U.S. Ambassador Says U.S. Will Focus More on Trade with Africa Instead of Just Giving Aid

Peter Cholakov2 days ago

The United States Ambassador to Nigeria, Richard M. Mills Jr., said that the U.S. has started a new plan for how it works with countries in Sub-Saharan Africa. He said this plan will focus more on trade and business instead of just giving aid or help. He explained that this is the beginning of a new kind of relationship between the U.S. and African countries, especially Nigeria.

This change, according to the ambassador, will help create more economic opportunities, build stronger business partnerships, and bring long-term benefits to both the U.S. and Africa.

Ambassador Speaks at Business School Event

Ambassador Mills spoke about this new plan during a special discussion at the Lagos Business School. The event was called “Toward a Strong U.S.-Nigeria Commercial and Investment Partnership.”

The Vice Chancellor of Pan-Atlantic University, Professor Enase Okonedo, hosted the event. Professor Olayinka David-West, Dean of the Lagos Business School, gave the opening speech.

Strong Ties Between U.S. and Nigeria

Mills said the U.S. and Nigeria already have strong relationships, not just between governments, but also between people, businesses, and entrepreneurs.

He said trade between the U.S. and Nigeria is already large. In 2024, both countries traded goods and services worth almost $13 billion, making Nigeria the second-biggest U.S. trading partner in Africa.

When it comes to investments, the U.S. is also a major player. In 2023, the U.S. invested about $6.5 billion in Nigeria 5.5% more than it did in 2022.

Ambassador Mills said, “We are moving from just giving aid to building strong trade partnerships.” He said the U.S. now sees Nigeria as a rising country with more power and importance in the world.

Nigerian Startups Making Impact

He gave examples of successful Nigerian tech companies, Flutterwave, Andela, and Esusu that were started by young Nigerians who studied in the U.S. These companies show the close connections between the people of both countries.

Right now, about 20,000 Nigerian students are studying in the U.S., the highest number from any African country. In fact, Nigeria ranks 7th in the world for the number of students studying in the U.S.

Also, over 750,000 Nigerians live in the U.S., making Nigeria the African country with the biggest group of citizens living in America.

Plan to Grow Trade and Investment

Ambassador Mills said one of his main goals is to increase trade and investment between the U.S. and Nigeria.

To help make this happen:

The U.S. Department of Commerce signed a five-year agreement with Nigeria’s Ministry of Industry, Trade, and Investment.
This agreement is called the Commercial and Investment Partnership (CIP).
It focuses on three key areas: agriculture, digital economy, and infrastructure.
Nigeria is one of only five countries in Africa to have such an agreement with the U.S.

As part of the plan, both countries have created joint working groups. These groups will try to understand and fix problems that make it hard for businesses to trade or invest. They’ll also listen to advice from businesses and experts in the private sector to help make better decisions.

Tech Events and Support for Innovation

Last year, one of these working groups helped organize several important events. One of them was the Global Inclusivity and AI: Africa (GIAA) Conference held in Lagos in September.

At that event, Nigeria’s Minister of Communications, Dr. Bosun Tijani, announced that the government will provide a ₦100 million fund to support Nigerian startups working in Artificial Intelligence (AI). The goal is to encourage innovation and help grow local tech talent.

Also during the conference, Kashifu Inuwa, the head of the National Information Technology Development Agency (NITDA), said that NITDA is the main government partner for tech-related work in Nigeria. He shared that the agency has been working closely with the U.S. Consulate in Lagos for nearly two years.

Key People at the Event

Many important people in the tech and business world joined the event, including:

Olatunbosun Alake, Lagos State Commissioner for Science, Innovation, and Technology
Lauren Baker, Deputy Director, Office of Digital & Emerging Technology Services (U.S. Department of Commerce)
Lola Adekanye, Country Manager at the Centre for International Private Enterprise
Olumide Balogun, West Africa Director at Google.