Speaking at a Nigerian-American Chamber Of Commerce Conference on Small and Medium–Sized Enterprises -- or SME -- Financing and Franchising in Abuja, Nigeria, on October 5th, U.S. Chargé d'Affaires David Young said United States has provided more than half a billion dollars in annual assistance to Nigeria in the areas of health and security, but is also increasingly focused on the issues of economic stability and growth for the country.

“We recognize that our shared health and security goals depend on a prosperous economy”, he stated.

Mr. Young recalled that at the U.S. Africa Business Forum in New York, President Barack Obama said: “Wherever I've gone, from Senegal to South Africa, Africans insist they don't just want aid, they want trade. They want partners, not patrons.

They want to do business, and grow business . . . and the United States is determined to be that partner, for the long term.”

Mr. Young highlighted the United States' support for Africa's economic prosperity under President Obama, including renewal of the 10-year extension by Congress of the Africa Growth and Opportunity Act, or AGOA, in 2015 for a decade.

Other important steps taken by the United States: launching Trade Africa and Power Africa, creating the Doing Business in Africa campaign, and increasing commitments from the U.S. Export-Import Bank, Overseas Private Investment Corporation and the Millennium Challenge Corporation.

The 2016 Nigerian-American SME Financial and Franchising Conference is a bilateral trade and investment advancement initiative organized in collaboration with the Economic Section of the United States Embassy in Nigeria.

The United States is proud to work with its partner Nigeria to promote a vibrant economy for the benefit of all Nigerians, the region, and the world.