The United States, through the US Agency for International Development (USAID) Mission in Nigeria and its Prosper Africa and Power Africa initiatives is hosting an investor roadshow to expose US investors to investment opportunities and the investment ecosystem in Nigeria from October 9-13.
Twelve executives from leading US pension funds and financial service providers, managing over $1 trillion in assets, are meeting with Nigerian companies and fund managers during the investor trip.
The roadshow is raising awareness around investment opportunities in the country, particularly in infrastructure, and to build relationships among US and African investors and fund managers.
Nigeria is the largest economy in Africa, with a gross domestic product (GDP) of $477 billion as of 2022, and a diverse range of industries, including oil and gas, agriculture, and telecommunications. According to Goldman Sachs, Nigeria has the potential to be one of the top five global economies by 2075.
The roadshow comes at an opportune time, given the significant reforms instituted by the Nigerian government under a new Administration. A key objective of the trip is to break down information gaps on the country’s business environment and real and perceived risks, so that investors can accurately assess business and project opportunities.
Will Stevens, US Consul General to Lagos said beyond advancing specific investment opportunities the trip is about building enduring trade and investment relationships between America and our Nigerian partners.
“I would like to thank the US Agency for International Development for supporting this inaugural delegation of US investors, in partnership with Chapel Hill Denham and International Investor Network,” he said.
Throughout the week, the investors are scheduled to participate in site visits, events, and investor pitch sessions in Abuja and Lagos, Africa’s commercial capital and the sub-Saharan Africa region’s fourth largest economy.
They will also engage with the US Government representatives to understand US trade and investment priorities in the region and learn more about US Government resources available to support investors.
This roadshow advances USAID’s efforts to mobilize greater private sector investment into infrastructure projects in priority sectors including agriculture; water, sanitation, and hygiene; and renewable energy.
In addition, it advances Prosper Africa’s mandate as a presidential initiative to transform the economic relationship between Africa and the United States and drive large scale investment to the continent.