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Nigerian businesses have been empowered on ways to increase presence and benefit from U.S. market opportunities during the African Growth and Opportunity Act (AGOA) workshop organised on October 21 and 22.
Over 200 participants learned about the requirements for benefiting from AGOA, strategies for export growth, and practical guidance on improving the quality and competitiveness of Nigerian exports.
Join our WhatsApp ChannelThe two-day workshop was organised by the United States Agency for International Development (USAID) and Prosper Africa, a U.S. government Presidential-level national security initiative, in collaboration with the Office of the Vice President of Nigeria and key Nigerian government institutions.
AGOA is a program that allows eligible countries in sub-Saharan Africa to export 6,800 different products to the United States without paying tariffs or facing limits on the amount they can export.
The workshop, organized in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Nigerian Export Promotion Council (NEPC), provided valuable training to export-ready Nigerian businesses.
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It focused on businesses in the agriculture, manufacturing, textile, and apparel sectors, and had in attendance customs and trade officials.
The participants also received practical guidance on navigating the U.S. market, enhancing trade capacity, and the benefits of strengthening trade relations between Nigeria and the United States.
Speaking at the workshop for the apparel and textile sector, USAID Nigeria Mission Director Melissa A. Jones emphasised the need for economic diversification to stop over dependence on exports and the implications of oil price volatility. “Diversifying Nigeria’s export base away from crude oil is extremely important if the country is to shield its economy from the volatility it currently suffers,” Jones stated.
“Nigeria is a critical partner in U.S.-Africa trade and this AGOA workshop represents a unique opportunity for Nigerian businesses to increase their presence in the U.S. market,” the USAID Nigeria Mission Director added.
On his part, U.S. Consul General Will Stevens urged the participants to take full advantage of the preferential trade benefits under the African Growth and Opportunity Act. “We remain as committed as ever to the goal of creating the necessary conditions for a long-term, durable trade and investment relationship between the U.S. and Nigeria,” Consul General Stevens added.
The workshop was held in response to a request by the Nigerian government during the Bi-National Commission in April 2024, to train Nigerian businesses on how to effectively utilize and benefit from AGOA.
Prosper Africa coordinates across 17 US government agencies to increase trade and investment between the United States and the African continent, including supporting strategic efforts to increase AGOA utilization at scale. Since June 2019, Prosper Africa, in collaboration across the US government, has closed trade deals valued at $509 million dollars.
The U.S. Government, through Prosper Africa, is also a sponsor of this year’s Lagos Fashion week scheduled for October 23-27. Prosper Africa works with partners to leverage innovation, technology and collaboration, transforming U.S.-Africa trade and investment into dynamic, sustainable and empowering relationships.
