By Ken Afor
The scheduled visit of the United States Deputy Treasury, Wally Adeyemo, to Nigeria is expected to reestablish and strengthen bilateral agreements particularly in the area of the economy between both countries.
In a statement issued on Wednesday by the spokesperson of the U.S. Department of State, Matthew Miller, Adeyemo is expected to have a series of engagements with key government officials, business leaders and representatives from various sectors concerning the economy.
The visit will be centered around exploring avenues for both countries to boost trade in key sectors of the economy including energy, agriculture, technology and finance.
“This visit comes at a crucial time when both countries have recognized the immense potential for collaboration and mutual growth. Nigeria, with its vibrant economy and abundant resources, offers a vast array of opportunities for foreign investment, while the United States, as a global economic powerhouse, brings extensive expertise and capital to the table,” the Department of State noted.
It also noted that, “During the visit, the Deputy Treasury Secretary will engage in a series of high-level meetings with key government officials, business leaders, and representatives from various sectors. The discussions will revolve around enhancing trade relations, exploring avenues for investment, and addressing any potential barriers that hinder the bilateral economic relationship.
“Nigeria, as Africa’s largest economy, has witnessed remarkable transformation in recent years. The government’s commitment to economic reforms, infrastructure development, and diversification has attracted substantial foreign interest.
“The visit by the Deputy Treasury Secretary further reinforces the United States’ recognition of Nigeria’s potential as a strategic economic partner.
“The agenda of the visit will encompass several crucial topics. Discussions will include exploring avenues for increased trade, with a focus on areas such as energy, agriculture, technology, and finance.
“Both countries will seek to identify areas of complementarity and develop synergistic investment strategies to maximize mutual benefits.
“Furthermore, discussions around financial cooperation, including the fostering of greater collaboration between banking and financial institutions, will be prioritized.
“The Deputy Treasury Secretary’s visit aims to facilitate dialogue and create the necessary framework for increased coordination between the two nations’ financial sectors, thereby enabling smoother international business transactions and enhanced economic cooperation.”
According to the statement, the two countries will be signing several memoranda of understanding and bilateral agreements that will serve as a foundation for deeper economic collaboration.
It would be recalled that Nigeria’s President, Bola Ahmed Tinubu ensuring the country is strategically positioned among the comity of nations, over the weekend, headed to India for the G-20 Summit where he met with the Indian Prime Minister, Narendra Modi.
Several pledges, in terms of bringing in investments into the country in the area of agriculture and technology, were made to Nigeria by the Indian government, according to the President’s spokesperson, Ajuri Ngelali.
The President had a stopover in the United Arab Emirates (UAE) on Monday where he met with UAE President, Mohamed bin Zayed Al Nahyan.
Two key issues were resolved between the two countries: the immediate cessation of the visa ban placed on Nigerian travelers since October 2022 and the resumption of flight operations for Etihad Airlines and Emirates Airlines.
It is expected that these engagements and those in the future will be a major turning point for the country in actualising its economic fortunes.
