The United States and Nigeria have launched a new five-year U.S.-Nigeria Commercial and Investment Partnership (CIP) aimed at strengthening bilateral trade, attracting investment and driving private sector–led growth.
The initiative was underscored at a ministerial meeting in Lagos co-chaired by U.S. Deputy Assistant Secretary for the U.S. Commercial Service, Bradley McKinney, and Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole. The meeting convened senior government officials and private sector leaders to assess proposed reforms developed by CIP Working Groups on Agriculture, the Digital Economy and Infrastructure.
During the session, the working groups presented strategies designed to improve the business climate, reduce trade barriers and enhance Nigeria’s attractiveness to investors. McKinney described the proposals as practical and results-oriented, noting that their implementation could deepen bilateral trade ties and unlock new economic opportunities for businesses in both countries.
Oduwole reaffirmed Nigeria’s commitment to expanding non-oil exports and improving the global competitiveness of local enterprises. She said the government is prioritising sustainable and inclusive access for Nigerian businesses to U.S. and international markets, while pursuing reforms to make the economy more predictable and investment-friendly.
Also in attendance were U.S. Mission Chargé d’Affaires, Keith Heffern, and Nigeria’s Permanent Secretary of the Ministry of Industry, Trade and Investment, Ambassador Nura Rimi.
The partnership is expected to provide a structured platform for ongoing dialogue on trade and investment, promote two-way investment flows and support long-term economic growth in both countries.
Bilateral trade in goods and services between Nigeria and the United States reached nearly $13 billion in 2024, while U.S. foreign direct investment in Nigeria rose by 25 per cent to $7.9 billion, positioning the United States as one of Nigeria’s leading foreign investors.
