The United States has applauded Nigeria’s efforts to bolster its economy and ensure sustainable growth and development.
David Greene, Chargé d’Affaires of the U.S. Embassy in Abuja, acknowledged the federal government’s efforts in an interview with journalists.
He said that although the federal government is putting measures in place to stabilise the nation’s economy, more should be done to create an environment that would attract investors.
Mr Greene observed that there has been great enthusiasm from American investors towards Nigeria, saying that such interest is a testimony to the commitment that the President Bola Tinubu administration has made towards strengthening the economy.
“We support the fact that the Tinubu administration is trying to create the fundamentals that will allow foreign direct investment, attract investors, and drive economic growth.
“We are also doing our part as the U.S. government to observe and understand the challenges, see how we could help, and presumably, talk up Nigeria a little bit in the global market and international markets,” said Mr Greene.
He assured Nigeria of the U.S. government’s commitment to doing all it could to draw investors to see the opportunities available and possibly rely on partner businesses.
He emphasised the need for the federal government to create an environment conducive for businesses to thrive, saying that as the largest economy in Africa with 60 per cent of its population under the age of 25, such an environment could contribute dramatically to transforming its economy.
“One of the things to note is that the President Bola Tinubu administration must create an enabling environment to address the challenges that are facing Nigeria.
“This is crucial so that business operators and investors will feel more able to take advantage of the opportunities that Nigeria presents.
“When you are talking about creating opportunities and helping in supporting Nigeria, last fiscal year, the U.S. provided 1.2 billion dollars to assist Nigeria across all areas.
“The U.S. government is investing a lot in Nigeria because of the importance of these issues and to help Nigeria overcome the challenges,” he added.
According to him, although the U.S. does not directly invest in Nigeria, its private sector companies’ investments are driven by the opportunity they find and the enabling environment.
Mr Greene said such companies are responsible for the inflow of cargo investment that has positioned Nigeria as the recipient of 25 per cent of all venture capital into Africa in 2022.
He identified the companies as Microsoft, Cisco, Meta Starlink, and Google, among others operating in Nigeria, saying they create jobs and sell products.