U.S. deepens trade, investment ties with Nigeria, others

The United States is intensifying efforts to strengthen economic relations with Nigeria and other African nations through increased trade and private sector investment, according to U.S. Ambassador to Nigeria, Richard Mills.

Speaking in Lagos during a policy address and fireside chat at the Lagos Business School, with the theme: “Toward a Robust U.S.-Nigeria Commercial and Investment Partnership,” Mills outlined Washington’s renewed focus on Africa’s economic potential.

He emphasised that the new U.S. administration under President Donald Trump is recalibrating its Africa strategy, notably through the State Department’s recently launched commercial diplomacy framework for sub-Saharan Africa — a move the ambassador described as a “new chapter in U.S.-Africa relations.”

“This strategy is built on a commitment to expanding economic opportunity, deepening commercial engagement, and fostering long-term mutual prosperity,” Mills said.

Highlighting the significance of Nigeria to U.S. interests, Mills noted that Nigeria is the United States’ second-largest trading partner in Africa, with bilateral trade in goods and services totalling approximately $13 billion in 2024. He also stated that U.S. foreign direct investment in Nigeria reached $6.5 billion in 2023 — a 5.5per cent increase from the previous year.