Wally Adeyemo: Foreign Investors Eager To Invest In Nigeria For Mutual Benefit

Nigerian-born US deputy treasury secretary, Wally Adeyemo, addressed business leaders in Nigeria stating that the United States of America is highly interested in maintaining and increasing investments into Nigeria so as to strengthen international bonds between the two nations.

“Today, one of Nigeria’s greatest opportunities is the fact that around three in five Nigerians are under the age of 25 creating the opportunity for Nigeria to reap a tremendous demographic dividend, as the population of working people in this country grows.

“In addition to being on the right side of demographics, Nigeria is also blessed with an array of resources.

 “It is clear from my conversation with investors and foreign companies that they are eager to invest in Nigeria to help grow and diversify an economy that can meet your needs.

“This newly built administration and the people I’ve met with from students to entrepreneurs, to major business leaders all share a common understanding of the path forward that creates prosperity for the people. 

“And I’m here to say the United States stands eager and ready to partner with the Nigerian people and government in your quest to build a better future.”

He pointed out that Nigeria has had good relations with the US since the return of democracy that has profited students, investors, companies and all while making note of certain reforms needed to continue this relationship for creating equal opportunities.

Some of the things mentioned include the need for a stable Naira. He used the medium to laud the government for taking difficult steps they took to establish the current state of the nation.

Adeyemo also called for  the establishment of a Foreign Direct Investment (FDI) framework, the need to stamp out insecurity and also corruption as well as the need to articulate a fiscal policy ensuring that establishing and eliminating these issues would help move the international relations between the US and Nigeria.

“Creating economic opportunity would require a government wide drive to address these fears by shining a light on corruption, holding people accountable and taking meaningful steps to improve the business climate.

“…taking simple steps like moving government functions online so Nigerians can apply for business licences and visas using their smartphones or computers will help improve services, productivity, and reduce opportunities for fees to go into (private) pockets rather than government coffers.

“The new government also has the ability to fight skepticism by making reforms that will allow Nigerian people to understand how federal, state and local resources are used.”

He concluded by saying creating a more secure system in Nigeria would be more beneficial. He applauded the Tinubu administration for working with the financial action task force to tackle money laundering.

“Our government stands ready to help work with them to take these steps as quickly as possible. Overall, President Biden and the Biden administration believe deeply in the importance of deepening the relationship with Nigeria because we know that ultimately it is in America’s interest as much as it is in Nigeria’s interest.”

Glamour Adah

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