Chamber raises hope on U.S. firms’ sustainable impact in Nigeria

The American Business Council (ABC) has raised hope on the ability and commitment of United States’ (U.S.) companies in Nigeria to impact the economy through sustainable programmes.

Its Chief Executive Officer and Executive Secretary, Margaret Olele, told journalists in Lagos that ABC has raised hopes that U.S. companies in Nigeria will see corporate social responsibility (CSR) as a strategic plan to make impact in the country, adding that the projects are also sustainable.

One of the chamber’s recent activities is its report on the ease of doing business, which was presented recently to the Minister for Industry Trade and Investment, Okechukwu Enelemah.

The report is the outcome of a business workshop and open forum with technical experts from the Manufacturing, SME, ICT, Energy, Agriculture, Real Estate, Courier and HealthCare sectors.

Speaking, President of ABC, Lazarus Angbazo, noted that over 100 U.S. companies operating in Nigeria have partnered and invested more in the country since independence, with a long-standing commitment to the nation.He described the ABC as an integral stakeholder in the ongoing Commercial Investment Dialogue (CIB), aimed at deepening trade and investment ties between the U.S. and Nigeria, foster sustained engagement between both governments on issues of importance to the private sector.

About 74 U.S. companies took part in the survey, which is an aggregate of tax contributions, revenue, FDIs inflows, local content, training, as well as direct and indirect employment. Conducted by the Council in collaboration with the U.S. Embassy, Accenture, KPMG, and PwC to assess the overall impact of US firms in Nigeria, the survey showed U.S.’s role play in Nigeria’s economy, especially in jobs creation, investments, training and development, tax and CSR.