The United States and Nigeria have announced renewed efforts to strengthen their trade and investment relationship, with a strong emphasis on private sector–led economic growth. The development was disclosed in a statement issued on Friday by the United States Embassy in Nigeria.
The announcement followed the U.S.–Nigeria Commercial and Investment Partnership (CIP) Ministerial held in Lagos. The meeting was co-chaired by the U.S. Deputy Assistant Secretary for the Commercial Service at the Department of Commerce, Bradley McKinney, and Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.
The ministerial is part of ongoing high-level engagements under the CIP, a five-year framework designed to deepen bilateral commercial ties, expand two-way trade and investment, and promote sustainable economic growth driven by the private sector. During the meeting, both governments assembled an interagency delegation of experts in trade financing, promotion, and project development to evaluate priority reforms proposed by CIP Working Groups on Agriculture, Digital Economy, and Infrastructure.
The working groups made up of U.S. and Nigerian private sector leaders developed recommendations aimed at improving the business environment and removing barriers to trade and investment. McKinney said the meeting highlighted notable progress, adding that the proposals developed over the past six months were practical steps toward unlocking trade and deepening commercial engagement.
Oduwole praised the strong partnership between both countries and welcomed increased U.S. investment in Nigeria’s priority sectors. She noted that Nigeria is accelerating non-oil export diversification and expanding competitive access for Nigerian businesses to U.S. markets. She added that since the launch of the CIP Working Groups in June 2025, Nigeria has sustained momentum on business climate reforms and policy alignment.
Nigeria is currently the United States’ second-largest trading partner in Africa, with bilateral trade valued at nearly $13 billion in 2024, while U.S. foreign direct investment in Nigeria reached $7.9 billion, a 25.2 percent increase from 2023.
