U.S Promises to Support Nigeria’s Investment Push

Nigeria’s ambassador to the United States Ade Adefuye speaks to U.S. Under Secretary for Political Affairs Wendy Sherman at a meeting in Abuja, Nigeria in 2013. [AFP/GETTY IMAGES]

ADF STAFF

Nigeria and the United States have pledged to become more involved as economic partners in the coming years, officials said at a March 2014 meeting in Washington.

The goal is to raise the level of American foreign development investment in Nigeria to $8 billion annually, up from $5.4 billion in 2012, the Vanguard of Nigeria reported.

Ade Adefuye, the Nigerian ambassador to the United States, said the two countries also are working to combat the extremist group Boko Haram, which continues to terrorize parts of northeast Nigeria.

Adefuye said the Nigerian Embassy is courting foreign investors in the country’s infrastructure, as well as its agriculture, power, communication and aviation sectors. Getting more foreign investment is part of the country’s Vision 2020 program, which aims to make Nigeria one of the world’s top 20 economies by 2020.

“We want to diversify our economy to the non-oil sectors in order to ensure that the country achieves its objectives as regards Vision 2020,” Adefuye said.

Twelve northern state governors and a deputy governor also attended the meeting at the White House. The meeting was organized by the U.S. government, through the U.S. Institute of Peace, to explore how the United States can work with state governments in northern Nigeria to address the Boko Haram insurgency and socio-economic underdevelopment in the region.

U.S. National Security Advisor Susan E. Rice attended the meeting and drew special attention to the importance of Nigeria’s 2015 elections, the role that governors can play in countering corruption, and how the U.S. remains committed to partnering with Nigeria to address shared challenges, the White House reported.