Th United States Consul General in Lagos, Rick Swart, has said that Africa’s democratic stability and long-term prosperity depend on a vibrant private sector.
Mr Swart urged the governments to create fair business environments that encourage innovation, job creation, and accountability.
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He spoke on Wednesday in Lagos while delivering the keynote address at the launch of the Africa Hub of the Centre for International Private Enterprise (CIPE). It was themed “Catalysing Private Sector–Led Growth for Democratic Stability in Africa.”
“This launch is a regional milestone. It demonstrates CIPE’s enduring commitment to strengthening democracy led by private sector reforms that build fair business environments and create jobs,” Mr Swart said.
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The Consul General described the private sector as a transformative force in Africa, noting that transparent markets and accountable governance are necessary for attracting investment.
He added that the United States is committed to supporting these efforts through trade, investment, and diplomatic engagement.
Strong US-Nigeria ties
Mr Swart highlighted Nigeria’s role as one of America’s most important partners in Sub-Saharan Africa.
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In 2024, trade in goods and services between the two countries reached nearly $13 billion, encompassing energy, manufacturing, technology, and services.
He pointed to thriving partnerships with flagship firms, small tech startups and innovators across Nigeria, describing the “common theme” as one of expanding growth, deepening engagement, and creating long-term prosperity.
Mr Swart noted that education and diaspora contributions remain central to these ties.
He noted that more than 20,000 Nigerian students are currently enrolled in US universities, while the Nigerian community in America, estimated at over 750,000 people, sends about $20 million annually in remittances back home.
In 2024, Nigeria ranks 7th globally for international students in the United States
“These connections strengthen our countries beyond trade. They stimulate local economies and foster ecosystems ripe for entrepreneurial pursuits,” Mr Swart said.
Expanding cooperation
The consul general also referenced the US-Nigeria Commercial and Investment Partnership, a five-year agreement launched in June to deepen cooperation in agriculture, infrastructure, and the digital economy.
“Nigeria is one of only four African countries chosen for this platform,” he said.
He noted that Nigeria’s digital economy has grown rapidly, with five of Africa’s nine billion-dollar “unicorns” emerging from the country.
“Through these relationships, Nigerian and US business leaders have grown the digital economy from about 10 per cent of Nigeria’s GDP in 2014 to about 20 per cent in 2024,” he said.
He said large US firms such as Google are already investing heavily in undersea cables, data centres and training programmes to support this growth, adding that similar approaches will be extended to agriculture and infrastructure, with working groups set to present recommendations to both governments in November.
CIPE’s role
In his remarks, the Executive Director of CIPE, Andrew Wilson, said Nigeria was a natural choice for the Africa Hub, describing Lagos as one of the continent’s leading centres of commerce and innovation.
Mr Wilson said CIPE’s mission is to strengthen democracy through private enterprise and market-oriented reform.
Over the past four decades, he said the organisation has worked in 130 countries, including 23 in Africa, supporting over 500 chambers and associations to foster inclusive growth and accountable governance.
He explained that CIPE’s programmes rest on three pillars: advancing economic freedoms by tackling restrictive regulations and corruption, expanding opportunity by equipping groups such as SMEs and women with tools to thrive, and strengthening resilience to withstand political and economic shocks.
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“Our focus is not just on pushing for reforms but on building the organisations that carry reforms forward and keep government accountable,” he said.
Mr Wilson noted that CIPE has worked with Nigerian partners to cut port clearance times, improve tax administration, and support coalitions that give businesses a voice in shaping national policy.
“When reforms are driven by local actors, they stick. And when associations and chambers are empowered, the private sector becomes a credible partner in democracy,” he said.
Reform efforts
The CIPE Africa hub launch follows the unveiling of the Association and Chamber Excellence (ACE) Certification Programme at the University of Lagos (UNILAG).
The initiative, hosted by the university’s Human Resources Development Centre in partnership with CIPE, is the first of its kind in Sub-Saharan Africa.
It is designed to strengthen the governance and sustainability of chambers of commerce and business associations through professional training.
At the event, Mr Wilson stressed that chambers and associations are central to shaping inclusive policies and driving economic growth.
“The Africa Hub marks a shift in how we carry out our work. Programme management and decision-making will now be based in Africa, closer to our partners and communities,” he said.
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