Nigeria and the United States have reaffirmed their commitment to deepening bilateral economic relations amid a shifting global trade landscape. This renewed pledge came during a high-level meeting held at the Federal Ministry of Industry, Trade and Investment (FMITI) between Hon. Minister Dr. Jumoke Oduwole, outgoing U.S. Ambassador Richard M. Mills Jr., and incoming U.S. Consul General to Nigeria, Rick Swart, on August 4, 2025, in Abuja.
The discussions focused on aligning both countries’ commercial priorities, enhancing trade and investment frameworks, and driving forward existing partnerships.
Dr. Oduwole acknowledged a marginal adjustment in Nigeria’s tariff on trade with the United States — from 14% to 15% — while emphasizing that Nigeria remains a highly attractive destination for U.S. investors. She highlighted the duty-free access to critical U.S. machinery, equipment, and services, describing the trade relationship as mutually beneficial.
> “We are seeing tangible outcomes from the U.S.-Nigeria commercial investment partnership launched on June 24th. These engagements will continue with momentum, culminating in a ministerial meeting on November 20th,” Dr. Oduwole noted.
She reaffirmed Nigeria’s dedication to food sovereignty, digital trade, and industrial competitiveness, all of which are aligned with President Bola Ahmed Tinubu’s "Nigeria First Policy and Intervention" agenda. The Minister also cited ongoing monetary, fiscal, and trade reforms as essential in stabilizing the economy and laying the foundation for sustainable growth.
In his farewell remarks, Ambassador Mills praised Nigeria as Africa’s largest commercial market and reaffirmed the U.S. government's intent to strengthen trade ties, noting the depth of American investments across various sectors.
> “Nigeria continues to be a critical partner. The U.S. remains committed to fostering a trade relationship that supports economic growth for both nations,” said Mills.
Incoming Consul General Rick Swart echoed this sentiment, pledging to champion free and fair trade principles, with an emphasis on expanding business opportunities between Nigeria and the United States. He stressed the importance of maintaining a robust trade dialogue that serves mutual strategic interests.
The meeting concluded on a positive and forward-looking note, as both nations committed to bolstering commercial engagement with renewed energy and shared priorities.
---
Photo Caption:
The Hon. Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole (middle), Permanent Secretary Amb. Nura Rimi (3rd right), outgoing U.S. Ambassador Richard M. Mills Jr. (standing with HM), and incoming U.S. Consul General Rick Swart during their visit to FMITI on Monday, August 4, 2025, in Abuja.
---
📰 Stay connected with Stone Reporters News for timely updates on trade, economy, and international relations:
🌐 www.stonereportersnews.com
📢 Facebook: Stone Reports
Add comment
Comments