The United States Ambassador to Nigeria, Richard M. Mills Jr., has said that trade between the US and Nigeria grew to nearly $13 billion in 2024.
He shared this at an event hosted by Lagos Business School with the theme “Towards a Robust U.S.-Nigeria Commercial and Investment Partnership.”
Ambassador Mills explained that Nigeria is now the second-largest US trading partner in Africa, showing the growing strength of economic ties between both countries.
He also announced a new US plan called the Commercial Diplomacy Strategy for Sub-Saharan Africa, aimed at boosting trade and business relationships with African countries.
According to him, “Nigeria is one of only five African countries with which the US has signed a Commercial and Investment Partnership agreement. The CIP focuses on agriculture, digital economy, and infrastructure.”
He added that the goal of the partnership is to remove trade barriers, attract investment, and create jobs in both countries. “We are making a shift from aid to trade. The US is engaging African nations as capable commercial partners,” Mills said.
The ambassador pointed out that the US Mission in Nigeria is working hard to build stronger business ties. He mentioned that the US hosted the Global AI Conference in Lagos in September 2023 to support innovation and technology development.
He also said that over 80 large American companies are already operating in Nigeria, and more US businesses are planning to invest in the country.
During his visit to Lagos Business School, Ambassador Mills praised the school’s partnership with the US Mission. He said a good business environment—one that is stable, open, and fair—is important to attract investors and grow the economy.
“We believe that with the right policies and cooperation, Nigeria and the US can achieve much more together,” he added.
