A new U.S.-Nigeria trade deal could unlock more investment for Nigerian startups
- The U.S.-Nigeria Commercial and Investment Partnership (CIP) was signed in July 2024 to support Nigeria's startup ecosystem.
- The CIP aims to remove regulatory barriers and promote private investment, enhancing access to U.S. venture capital.
- In 2024, Nigerian startups raised $410 million in funding, a 17% increase from the previous year.
The U.S.-Nigeria trade agreement presents a promising opportunity for Nigeria's startup ecosystem, especially in light of the global funding slowdown. However, addressing the underlying regulatory and economic challenges will be crucial for the long-term success of this partnership. Engaging the Nigerian diaspora and leveraging their success stories could further enhance investor confidence and drive growth.
