Richard M. Mills Jr., the U.S. ambassador to Nigeria, has emphasised the expanding economic ties between the United States and Nigeria, pointing out that in 2024, bilateral trade between the two countries was close to $13 billion.
Speaking at a Lagos Business School event themed “Towards a Robust U.S.-Nigeria Commercial and Investment Partnership,” Ambassador Mills noted that Nigeria is the United States’ second-largest trading partner in Africa, underscoring the vast potential for further growth and investment.
He also announced the launch of the U.S. Department of State’s new Commercial Diplomacy Strategy for Sub-Saharan Africa, designed to expand economic opportunities and deepen commercial engagement between the U.S. and African nations.
“Nigeria is one of only five African countries with which the U.S. has signed a Commercial and Investment Partnership (CIP) agreement,” he stated. “The CIP prioritizes three key sectors: agriculture, the digital economy, and infrastructure.”
According to the ambassador, the partnership aims to eliminate barriers to trade and investment, create jobs, and unlock new opportunities for both countries. “We are making a shift from aid to trade. The U.S. is engaging African nations as capable commercial partners,” he said.
Ambassador Mills noted that the U.S. Mission in Nigeria has been actively working to strengthen economic ties, including hosting the Global AI Conference in Lagos in September 2023. He added that over 80 major U.S. companies currently operate in Nigeria, and efforts are underway to increase American investments in the country.
His visit to Lagos Business School also highlighted the strong collaboration between the U.S. Mission and the university, as he emphasized the importance of a stable, transparent, and business-friendly regulatory environment to drive investment and foster economic growth.
