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...
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”.