Bilateral Economic Relations

The United States is the largest foreign investor in Nigeria, with U.S. foreign direct investment concentrated largely in the petroleum/mining and wholesale trade sectors. U.S. exports to Nigeria include wheat, vehicles, machinery, oil, and plastic. Nigeria is eligible for preferential trade benefits under the African Growth and Opportunity Act (AGOA). U.S. imports from Nigeria include cocoa, rubber, returns, antiques, and food waste. The United States and Nigeria have signed a bilateral trade and investment framework agreement. In January 2016, U.S. Secretary of Commerce Penny Pritzker visited Nigeria to kick-off a fact-finding mission with senior U.S. business executives who comprise President Obama’s Advisory Council on Doing Business in Africa. The Council’s visit underscored the broad U.S. commitment by both government and the private sector to advance economic engagement with Nigeria. The BNC meeting of March 30, 2016 noted the U.S. and Nigerian Governments’ pledge to work together to ensure maximum utilization of current programs to promote trade and investment, including AGOA and the bilateral trade and investment framework agreement.

Nigeria’s Membership in International Organizations

Nigeria and the United States belong to a number of the same international organizations, including the United Nations, International Monetary Fund, World Bank, and World Trade Organization. Nigeria also is an observer to the Organization of American States.