Blinken: U.S. companies ready to invest in Nigeria

The United States Secretary of State, Antony Blinken, has reiterated the readiness of American companies to invest in Nigeria.

Blinken disclosed this at a news briefing after meeting with President Bola Tinubu at the Presidential Villa in Abuja on Tuesday, January 23, 2024.

Blinken, who is on an African nations tour, said American entrepreneurs and companies are eager to partner with and invest in Nigeria, especially in the technology sector.

He said: “American entrepreneurs, American companies are eager to partner with and invest in Nigeria’s economy, particularly in the tech sector.

“We have tech giants that have teamed up with Nigerian partners to help Mr President’s new one million digital jobs initiative.

“Other companies are part of laying undersea cables, using satellite technology to expand access to the internet. Our tech incubators are fostering Nigeria’s next startups.

“Our venture capital companies are working to finance, so we want to work in partnership to help drive Nigeria’s technological revolution, which is creating jobs.

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“It’s growing businesses, and it’s growing innovations in both of our countries.”

Blinken also reiterated the significant role of Nigeria in the development partnership between America and the African continent because of its economic and political position.

He said the U.S. was working to ensure that Africa gets more voice in the United Nations decision-making as a way of incorporating the new realities and dynamics of the world.

The U.S. Secretary of State added: “Today, we spoke about a range of common priorities, including our focus on accelerating economic growth and opportunity here. This is a place of extraordinary innovation, extraordinary dynamism.

“The United States is committed to strengthening genuine partnerships on the continent, to solve shared challenges, and also to deliver on the promise and the fundamental aspirations of our peoples.

“Nigeria, as Africa’s largest country, largest economy, and largest democracy is essential to that effort.

“We’re driving blue economic development, environmental protection, science and technology exchange, through a new partnership for learning cooperation.

“At the UN General Assembly, just this past September, the president said, and I quote, ‘Africa is nothing less than the key to the world’s future’.”

Blinken said despite the identified challenges in Nigeria, the government and American entrepreneurs still continue to explore the great potential of the country in reaching Africa.

He stated that large investments are being made by private sector companies in collaboration with local entities to ensure that development was effected for the people, especially in the health sector.

The Star