The Nigerian-born United States Deputy Treasury Secretary, Wally Adeyemo has been scheduled to visit Nigeria to strengthen economic ties between Washington and Abuja.
The 42-year-old highest-ranking member of the African diaspora in President Joe Biden’s administration will journey to Nigeria next week to deepen economic ties with Africa and counter China’s growing influence on the continent.
While in Nigeria, Adeyemo will meet with key government officials, business leaders, and representatives from various sectors of the Nigerian economy.
A WordPress statement by the U.S. government said, “We are excited to announce that the Deputy Treasury Secretary will soon be making a highly anticipated visit to Nigeria in a significant effort to strengthen economic ties between the United States and Nigeria.
“This visit comes at a crucial time when both countries have recognized the immense potential for collaboration and mutual growth. Nigeria, with its vibrant economy and abundant resources, offers a vast array of opportunities for foreign investment, while the United States, as a global economic powerhouse, brings extensive expertise and capital to the table.
“During the visit, the Deputy Treasury Secretary will engage in a series of high-level meetings with key government officials, business leaders, and representatives from various sectors. The discussions will revolve around enhancing trade relations, exploring avenues for investment, and addressing any potential barriers that hinder the bilateral economic relationship.
“Nigeria, as Africa’s largest economy, has witnessed remarkable transformation in recent years. The government’s commitment to economic reforms, infrastructure development, and diversification has attracted substantial foreign interest.
“The visit by the Deputy Treasury Secretary further reinforces the United States’ recognition of Nigeria’s potential as a strategic economic partner.”
The development comes a few days after President Biden and his Nigerian counterpart, President Bola Tinubu, discussed plans to reinforce the enduring relationship and the longstanding friendship between the two countries and peoples.
During the brief chat held on the sidelines of the G20 Summit in New Delhi, India, last Sunday, the American President commended Tinubu for the strides made by his administration to reform the Nigerian economy.
The Nigerian leader has embarked on several reforms, especially in the financial sector, as he looks to revive the country’s economy via investments from both local and foreign investors.
Meanwhile, the Deputy Treasury Secretary, in an interview with The New York Times, said his scheduled visit to his country of birth means a lot to him.
Adeyemo emigrated from Nigeria to the U.S. as a two-year-old child and will be visiting the West African country for the first time since then.
“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.”
“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,” he was quoted as saying.
