U.S.-Nigeria Business dialogue strengthens economic cooperation at IMF Spring Meetings

By:  Robert Kwaku Annor

The American Business Council Nigeria (ABC), in partnership with the U.S.-Africa Business Center, has hosted a high-level dialogue with Nigeria’s Central Bank Governor, Olayemi Cardoso, and the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole MFR, on the sidelines of the IMF Spring Meetings at the U.S. Chamber of Commerce headquarters.

The engagement brought together senior public and private sector leaders to deepen discussions on Nigeria’s economic direction, monetary policy reforms, and opportunities for strengthening U.S.-Nigeria trade and investment relations.

In her opening remarks, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, stated that the Nigerian government has made significant progress in stabilising the economy over the past three years. She noted that the country remains at a critical inflection point but emphasized that recent economic reforms have contributed to restoring confidence. She further assured participants that the government remains stable, forward-looking, and open to collaboration with the private sector across key economic sectors.

The President of the U.S.-Africa Business Center, Kendra Gaither, welcomed both officials and highlighted the importance of sustained public-private dialogue in supporting Nigeria’s economic growth and investment climate. The session was moderated by Vice President Guevera Yao, while Margaret Olele provided updates on the ongoing U.S.-Nigeria Business Initiative, a private sector-led platform convened by the Chamber and ABC.

The Central Bank Governor, Olayemi Cardoso, reiterated that Nigeria’s policy direction remains consistent and focused on reform implementation. He emphasized that the difficult measures undertaken over the past two years were necessary to restore macroeconomic stability. According to him, the Central Bank is prioritising credibility through transparency, discipline, policy coordination, and rule-based operations.

The dialogue also featured participation from senior executives representing major global companies including Flutterwave, Visa, Google, American Express, and Mastercard, reflecting strong private sector interest in Nigeria’s evolving economic landscape.

Discussions focused on monetary and financial sector priorities, risk management, financial system stability, and concrete steps to expand U.S.-Nigeria trade and investment flows.

The organisers acknowledged Visa for sponsoring the event, which concluded with a commitment to strengthening collaboration between public institutions and the private sector to support sustainable economic growth.