Sheriff Balogun calls for stronger trade ties between Nigeria and the U.S., advocating for a balanced trade relationship to benefit both nations
Sheriff Balogun, the incoming National President of the Nigerian-American Chamber of Commerce (NACC), has called for a more balanced trade relationship between Nigeria and the United States.
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Speaking in an exclusive interview with CNBC Africa, Balogun highlighted the positive trend of a decreasing trade deficit with the U.S.
but emphasised the importance of working towards a more balanced trade structure that can benefit both nations.
“The decreasing trade deficit with the U.S. is a good sign, but we must work towards a balanced trade structure that benefits both nations,” Balogun stated, underlining the necessity of strengthening economic ties to ensure mutual prosperity.
As Nigeria seeks to expand its global trade footprint, Balogun noted that there is an urgent need to improve investment opportunities, enhance policy frameworks, and focus on boosting Nigerian exports to the U.S.
These measures, according to Balogun, are crucial in diversifying the country’s economic partnerships and supporting sustainable economic growth.
Balogun’s upcoming leadership at the Nigerian-American Chamber of Commerce will focus on fostering stronger bilateral trade ties, advocating for policies that promote Nigeria’s trade competitiveness, and building lasting business partnerships between Nigerian and American enterprises.
His leadership will likely play a pivotal role in Nigeria’s efforts to broaden its trade horizons, aligning with ongoing initiatives to diversify the country’s economy and boost its standing in the global marketplace.
