Nigeria has renewed its appeal to American investors and the diaspora community to explore a growing range of opportunities in Africa’s largest economy, as the country deepens its trade and investment relationship with the United States. The Consul-General of Nigeria in New York, Ambassador Abubakar Jidda, made this call at the 14th Annual Trade and Investment Summit hosted by the Nigeria-USA Chamber of Commerce in Cleveland, Ohio.

Delivering a strong message of economic transformation, Jidda emphasized Nigeria’s readiness to attract global capital through sweeping policy reforms aimed at strengthening the private sector. “We are reforming, we are resilient, and we are ready,” Jidda declared, echoing President Bola Tinubu’s Renewed Hope Agenda, which is designed to reposition Nigeria as a globally competitive investment destination.

From Diplomacy to Tangible Progress

While acknowledging the historical ties between Nigeria and the United States, Jidda urged both governments and business leaders to move from “diplomacy to concrete deliverables.” He pointed to major reforms already undertaken by the Tinubu administration — including the removal of fuel subsidies, the unification of the foreign exchange regime, and the overhaul of tax and regulatory frameworks — as bold steps that underline the country’s commitment to economic renewal.

According to Jidda, these changes signal Nigeria’s determination to build a stable, business-friendly environment anchored on openness, transparency, and public-private sector collaboration. “No serious investor looking for long-term growth and attractive returns can afford to ignore Nigeria,” he asserted.

Nigeria as Africa’s Investment Gateway

Jidda positioned Nigeria not just as a standalone investment destination, but also as a strategic entry point into Africa’s vast and largely untapped markets. With a population exceeding 220 million — the largest on the continent — and preferential access to the $3.4 trillion African Continental Free Trade Area (AfCFTA), Nigeria offers immense opportunities for trade expansion, industrialization, and regional value chain integration.

He further noted that Nigeria’s geographical position, natural resource base, and tech-savvy youthful population make it a prime candidate for global investors seeking scalable solutions in Africa.

Ten Pillars of Trade and Investment Strategy

Outlining Nigeria’s investment strategy, Jidda listed ten core pillars underpinning the country’s approach to trade and economic diplomacy. These include:

1. Ease of Doing Business Reforms – streamlining regulatory procedures and cutting red tape;

2. Export Diversification – moving beyond oil to expand sectors such as agriculture, technology, and manufacturing;

3. Infrastructure Development – ongoing upgrades in energy, roads, ports, and rail;

4. Public-Private Partnerships (PPPs) – to leverage private capital for large-scale projects;

5. Digitized Business Registration – 24-hour online company registration systems;

6. Modernized Port Operations – digital tracking and cargo clearance systems;

7. Special Economic Zones – tax-friendly zones to attract foreign manufacturers;

8. Tax Incentives – holidays and exemptions to stimulate investment;

9. Visa-on-Arrival Policies – simplified entry for business travelers;

10. Diaspora Engagement – integrating remittances, skills, and capital from abroad.

These foundational pillars, he said, serve to reduce the cost and complexity of doing business in Nigeria and improve investor confidence.

Focus Sectors for Investment Growth

The Nigerian government continues to prioritize sectors with high growth potential and strong job creation capacity. According to Jidda, these include:

• Agribusiness – with large tracts of arable land and rising demand for food processing;

• FinTech – as Nigeria leads Africa in digital payments and financial inclusion;

• Renewable Energy – especially off-grid solar and waste-to-energy projects;

• Pharmaceuticals and Healthcare – a growing market spurred by domestic need;

• Real Estate and Urban Development – driven by population growth and urbanization;

• Tourism and Culture – under-explored areas of immense historical value;

• Maritime and Logistics – supported by major ports and new trade routes;

• Creative Industries – particularly film, music, fashion, and digital content.

He emphasized that American investors can play a vital role in these sectors by providing capital, technology, and market access.

Diaspora: Nigeria’s Strategic Economic Ambassadors

Jidda commended the Nigerian diaspora for their outsized contribution to national development through remittances, entrepreneurial ventures, and advocacy. He described them as “one of our greatest assets in advancing Nigeria’s global economic footprint,” and urged them to actively participate in trade and investment initiatives.

Remittances from Nigerians abroad have consistently exceeded $20 billion annually — more than foreign direct investment and oil exports combined — making the diaspora a cornerstone of the nation’s economic resilience.

Institutional Support for Investors

To further reassure prospective investors, Jidda underscored the role of Nigerian institutions in the U.S. and at home that are ready to provide support across the investment lifecycle. He specifically mentioned the Nigeria Sovereign Investment Authority (NSIA), the Infrastructure Corporation of Nigeria (InfraCorp), and the Development Bank of Nigeria (DBN) as key partners offering project financing, de-risking instruments, and technical support.

“Nigeria is a promise to be fulfilled,” Jidda concluded. “And that promise can only be achieved together.”

Summit Garners Strong Bilateral Engagement

This year’s summit — themed “Promoting U.S. and Nigerian Exports to Emerging Markets” — brought together a wide spectrum of stakeholders, including policymakers, trade experts, entrepreneurs, and financiers. It aimed to strengthen bilateral trade flows, deepen investment cooperation, and empower small businesses operating across borders.

In his opening remarks, Founding CEO of the Nigeria-USA Chamber of Commerce, Mr. Leo Kareem, reflected on the summit’s evolution since its inception in 2010, emphasizing its role in connecting business communities in both countries and unlocking new trade corridors.

Also present at the event was Nigeria’s Consul for Trade and Investment, Ambassador Franklin Ogunyemi, who led engagements with U.S. stakeholders on emerging trade opportunities, regulatory developments, and sector-specific partnerships.

Outlook: Turning Reforms into Results

With Nigeria pushing forward on a reformist path and repositioning itself for global capital flows, the key challenge remains translating policies into tangible investment outcomes. While macroeconomic instability and infrastructure gaps remain, Nigeria’s leadership believes that consistent reforms, strong institutions, and investor-friendly policies will deliver the long-term growth the country seeks.

For American investors, the message from Nigeria is clear: the door is open, the framework is evolving, and the time to engage is now.