The United States and Nigeria have reaffirmed their commitment to deepen trade and investment ties under the U.S.–Nigeria Commercial and Investment Partnership (CIP), a five-year framework designed to boost bilateral commerce and promote private sector–led growth.
The announcement came in a statement issued on Friday following the CIP ministerial meeting held in Lagos, co-chaired by U.S. Deputy Assistant Secretary for the U.S. Commercial Service, Bradley McKinney, and Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.
Speaking at the meeting, McKinney highlighted the progress achieved since the partnership’s launch.
“This ministerial meeting underscores significant advancements in the vital U.S.–Nigeria commercial and investment partnership,” he said. “Over the past six months, the Agriculture, Digital Economy, and Infrastructure Working Groups have engaged across government and industry and developed practical proposals to unlock trade and deepen the bilateral commercial relationship between the United States and Nigeria.”
Nigeria Encourages Investment Beyond Oil
Dr. Oduwole welcomed the U.S. delegation and encouraged American companies to invest in Nigeria’s priority sectors.
“We are pleased with the continued strong relationship with the United States, evidenced by this high-level engagement,” she said. “We welcome U.S. businesses to invest in our priority sectors and benefit from trading with Nigeria through to the African continent.”
She also stressed Nigeria’s focus on diversifying exports beyond oil. “A central priority for us is to accelerate non-oil export diversification and ensure that more Nigerian businesses can access U.S. markets competitively, sustainably, and inclusively,” Oduwole added.
Since the launch of the CIP working groups in June 2025, Nigeria has reportedly maintained momentum on business climate reforms, strengthening competitiveness and aligning industrial, trade, and investment policies to create a more predictable and investible economy.
Ongoing Consultations and Trade Figures
Officials from both countries confirmed that consultations will continue on a wide range of trade and investment issues, including expanding trade in goods and services and increasing investment flows to stimulate prosperity and job creation on both sides.
Currently, Nigeria is the United States’ second-largest trading partner in Africa, with two-way trade in goods and services nearing $13 billion in 2024. U.S. foreign direct investment in Nigeria reached $7.9 billion during the same period.