U.S looks to deepen investments in Nigeria
The United States has shown willingness to deepen ties with Nigeria by increasing the number of investments. In a chat with CNBC Africa, Wally Adeyemo, the Deputy Secretary of the Treasury to the U.S Government, stresses that with the right macroeconomic environment, US businesses in Nigeria will double investment portfolios in the country.
Wed, 20 Sep 2023 14:26:50 GMT
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AI Generated Summary
- The United States is eyeing an expansion of investments in Nigeria by fostering a conducive macroeconomic environment to attract U.S. businesses.
- Wally Adeyemo emphasized the growth opportunities in Nigeria's market, with a projected doubling of the population by 2050, prompting U.S. companies to seek increased investments.
- The partnership between the U.S. and Nigeria aims to strengthen economic relations, support Nigeria in enhancing its macroeconomic framework, and unlock opportunities for business growth.
The United States has expressed a keen interest in deepening ties with Nigeria by increasing investments in the country. In an exclusive chat with CNBC Africa, Wally Adeyemo, the Deputy Secretary of the Treasury to the U.S Government, emphasized the importance of fostering a robust macroeconomic environment to attract more U.S. businesses to invest in Nigeria. Adeyemo highlighted the significant growth potential of Nigeria's market, with its population projected to double by 2050. He underscored the eagerness of U.S. companies to expand their investment portfolios in Nigeria and across Africa. The dialogue between the two nations aims to enhance people-to-people engagement, bolster economic relations, and pave the way for increased foreign direct investment. Adeyemo's visit to Nigeria witnessed discussions with key players in the banking and tech sectors to glean insights on improving the macroeconomic landscape for businesses. The U.S. aims to support Nigeria in building a stable economic framework, attracting more investments, and nurturing opportunities for business growth.
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