Business leaders, trade experts, and government officials gathered in Abuja on Thursday for a high-level networking workshop aimed at strengthening trade relations between the United States and Africa.
Organized by the US-Africa Trade Commission, the event served as a forum for discussions on investment prospects, market access, and regulatory challenges impacting bilateral trade.
With the theme “Enhancing U.S.-Africa Trade & Investment Through Strategic Partnerships”, the workshop examined approaches to deepening economic cooperation, emphasizing Nigeria’s strategic role in trade between both regions.
The event featured keynote addresses and presentations on trade policies, regulatory compliance, and export opportunities, particularly for Nigerian entrepreneurs seeking entry into the U.S. market.
Nigeria’s Position in Trade
Delivering a keynote speech, Akinremi Bolaji, Director of Economy, Trade & Investment at Nigeria’s Ministry of Foreign Affairs, emphasized the country’s potential as a major trading partner for the United States, especially within the framework of the African Continental Free Trade Area (AfCFTA).
“Our markets remain open, and our opportunities are vast—from technology to agriculture,” he stated, encouraging American companies to expand their investments in Nigeria.
While underscoring Nigeria’s youthful population and abundant natural resources, he acknowledged prevailing challenges such as infrastructure limitations and regulatory inconsistencies.
Mr. Bolaji also advocated for a transition from reliance on raw commodity exports to increased investment in value-added industries. “Africa must go beyond exporting raw materials; we need investments in processing and manufacturing to drive sustainable economic growth,” he noted.
Navigating U.S. Market Regulations
Titus Olowokere, Executive Director and CEO of the US-Africa Trade Commission, provided insights into market entry strategies for Nigerian businesses seeking to export goods to the United States.
He described the African Growth and Opportunity Act (AGOA) as a vital framework offering duty-free access to U.S. markets but warned that regulatory compliance remains a significant hurdle.
“Understand the requirements, meet the necessary standards, and the U.S. market is within your reach,” he advised participants, emphasizing the necessity of product certifications, intellectual property protections, and adherence to ethical business practices. He also highlighted digital trade and e-commerce as viable avenues for Nigerian businesses to tap into growing U.S. demand.
Mr. Olowokere offered practical guidance on conducting market research, exploring financing options, and networking with U.S.-based industry organizations. “Engaging in trade with the U.S. is not just about transactions—it’s about fostering long-term partnerships that ensure mutual economic prosperity,” he added.
Service Exports and the Digital Economy
Brandon Smith, Vice President (International Trade) at the US-Africa Trade Commission, emphasized the vast potential of Nigeria’s service sector in global trade.
He noted the rising global demand for IT services, creative industries, and business process outsourcing, highlighting Nigeria’s strong performance and growth in these areas.
