By Milcah Tanimu
The U.S. Deputy Treasury Secretary, Wally Adeyemo, has announced the U.S. government’s intention to invest in various enterprises, both small and large, in order to stimulate Nigeria’s economy.
Adeyemo made this announcement during a media briefing on Tuesday while visiting tech innovators at Vibranium Tech City in Ikeja.
He pointed out that Nigeria is on track to become one of the world’s most populous nations, with three out of every five Nigerians under the age of 25. By 2050, Nigeria’s population is projected to reach approximately 400 million, surpassing that of the United States.
Adeyemo emphasized the strong ties between the two nations, citing over 500,000 Nigerian-Americans who regularly travel between Nigeria and the United States. He stated, “Our goal is to ensure that the talented individuals residing in Nigeria have opportunities to realize their dreams here and capitalize on the potential that exists in Nigeria.”
Addressing the issue of brain drain, Adeyemo noted that the emigration of many Nigerians to the United States has started yielding positive outcomes for Nigeria, as a significant number of them are returning to establish businesses in their home country.
The Deputy Secretary of Treasury, during his visit to Nigeria to enhance bilateral relations, highlighted his meetings with Nigerian-Americans who have recently returned to Nigeria to launch businesses. According to Adeyemo, these individuals are returning because they see great promise in Nigeria.
He emphasized the U.S. government’s commitment to partnering with Nigeria, citing the country’s wealth of talent. Adeyemo expressed a desire to invest in these talents to contribute to economic growth.
Regarding the removal of investment barriers, Adeyemo pledged that the U.S. government would collaborate with Nigeria to eliminate obstacles hindering investment between the two nations, facilitating easier access to both markets.
In conclusion, Adeyemo expressed his excitement about the innovative potential in Nigeria and the eagerness of American investors and companies to become partners in its development. He stressed the importance of partnership with the Nigerian government to foster economic growth and praised the early initiatives of the new Nigerian administration.
