In an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos, the CEO of ABC, Mrs Margaret Olele, stated that no US companies operating in Nigeria had left the country or downsized, despite the global and local economic headwinds.
Olele urged the Nigerian government to implement more favourable policies to enable the companies to deepen their growth and contribution to the economy. She also identified the digital economy and agriculture sectors as areas with great investment potential.
Olele further stated that the healthcare, entertainment, and clean energy industry had great potential to attract strategic investment and partnerships that would catalyse economic development.
Olele commended President Muhammadu Buhari for signing into law the constitutional amendment allowing state governments to license, generate, transmit, and distribute electricity in their states, stating that the move would attract huge private investment opportunities to the power sector. She also urged the state governments to formulate policies that would retain and protect investors.
Additionally, Olele appealed to the Federal Government to develop an Intellectual Property (IP) policy framework that would establish the IP policy in Nigeria, stating that the policy framework was crucial to the implementation of the African Continental Free Trade Agreement.
The CEO of ABC further disclosed that the Council, in collaboration with AmChams in Africa, would host its annual Digital Innovation Competition for African Startups before the end of the year. She stated that the competition would award innovators, entrepreneurs, and startups for developing solutions through digital products and services while creating a positive impact on African citizens.
In addition, Olele revealed that the Council, the Federal Ministry of Communications and Digital Economy, and other partners would hold the Cybersecurity Conference later in 2023. The conference would boost the country's resilience against cyber threats, drive investment in the digital space to boost Gross Domestic Product and bridge the gap in global technology advancement.
Olele emphasised that the Council would continue to heighten American business interests and investments in Nigeria and support the government's economic policies. ABC is the voice of American businesses in Nigeria, with a membership of over 80 US companies.
The Council was pivotal in expanding trade and investment opportunities between Nigeria and the United States of America in the interest of its member companies and both countries.