U.S. Government Agencies: A New and Practical Approach to Export Credit and Financing Opportunities.

The Civic Centre on Ozumba Mbadiwe Street, Lagos, was a choice venue to host visiting United States government agencies, representatives of state and federal governments in Nigeria, and scores of business types who gathered to discuss the new paradigm of business at a workshop titled, U.S. Government Agencies: A New and Practical Approach to Export Credit and Financing Opportunities. This event took place on the 12th and 13th of June 2008.
The workshop was hosted by the United States Ambassador to Nigeria, Ms. Robin Renee Sanders, in collaboration with First Bank of Nigeria Plc and Bank of Industry.

Facilitated by Rimsom Associates on behalf of the United States Ambassador, the workshop was organized to strengthen already existing trade relationships between the two countries and create new ones under the framework of partnership between Nigeria and the United States of America.

Speaking to journalists during the session, the Ambassador added that the goal of the forum was to see more active participation of American companies in Nigeria’s business sector. She added that U.S. agencies were brought together under the same roof so that people can avail themselves the opportunity of what is available from the paradigm shift.

Ambassador Sanders stated that it was a deliberate effort to bring the visiting Government agencies first before involving American business types, so the agencies can provide the necessary recognition before the business people get engaged. The day’s forum was part of the building blocks towards a successful U.S. - Nigeria trading partnership. She also stated that this engagement was not a one-off event nor a quick fix, but an enduring process.

In her opening remarks, the Ambassador said that she named the forum, “A New and Practical Approach” because she was aware that Nigerians want to see U.S. businesses come in large numbers, particularly in the non-oil sector. The forum was the first step in that direction. “So with this in mind, showing that I am listening to the concerns expressed about moving toward a new, practical, and more global approach, I decided to invite what I consider the key U.S. government agencies to come under one umbrella partnership event to discuss ways of accessing U.S. export credit and project financing.”

In his remarks, the Managing Director of First Bank of Nigeria Plc Mr. Jacobs Moyo Ajekigbe said the PPP (Public Private Partnership) concept was one that was capable of improving infrastructure at an accelerated level. After listing the components of PPP, he reiterated that it is a driver of change in Africa. However, he stated that there must be synergy between the public and private sectors to achieve results. He pledged the partnership of First Bank to all initiatives that would bring about development.

Adding her comments to the opening ceremony, Ms. Evelyn Oputu, Managing Director of the Bank of Industry Limited, commended the Ambassador for the fresh insights and encouragement she has brought to the Nigeria/U.S business partnership. She described her bank as being in the forefront of driving Nigeria’s industrialization quest and pledged its full partnership to the U.S government’s efforts.

The U.S. Government agencies that were represented at the forum include, Export Import Bank of the U.S., United States Department of Agriculture’s Foreign Agricultural Service, U.S. Trade and Development Agency, U.S Agency for International Development and the U.S. Commercial Service. They all gave presentations giving account of their previous collaborations in Nigeria and potential for future collaborations.

Also present at the event to give presentations were representatives of the U.S. West African Trade Hub, the Nigerian Export Processing Company (NEPC), the AGOA Institute, the Leasing Company of Nigeria, amongst others.

Also in attendance were representatives from the Bureau of Public Enterprises (BPE), Ministries of Commerce from State and Federal levels, Commissioners from Lagos, Oyo, Bayelsa, Abia, Anambra, Delta, Taraba, Ebonyi and Rivers States.