Deputy Treasury Secretary Of the United States Of America, Wally Adeyemo is set to visit Nigeria next week in an effort to deepen the US economic ties with Africa and counter China’s influence on the continent.
Gatekeepers News reports that this visit aligns with President Bola Tinubu’s economic reform efforts and President Biden’s commitment to invest over $50 billion in Africa over the next three years.
Several US Officials including Secretary of State Antony J. Blinken, have visited Nigeria during Biden’s first term. However, Mr. Adeyemo’s visit holds special significance as he was born in Ibadan, Nigeria before moving to California at a young age of 2. As the highest-ranking member of the African diaspora in the Biden administration, his ascent has been celebrated in Nigeria.
The trip will be Mr. Adeyemo’s first time going back to Nigeria in decades “It’s one of those opportunities to go to a place that means a lot to me personally, but also to go to a place that means a lot to me professionally, just given that Nigeria is Africa’s largest economy with a huge demographic boom.”
During his visit to Lagos, Mr. Adeyemo plans to meet with government officials, technology, entertainment, and finance sector executives, American companies operating in Nigeria, and inspect local projects financed by the US government. He aims to emphasise that the United States desires a partnership with Nigeria to enhance investment and trade relations.
“It’s just a great chance for me to talk about how we can deepen the economic relationship and the strategic relationship at a moment when Nigeria has a government that’s already taken really important steps in terms of economic reform.”Mr. Adeyemo said in an interview with The New York Times.
Key topics of discussion will include tackling corruption, protecting the financial system from illicit finance risks, diversifying the Nigerian economy away from petroleum, and embracing renewable energy.
The United States recognises Nigeria’s significance as Africa’s largest economy and views it as an economic anchor on the continent due to its large young workforce. Nigeria has recently taken steps to attract foreign investors by easing currency controls and removing fuel subsidies, aligning with US efforts to strengthen economic relations.
