Anthony Blinken, the US Secretary of State, has reaffirmed US investment in Nigeria’s economy.
He revealed this during a press conference on Tuesday in Abuja following his meeting with President Bola Tinubu at the Presidential Villa.
While touring African countries, Bliken stated that American businesspeople and investors are keen to collaborate and make investments in Nigeria, particularly in the technology industry.
“American businesses and entrepreneurs are keen to collaborate and make investments in Nigeria’s economy, especially in the technology sector.
“Tech giants have joined forces with Nigerian partners to support the President’s recently launched One Million Digital Jobs Initiative.”
In order to increase internet access, other businesses are involved in the installation of underwater cables using satellite technology. Nigeria’s upcoming startups are being nurtured at our tech incubators.
“Our venture capital firms aim to finance; therefore, we would like to collaborate to propel Nigeria’s technological revolution, which is generating employment.”
“In both of our countries, it’s growing innovations and growing businesses,” he declared.
Additionally, Bliken emphasized Nigeria’s important role in the development cooperation between the United States and the African continent due to its political and economic standing.
In order to take into account the new global dynamics and realities, he stated that the United States was trying to make sure that Africa has a greater say in UN decision-making.
We discussed a number of shared issues today, one of which was our emphasis on boosting opportunity and economic growth in this area. This is a location of tremendous dynamism and invention.
The US is dedicated to advancing sincere collaborations throughout the continent, addressing common issues, and realizing the potential and core goals of our peoples.
Nigeria is crucial to that endeavor since it is the largest nation, economy, and democracy in Africa.
Through a new alliance for learning cooperation, we are advancing scientific and technology interchange, environmental conservation, and blue economic development.
“This past September, at the UN General Assembly, the president declared, and I quote, ‘Africa is nothing less than the key to the future of the world.'”
However, Bliken stated that despite American desire for cooperation in enhancing bilateral ties with Nigeria, the nation must still address obstacles to trade.
According to him, Tinubu’s strategic initiatives to win back the trust of real investors in the country’s economy have been acknowledged by the United States.
“I believe it’s no secret that in order to truly realize the full potential, there are still some long-term obstacles that must be addressed.
“Tackling corruption and facilitating capital repatriation for foreign businesses will both draw transformative direct investment and move society in a transformative direction.
“I am aware that President Tinubu is concentrating on these issues, and we applaud his audacious economic changes to stop fuel subsidies and unify the currency.
“We also acknowledge that these measures caused hardship for communities that were already at risk in the near run.
“I discussed some ways that the United States can help Nigerians while the government implements these crucial reforms and seek to safeguard individuals who might be adversely impacted in the near future again.”
According to Bliken, the government and American businesspeople are still investigating Nigeria’s enormous potential for reaching Africa, despite the country’s recognized difficulties.
According to him, private sector businesses are working with local organizations to make significant investments to guarantee that development was effected for the people, especially in the health sector.
“We have invested $8.3 billion in HIV prevention, care, and treatment over the last five years, reaching millions of Nigerians, and we will keep up this endeavor to strengthen the public health system.
Our collaboration is also enabling Nigerian institutions to lead the public health response in the region and innovate.
As members of the international coalition, we are spearheading climate action. Together with 30 other Atlantic nations, we’re supporting the advancement and beneficial application of artificial intelligence.
Because, as we’ve seen via these collaborations, we gain just as much from them as we do from any location or business we invest in, he explained.