APA – Lagos (Nigeria)
The Nigerian-born United States (US) Deputy Treasury Secretary, Mr. Wally Adeyemo, has said that the US is highly interested in maintaining and increasing investments in Nigeria so as to strengthen international bonds between the two countries.
Mr. Adeyemo told business leaders in Lagos on Monday that one of Nigeria’s greatest opportunities is the fact that around three in five Nigerians are under the age of 25, creating the opportunity for Nigeria to reap a tremendous demographic dividend, “as the population of working people in this country grows”.
“In addition to being on the right side of demographics, Nigeria is also blessed with an array of resources.
“It is clear from my conversation with investors and foreign companies that they are eager to invest in Nigeria to help grow and diversify an economy that can meet your needs,” he said.
According to him, this newly built administration and the people he has met with from students to entrepreneurs, to major business leaders, all share a common understanding of the path forward that creates prosperity for the people.
“And I’m here to say the United States stands eager and ready to partner with the Nigerian people and government in your quest to build a better future,” he added.
The report by Arise Television news quoted the visiting US official as saying that Nigeria has had good relations with the US since the return of democracy that has profited students, investors, companies and all while making note of certain reforms needed to continue this relationship for creating equal opportunities.
While commending President Tinubu’s administration for taking difficult steps they took to establish the current state of the nation, he called for the establishment of a Foreign Direct Investment (FDI) framework, stamping out insecurity and corruption as well as articulating a fiscal policy and ensuring that establishing and eliminating these issues would help move the international relations between the US and Nigeria.
“Creating economic opportunity would require a government wide drive to address these fears by shining a light on corruption, holding people accountable and taking meaningful steps to improve the business climate.
“…taking simple steps like moving government functions online so Nigerians can apply for business licences and visas using their smartphones or computers will help improve services, productivity, and reduce opportunities for fees to go into (private) pockets rather than government coffers.
“The new government also has the ability to fight skepticism by making reforms that will allow Nigerian people to understand how federal, state and local resources are used,” he said.
He also stressed the need to create a more secure system in Nigeria that would be more beneficial and applauded the new government for working with the financial action task force to tackle money laundering.
“Our government stands ready to help work with them to take these steps as quickly as possible. Overall, President Biden and the Biden administration believe deeply in the importance of deepening the relationship with Nigeria because we know that ultimately it is in America’s interest as much as it is in Nigeria’s interest,” he added.
GIK/APA
US Deputy Treasury Secretary says foreign investors are eager to invest in Nigeria
