it was also increasingly focused on the issues of economic stability and growth for the country.

“We recognise that our shared health and security goals depend on a prosperous economy,” Young stated. He recalled that at the U.S. Africa Business Forum two weeks ago in New York, President Barrack Obama said: “Wherever I’ve gone, from Senegal to South Africa, Africans insist they don’t just want aid, they want trade.

“They want partners, not patrons. They want to do business, and grow business and the United States is determined to be that partner, for the long term.”

He recalled former Ambassador James Entwistle’s frequent reminders to Nigeria that the relationship between the two countries was, indeed, a partnership, in which the United States didn’t do things for Nigeria, but with Nigeria.

He, therefore, highlighted the US’ support for Africa’s economic prosperity under President Obama, including renewal by Congress of the Africa Growth and Opportunity Act, AGOA, for another decade.

Other important steps taken by the United States, according to him, include the launching of Trade Africa and Power Africa, creating the Doing Business in Africa campaign and increasing commitments from the US Export-Import Bank, Overseas Private Investment Corporation, OPIC, and the Millennium Challenge Corporation, MCC.

The 2016 Nigerian-American SME Financial and Franchising Conference is a bilateral trade and investment advancement initiative organised in collaboration with the Economic Section of the United States Embassy in Nigeria.


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