The United States Secretary of State, Anthony Blinken, has called on Nigeria to address issues such as corruption and challenges in repatriating profits, which have hindered the investment environment for American companies seeking to invest in Nigeria’s economy.
During a meeting with President Bola Tinubu at the Presidential Villa in Abuja, Blinken emphasized Nigeria’s economic potential but highlighted the long-term obstacles that need to be addressed in order to fully unlock this potential.
Blinken expressed the U.S.’s eagerness to collaborate with and invest in Nigeria’s vibrant private sector, particularly in the fields of technology and entrepreneurship. However, he pointed out that corruption remains a significant barrier for companies looking to invest, as they seek a fair and level playing field.
Moreover, Blinken addressed the challenge of repatriating capital as a hurdle that the Nigerian government should strive to resolve. He stressed the importance of combating corruption to ensure a conducive environment for investment, job creation, and the growth of new industries.
In line with this, Blinken mentioned the commitment made by the U.S. to generate an additional $55 billion in private sector investment in Africa over the next few years, emphasizing the progress made towards this goal.
Highlighting the significance of the U.S.-Nigeria relationship, Blinken discussed areas of cooperation between the two countries, including climate action, blue economy development, science and technology exchange, and public health. He also commended Nigeria’s efforts in responding to HIV, COVID-19, and other diseases.
Addressing security concerns, Blinken offered condolences for recent attacks in Nigeria and reiterated the U.S.’s ongoing support in combatting terrorism and violent extremism in the country. He emphasized the importance of civilian security, human rights, and accountability, affirming the U.S.’s commitment to being a security partner for Nigeria and the Lake Chad region.
Additionally, Blinken expressed the Biden administration’s principles regarding the Gaza Strip, opposing any formal change to Gaza’s territory configuration and reaffirming American support for maintaining effective territorial integrity between Gaza and the West Bank.
Finally, Nigeria’s Foreign Affairs Minister, Yussuf Tuggar, emphasized the commonalities between the U.S. and Nigeria in supporting a two-state solution despite differing responses to the violence, attributing such differences to domestic politics and influences.
In conclusion, Blinken’s visit underscored the significance of addressing corruption and improving the investment climate in Nigeria, while also strengthening the strategic partnership between the U.S. and Nigeria to address regional and global challenges together.
