A General Meeting of US Companies doing business in Nigeria in May 2005, unanimously endorsed the need for an American Business Council (ABC) which , operating like a 'think tank', will focus on policy issues and practical implementation steps in support of Nigerian public and private section leadership as well as ongoing reform initiatives in the country. It is designed to bring ABC's Nigerian based resources combined with the US support, to bear on selected issues and reform initiatives that show potential Read more...
- To promote the development of commerce and investments between the United States of America and the Federal Republic of Nigeria.
- To provide a forum in which American business executives in Nigeria and other business executives with American interests may identify, discuss, pursue common interests affecting their activities.
- To liaise with the Chamber of Commerce of the United States and other chambers of commerce and institutions pursuing similar objects, and to advocate the views of the American business community in Nigeria to public and private interests in the United States and Nigeria.
- To work with individuals and organizations in Nigeria or elsewhere on matters of mutual interest.
- To create awareness of Nigeria's business and investment opportunities in the United States and among the American business community in Nigeria.
- To champion the promotion of free trade in goods and services and removal of trade barriers between Nigeria and the United States and use its best endeavours to influence United States' policies and laws affecting business in Nigeria;
- To develop programmes for capacity building and human capital development in Nigeria through such initiatives as structured institutional, communal and individual donation of funds, skills, tools, equipment and materials to the educational, health and other sectors involved in the socio-economic development of Nigeria
America Business Council the affiliate of the US chamber of commerce held the media launch that showcased the first comprehensive business survey of US firms operating in Nigeria and the significance of US trade and investment on Nigeria Economy this week.
US companies have played a significant and pivotal role in the development of the Nigerian Economy since 1960. US is the largest trading partner of Nigeria in Sub-Sahara Africa, and the largest foreign investor in the country.
The American Business Council is an integral stakeholder in the recent Nigeria -US Bi -National Commission (BNC) meeting with the US mission “to build partnership for tangible and measurable progress on issues critical to United State’s and Nigeria's shared future” and the US- Nigeria commercial and investment dialogue – A Government to private sector initiative that was launched recently.
Among other initiatives to drive policy and regulatory reforms in 2017, the Council organised strategic discussions with the Central Bank Governor, the Minister of Trade and Investment and the Minister of Budget and Planning, all of whom have sought American Business Council's feedback and input on major policy decisions, including the Economic Growth and Recovery Plan, improving the ease of doing business initiative and CBN's currency interventions.
The President, Lazarus Angbazo noted that the 2017 survey highlights “the numbers of US companies that are currently operating in Nigeria, the cumulative direct investment committed by this companies, revenue generated through tax paid to the Government, and how they have provided employment opportunities to Nigeria and boost the macro and micro economics dynamics of the country”.