Monday, July 29 2024, Abuja
The agreement was signed at the 2024 AGOA Forum in Washington DC by Dr. Doris Nkiruka Uzoka-Anite, Nigeria’s Minister of Industry, Trade and Investment, and Gina M. Raimondo, U.S. Secretary of Commerce.
The MOU aims to enhance business environments, promote private sector trade and investment, and strengthen business relations. It targets key sectors like infrastructure, agriculture, sports, and the digital and creative economy, and focuses on investment promotion and regulatory reforms.
The agreement includes regular consultations between businesses and governments. Both countries also issued a joint statement on new commercial cooperation avenues and shared priorities in the digital economy.
Dr. Uzoka-Anite called the MOU a pivotal moment for Nigeria-U.S. economic relations, highlighting its focus on sustainable growth and job creation. Raimondo emphasized Nigeria’s importance as a partner for the U.S., stressing the commitment to foster economic growth, innovation, and job creation.
The MOU establishes cooperation structures with ministerial and technical co-chairs and various consultation levels. It will last for five years, with options for review and revision. This agreement marks a significant step in strengthening Nigeria-U.S. economic ties, promising mutual prosperity and cooperation.