Business leaders, trade experts, and government officials convened in Abuja on Thursday for a high-level networking workshop focused on strengthening trade ties between the United States and Africa.
Organised by the US-Africa Trade Commission, the event provided a platform for discussions on investment opportunities, market access, and regulatory hurdles affecting bilateral trade.
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Held under the theme “Enhancing U.S.-Africa Trade & Investment Through Strategic Partnerships”, the workshop explored strategies for deepening economic engagement, with Nigeria positioned as a central player.
The event featured keynote speeches and presentations on trade policies, regulatory compliance, and export opportunities, particularly for Nigerian entrepreneurs seeking access to the US market.
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Nigeria’s role
In his keynote address, Director of Economy, Trade & Investment at Nigeria’s Ministry of Foreign Affairs, Akinremi Bolaji, highlighted the country’s potential as a key trading partner for the US, particularly in light of the African Continental Free Trade Area (AfCFTA).
“Our markets are open, our opportunities vast—from tech to agriculture,” he said, inviting American firms to increase their investments in Nigeria.
While highlighting the country’s youthful population and natural resource wealth, he acknowledged barriers such as infrastructure deficits and regulatory inconsistencies.
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Mr Bolaji also called for a shift from dependence on commodity exports, urging greater investment in value-added industries. “Africa must move beyond exporting raw materials; we need investments in processing and manufacturing to create sustainable growth,” he said.
Navigating US market regulations
The Executive Director and CEO of the US-Africa Trade Commission, Titus Olowokere, delivered a presentation on market entry strategies for Nigerian businesses looking to export to the U.S.
He highlighted the African Growth and Opportunity Act (AGOA) as a crucial framework for duty-free access to US markets but warned that regulatory compliance remained a key challenge.
“Know the rules, meet the standards, and the U.S. is yours to conquer,” he told attendees, stressing the importance of product certifications, intellectual property protections, and adherence to ethical business practices. He also pointed to digital trade and e-commerce as viable avenues for Nigerian entrepreneurs to tap into U.S. demand.
Mr Olowokere provided specific guidance on market research, financing options, and networking with US-based industry associations. “Trading with the U.S. is not just about transactions—it is about building long-term partnerships that drive mutual prosperity,” he added.
Service exports and the digital economy
The Vice President (International Trade) at the US-Africa Trade Commission, Brandon Smith, focused on the potential for Nigeria’s service sector in international trade.
He said the increasing global demand for IT services, creative industries, and business process outsourcing are areas where Nigeria has demonstrated significant growth.
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“The U.S. is hungry for Nigeria’s talent—market it right, and you’re in,” Mr Smith said, encouraging Nigerian professionals to leverage online platforms and forge strategic partnerships with U.S. firms.
He also pointed out that while regulatory barriers exist, collaboration with U.S.-based entities could help businesses navigate certification requirements.
Barriers & way forward
Despite the optimistic outlook, informal discussions during the networking session revealed ongoing concerns about Nigeria’s business environment. Several attendees highlighted unreliable infrastructure—particularly electricity supply—as a major impediment to trade and investment.
Others raised policy unpredictability and currency volatility issues, which have historically deterred foreign investors.
The speakers emphasised the need for sustained engagement between US and African stakeholders to tackle trade barriers and maximise economic opportunities.
Mr Bolaji reiterated the importance of government-to-government cooperation, while Mr Olowokere urged entrepreneurs to take a proactive approach in understanding international trade regulations.
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