Nigeria-USA Chamber of Commerce Targets US$20bn foreign investments

Mr. Chuck Nnabuife is the Board Chairman Nigeria-USA Chamber of Commerce (NUSSAC). He talked to VANGUARD on how the Chamber has been luring American investors to invest in the country beyond oil and gas sector. Excerpt:

What informed the need for this International Trade and Investment Summit?

The need for the summit is that in the U.S, Nigerians are the most educated immigrants so we have a lot of Nigeria professionals-Doctors, people that works in NASA (National Aeronautics and Space Administration. NASA is a United States government agency that is responsible for science and technology related to air and space). When it comes to investment, Nigeria is still widely undeveloped.

So we decided that it is important to team up with those Nigerian professionals living in the U.S.A with American companies, bring them to Nigeria to develop business opportunities, trade and investment.  In doing that, we train people and we empower them to start their own businesses and then provide goods and services as a tool for development.

What do you want to

use the summit to achieve?

We want to use the summit to bring American investors to come to Nigeria and invest.  They have their own monies and training and a lot of American support systems through the U.S Export –Import bank, overseas products, investment cooperation, U.S. IT, and so many supports system that help  American companies to invest in other countries.

Nigeria has a bilateral relationship with the U.S whereby the U.S government supports investments in Nigeria but a lot of Nigerians don’t know about all these. So, we are looking for American companies to come to Nigeria and invest and although the government can say all they wanted to say, yet people have to connect to each other.  So we want to get Americans to connect  with Nigerians, to come together to trust each other, to break the cultural divide  so that they can do business together thereby,  creating trade and investment.




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