- US Nigeria Council Targets More Investments
A new business organisation, US Nigeria Council, is set to advance diversification, job creation and increased investment in Nigeria.
The council said it aimed to create partnerships between Nigerian and American businesses and forge a backbone of strong United States-Nigeria relations.
The council was launched on March 15, 2017 at a dinner of leaders of Nigerian and American businesses in Lagos, hosted by the Chairman of Flour Mills Nigeria Plc, Mr. John Coumantaros, and the Chief Executive Officer, Nigeria Sovereign Investment Authority,Mr. Uche Orji.
The launch was attended by the US Ambassador to Nigeria, Mr. Stuart Symington; the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele; the US Counsel General, Mr. John Bray; and leaders of Nigeria’s blue chip companies and major US investors.
The commitment of Nigerian businesses to USNC was demonstrated by the active participation of Alhaji Aliko Dangote of Dangote Group, Oba Oteduko of Honeywell Group, Jim Ovia of Zenith Bank Plc, Herbert Wigwe of Access Bank Plc, Akinsowon Dawodu of Citibank Nigeria, Adewale Tinubu of Oando Plc, Aigboje Aig-Imoukhuede of WAPIC Plc, Abdulsamad Rabiu of BUA Group and others.
The US businesses represented at the launch by senior executives included Dow Chemical Company, Chevron, UPS, Procter & Gamble, ExxonMobil and Uber, Coca Cola and 7Up through their bottlers. Among the leading investors at the event were Emerging Capital Partners, Development Partners International, Greenwish Capital and The Carlyle Group.
The council also boasts young entrepreneurs who have started companies in technology, agri-business, e-commerce and education, including Tomato Jos, Mall for Africa and Andela.
The co-host of the launch and co-chair of the council, Coumantaros, while stressing the aim of the council, noted that, “The US Nigeria Council has been formed to bring US and Nigerian businesses together in developing catalytic projects that will develop capacity and accelerate economic diversification in Nigeria.”
He added, “This council is unique among councils because it is business-to-business focused.”
The council’s work, he reiterated, would aim to develop partnerships, investments, and develop capacity in the agro-allied and food, infrastructure, oil and gas, and technology sectors.