US Backs Buhari’s Economic Recovery Agenda

United States Deputy Assistant Secretary (DAS) of Commerce, Seward L. Jones, has expressed optimism about Nigeria’s economic prospects as the country moves out of recession.

Hosting over 350 American and Nigerian firms at the US Commercial Service’s annual Networking with the USA (NUSA) Appreciation Forum and International Partner Award ceremony last week, Jones, who oversees the Middle East and Africa (MEA) region, observed that the United States was confident that Nigeria’s economic outlook would remain positive, with further diversification from crude oil and increased fiscal transparency.

“We understand that the commodity super cycle and the precipitous drop in oil prices brought about a fiscal challenge for the Nigerian government, so we strongly support President Buhari’s drive to explore practical ways of fully diversifying the economy.

“Nigeria is the second largest destination in Africa for US private direct investment, so we are ready and willing to support economic reform efforts,” Jones said.

In his remarks, the US Consul General, Mr. F. John Bray, also affirmed the strong interest by US firms in Nigeria. He noted that “President Trump’s Business Advisory Council for Doing Business in Africa (PAC-DBIA) has made it clear that having success in the Nigerian market is foremost on their agendas.”