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US, Nigeria Tie Under BNC Will Foster Trade, Investment—FG

By Dipo Olowookere

Minister of Industry, Trade and Investment Mr Okechukwu Enelamah, has disclosed that the collaboration between the US and Nigeria under the Bi-National Commission (BNC) will further foster trade and investment relations between the two countries.

He further observed that the outcomes of Nigeria’s recession experience include learning to improve and have a more sustainable approach to resolving and translating this experience into opportunities.

Mr Enelamah made these comments on Monday at the US-Nigeria Business Dinner at the Transcorp Hilton Hotel in Abuja.

The dinner was organised by the Nigerian Investment Promotion Commission (NIPC) and the Federal Ministry of Industry Trade and Investment (MITI), in partnership with the US Department of Commerce and the American Business Council.

The dinner was part of the events organized in the wake of the Nigeria-US BNC meeting with the mission is “to build partnerships for tangible and measurable progress on issues critical to United States’ and Nigeria’s shared future” and the US Nigeria commercial and investment dialogue – a government to private sector initiative that was launched this week.

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The US Deputy Secretary of State John Sullivan, Assistant Secretary of the department of Commerce, Skip Jones, the US Ambassador to Nigeria Stuart Symington, the Consular- General John Bray, key representatives of the US Mission, the Nigerian Ministers of Foreign Affairs, Mr Geoffrey Onyeama, Minister of Industry trade and Investments, top government functionaries, CEOs and representatives of Nigerian Companies and American Business Council attended the event.

President of the America Business Council and Managing Director of GE, Mr Lazarus Angbazo, in his goodwill message, stressed the business opportunities that Nigeria presents and is convinced that “in Nigeria, there’s a genuine openness and optimism to collaborate with the United States and this I have witnessed across different administrations.”

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He added that US is a national partner for Nigeria and one with long standing commitment to the country. As such, the strengthening of this bi-national relationship portends a positive development for business operating in Nigeria.

The American Business Council is the voice of American Business in Nigeria and the American Chamber of Commerce. Over the years, it has become a key advocacy platform with the Nigerian public and private sectors.

Among other recent engagements, the Council organized strategic discussions with the Central Bank Governor, the Minister of Industry Trade and Investment and the Minister of Budget and Planning, and shared insights and inputs on major policy decisions, including the Economic Growth and Recovery Plan, the Improving the Ease of Doing Business Initiative and CBN’s currency interventions. The Council is working continually with stakeholder groups to engage regulatory agencies and resolve critical challenges around regulatory reforms.

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Margaret Olele, CEO of the Council noted that American Business Council is committed to working with partners -government and stakeholders to drive sustainable socio – economic reforms and improve the ease of doing business in Nigeria.

“This partnership with the Nigerian Investment Promotion Council is a demonstration of this.

“In the coming weeks, American Business Council will release the results of the first comprehensive business survey of US firms operating in Nigeria which will demonstrate the significant impact that US trade and investment has on this economy,” she added.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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