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US Deputy Secretary of Treasury Visits Nigeria

US Deputy Secretary of Treasury Visits Nigeria

The United States Deputy Secretary of the Treasury, Wally Adeyemo is expected to visit Lagos, Nigeria from Sunday, September 17 to Tuesday, 19, 2023.

According to the US embassy in Nigeria, the Secretary’s visit is part of the US President, Joe Biden Administration’s commitment to deepening the US-Africa economic and trade relationship.

His visit aims to build on the already deep people-to-people ties between the United States and Nigeria, which has been a strong and historic partner.

While in Lagos, Adeyemo will also host a banking and financial sector roundtable with key financial institutions to hear their views on the business and investment climate, as well as how the private sector is dealing with illicit finance risks.

In his engagements, Deputy Secretary Adeyemo, the highest-ranking Nigerian-American official in the Biden Administration, will highlight the economic and cultural ties between the two countries.

Deepening US, Nigeria ties

He will further discuss on how the two countries can deepen their partnership to the benefit, by further developing business and investment in Nigeria with a particular focus on entrepreneurship, youth development, and women’s empowerment.

This trip follows US Secretary Yellen’s travel to Senegal, Zambia, and South Africa in January, which was the first extended visit by a Treasury Secretary to sub-Saharan Africa since the Obama Administration.

The tour comes after President Biden and the Administration announced redoubled engagement with the continent during the U.S.-Africa Leaders Summit last year.

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As Africa’s largest population, democracy, and economy, Nigeria stands out as an important and strategic partner on the continent.

The Deputy Secretary will also focus on Nigeria’s people, its most valuable resource, that will help to shape and drive Nigeria’s economic prospects.

Additionally, Adeyemo will also Leverage the vast Nigerian diaspora around the world, including in the United States where Nigerian-Americans have built successful businesses and prospered, to be a key part of the process.