US agency praises Nigeria’s economic policies

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CBN headquarters, Abuja
Central Bank of Nigeria (CBN)

The United States Nigeria Council (USNC) has expressed satisfaction that the positive economic developments taking place in Nigeria would encourage investors.

It also backed the Central Bank of Nigeria’s (CBN) monetary policy that is driving the country’s economy.

Ambassador Terence McCulley, USNC Chairman, said on Thursday in Lagos at the annual executive spring dinner in Washington, U.S., on the margins of the World Bank/IMF Spring Meetings.

He noted that the council was satisfied with the positive economic developments taking place in Nigeria, and would encourage investors to take a new look at Nigeria’s economy, under the present administration of President Muhammadu Buhari.

McCulley said that the council supported the apex bank’s monetary policy under the CBN Governor, Godwin Emefiele, for steering the country’s economy out of recession, and sustaining economic growth.

He said that U.S. companies would be encouraged to continue to invest in Nigeria’s economy, in a bid to strengthen the two countries’ economic ties.

“The Council remains the only business group solely focused on Nigeria; and we are pleased to serve as a convener of U.S. and Nigerian entrepreneurs in support of this important bilateral relationship,” McCulley said.

Emefiele said on the occasion that Nigeria’s economy had witnessed seven quarters of sustained economic recovery and growth.

The CBN governor urged U.S. companies to take a closer look at the new dawn in Nigerian economy, by investing more in the country.

Also speaking, Stuart Symington, U.S. Ambassador to Nigeria, echoed the optimism for Nigeria’s progress by assuring the CBN governor of more U.S. companies’ presence in Nigeria.
Mr Emmanuel Okeleji, Founder, SeamlessHR, said that the USNC partnership had greatly impacted on Nigeria’s economy in terms of job creation, food security and ICT development.

“Partnering with leading Nigerian and U.S. companies can greatly accelerate our growth, and thus job creation in Nigeria,” he said.

USNC is dedicated to strengthening commercial and business ties between the United States and Nigeria.

The council builds and supports long-term business partnerships between U.S. and Nigerian companies that drive innovation, entrepreneurship, technology transfer, job creation, and economic growth in both economies.


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