• Wednesday, May 29, 2024
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US- Nigeria partnership to improve barriers to investments

US to partner with Nigeria to curtail barriers to investments

Wally Adeyemo, U.S. deputy treasury secretary, said Nigeria has so much potential, hence the United States intends to partner with the Nigerian government to remove certain barriers to Nigerian investors’ ability to access the U.S. market.

Adeyemo disclosed this on Tuesday in a press briefing during his visit to the Vibranium Valley Tech City in Lagos.

According to Adeyemo, “I am excited to be here today because it has given me a chance to see Nigeria and Innovation at its best and to see the innovative companies that are being built here and I agree with you there’s so much potential here in Nigeria.

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“American investors and American companies want to be partners in doing that work. We want to make sure that we’re partnering with the government to remove barriers to make sure that Nigerian investors can access the US markets and that American investors can access the Nigerian market.”

“However, doing that is a lot of work but we’re encouraged by the early steps of the new Nigerian administration, and we look forward to working with them to do just that.”

“The idea of tech entrepreneurs wanting to access American accounts is an issue that will be addressed.”

“When I’m back in the United States, I will work to make sure that these entrepreneurs many of whom are Nigerian Americans who are working between both places can use the funds that they’ve raised to help build Innovative companies that help improve the Nigerian economy and also help improve the American economy going forward,” Adeyemo said.

Addressing how the US government can support local tech talents in Nigeria, he emphasised that the departure of numerous Nigerians to the United States is starting to benefit Nigeria because many of them are now coming back to start their businesses in the country.

In other to curtail the brain drain in Nigeria, Adeyemo said the US wants to partner with Nigeria to ensure that the talents that exist here have the opportunity to grow businesses here from small medium, and large enterprises and make investments to help grow an economy an economy that works for Nigeria.

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“Three out of five Nigerians are under the age of 25 by 2050 Nigeria will be 400 million people bigger than the United States of America. We don’t only share economic prospects, we share values with more than 500,000 Nigerian Americans who go between Nigeria and America regularly.

“Our goal is to make sure that the talented people who live here in Nigeria have the opportunities to realize their dreams here and to be able to take advantage of the opportunities that exist in Nigeria,” Adeyemo said.