U.S restates commitment to Nigeria’s economic stability

United States Chargé d’Affaires in Nigeria, David Young says America is committed and increasingly focused on the issues of economic stability and growth of Nigeria.

Young  stated this at  Nigerian-American Chamber of Commerce Conference on Small and Medium Enterprises (SMEs) Financing and Franchising in Abuja.

Young said U.S. had provided more than half a billion dollars in annual assistance to Nigeria in the areas of health and security.

He said that America was committed to ensuring that Nigeria’s goals for a prosperous economy are achieved.

“We recognise that our shared health and security goals depend on a prosperous economy,” he stated.

Young recalled that at the U.S. Africa Business Forum two weeks ago in New York, President Obama said  “Wherever I’ve gone, from Senegal to South Africa, Africans insist they don’t just want aid, they want trade.

“They want partners, not patrons. They want to do business, and grow business . . . and the U.S. is determined to be that partner, for the long term”.

He also recalled former Ambassador James Entwistle’s frequent reminders to Nigeria that “the relationship between the two countries is indeed a partnership.

“One in which the U.S does not do things for Nigeria, but with Nigeria”.

Young highlighted the U.S. support for Africa’s economic prosperity under President Obama, including renewal by Congress of the Africa Growth and Opportunity Act for a decade.

“Other important steps taken by the U.S. launching Trade Africa and Power Africa, creating the Doing Business in Africa campaign, and increasing commitments from the U.S. Export-Import Bank.

“Overseas Private Investment Corporation and the Millennium Challenge Corporation,’’ he said.

It would be recalled that the 2016 Nigerian-American SME Financial and Franchising Conference is a bilateral trade and investment advancement initiative organised in collaboration with the Economic Section of the U.S. Embassy in Nigeria.