The U.S. Deputy Secretary of the Treasury, Wally Adeyemo, is set to visit Nigeria in line with the Biden Administration’s commitment to strengthening economic and trade relations with Africa. As the highest-ranking Nigerian-American official in the Biden Administration, Adeyemo will be in Lagos State from September 17th to 19th, as announced by the U.S. Embassy and Consulate in Nigeria.
Adeyemo’s visit aims to reinforce the robust people-to-people connections between the United States and Nigeria, a long-standing and significant partner. During his trip, he will engage with entrepreneurs, businesses, and government representatives to explore strategies for advancing investment and trade between the two nations.
Adeyemo will emphasize the economic and cultural bonds between the U.S. and Nigeria, focusing on enhancing mutual benefits through increased business and investment in Nigeria. He will discuss opportunities facilitated by initiatives like the African Growth and Opportunity Act (AGOA), which grants duty-free access to the U.S. market for various products from eligible sub-Saharan African countries, including Nigeria.
Additionally, the Deputy Secretary of the Treasury will share information about the U.S. government’s available tools to encourage investment in Nigeria, particularly in the realm of high-quality infrastructure designed to meet the needs of Nigerians. This effort aligns with initiatives such as the Partnership for Global Infrastructure Investment (PGI).
Adeyemo’s visit follows Secretary Yellen’s trip to Senegal, Zambia, and South Africa in January, marking the first extended visit by a Treasury Secretary to sub-Saharan Africa since the Obama Administration. It reflects the Biden Administration’s renewed commitment to engaging with the African continent, as articulated during the U.S.-Africa Leaders Summit held last year.
“As Africa’s largest population, democracy, and economy, Nigeria is an important and strategic partner on the continent. The Deputy Secretary will focus on how it is Nigeria’s people – its most valuable resource – who will shape and drive Nigeria’s economic prospects,” the statement read.
“Leveraging the vast Nigerian diaspora around the world, including in the United States where Nigerian-Americans have built successful businesses and prospered, can be a key part of that process.”
After visiting Lagos, the Deputy Secretary will travel to New York to meet with senior Nigerian government officials on the sidelines of the U.N. General Assembly.