The United States government has praised Nigeria's monetary policies, acknowledging their role in creating a conducive environment for businesses to thrive and in strengthening and positioning the nation's economy for overall growth. Joy Basu, U.S. Deputy Assistant Secretary, Bureau of African Affairs, State Department, made this known at a digital news conference with participating journalists.
Basu emphasized the commitment of the U.S. to collaborate with Nigeria in addressing various pressing issues and obstacles faced by the country, which, as Africa's largest economy, plays a significant role in the continent's economic landscape. She mentioned that the U.S. is working closely with the U.S. Treasury, Nigerian authorities, and African central banks to ensure economic restoration, stability, and prosperity in both the public and private sectors across Africa.
Reflecting on the recently concluded 16th U.S.-Africa Business Summit in Dallas, Texas, Basu highlighted the U.S.'s efforts to address Africa's security, infrastructure, and energy challenges. She mentioned that concrete commitments have been made to enhance the business environment in Nigeria, ensuring transparency for American companies investing in the country.
Reta Lewis, President of the U.S. Export-Import Bank, also underscored U.S. efforts to bolster trade and investment across Africa. She emphasized the importance of transparency and accountability in strengthening U.S.-Africa partnerships. Lewis revealed that the U.S. government has allocated $900 billion for the construction of solar power plants in Africa, marking the largest renewable energy project and transaction this year.
The U.S. government's commendation of Nigeria's monetary policies and its commitment to partnership underscore a positive outlook for economic cooperation and growth between the two nations.
