The House of Representatives has called for stronger economic cooperation between Nigeria and the United States. They stress the need for transparent laws, predictable taxation, and an improved business environment to attract investment and stimulate economic growth. This call was made at a meeting of the Nigeria-United States Parliamentary Friendship Committee with members of the American business community and Nigerian entrepreneurs in Abuja.
The meeting provided a platform for discussions on investment opportunities, trade relations, and policy reforms that could strengthen commercial ties between both countries. The Speaker of the House of Representatives, Abbas Tajudeen, was represented by the House Leader, Julius Ihonvbere. Ihonvbere said the legislature had a critical responsibility to enact laws that reduce uncertainty, protect legitimate business interests, encourage competitiveness, and expand economic opportunities for businesses of different sizes.
Ihonvbere emphasized that investors were more likely to commit capital where laws were clear, institutions were accountable, contracts were respected, taxation was predictable, and regulatory processes were transparent. The National Assembly recognizes that its responsibility extends beyond regulating economic activities to creating an enabling environment for enterprises to thrive, stimulate productivity, generate employment, and contribute to national development.
The House Leader cited Nigeria’s ongoing tax reforms as an important effort to modernise the country’s tax system, improve compliance, and simplify tax administration. He stressed that effective implementation, clear guidance, and constructive engagement with the private sector would be essential to achieving the objectives of the reforms. American businesses have shown willingness to share experiences and ideas on improving Nigeria’s tax administration, regulatory coordination, infrastructure, and investment climate.
The Nigeria-US Parliamentary Friendship Committee has worked to establish practical economic links through business engagement, policy dialogue, and efforts to address barriers affecting commercial relations between the two countries. The committee had engaged with the US Chamber of Commerce during a visit to the United States in May 2025. They also had discussions with American policy institutions on governance, institutional accountability, and policies required for sustainable economic development.
The committee highlighted the importance of the African Growth and Opportunity Act (AGOA). Sustained cooperation between the Nigerian and American legislatures could help expand mutually beneficial trade. Opportunities under the trade framework could support Nigerian exports, industrial expansion, agriculture, and manufacturing while creating commercial opportunities for American importers and investors.
The meeting ended with a commitment to sustain engagement between the parliamentary committee, the American delegation, and Nigerian businesses. This aims to translate discussions into practical investment partnerships and stronger commercial relations. Nigerian business representatives presented investment opportunities across several sectors, including agriculture, power generation and distribution, renewable energy, construction, mining, real estate, financial services, fashion and garment manufacturing, and export development.
Key points
- The Nigerian House of Representatives calls for stronger economic ties with the US.
- Clear laws and improved business environment are necessary to attract investment.
- The Nigeria-US Parliamentary Friendship Committee is working to establish practical economic links between the two countries.
