TheCable

Antony Blinken, United States secretary of state, says American entrepreneurs and companies are ready to invest in the Nigerian economy.

Blinken spoke on Tuesday during a press briefing at the State House in Abuja after meeting with President Bola Tinubu.

Blinken is in Nigeria as part of his African tour, and he is expected to depart Abuja for Lagos.

The US secretary of state expressed the commitment of his country to partner with African countries in certain areas of development.

Blinken said the US is supporting the use of artificial intelligence for good, blue economy, and climate action in Africa.

He added that the US wants to drive a technological revolution in Nigeria for the benefit of both countries.

“American entrepreneurs and companies are eager to partner with and invest in the Nigerian economy, particularly in the tech sector,” Blinken said.

“We have tech giants that have teamed up with their Nigerian counterparts to help meet President Tinubu’s one million digital jobs initiative.

“Our tech incubators are fostering Nigeria’s next startups. Our venture capital companies are working to finance, so we want to work in partnership to help drive Nigeria’s technological revolution, which is creating jobs, growing businesses, and springing innovations in both of our countries.”

Blinken said there are long-term challenges, including corruption that must be overcome to unlock Nigeria’s full potential.

“Nigeria offers real, clear, and compelling opportunities for investors, at the same time, I think it is no secret that there remain some long-term challenges that need to be overcome to really unlock the full potential,” he said.

“Tackling corruption, making it easier for foreign companies to repatriate capital – these will all pull in a transformative direction and investment.”

The US secretary of state welcomed the “bold economic reforms” of Tinubu, especially, the unification of the exchange rate and removal of the petrol subsidy.