Nigeria gets AGOA extension, urged to boost exports

The Nigerian-American Chamber of Commerce (NACC) has urged Nigeria to utilize the recently extended African Growth and Opportunity Act (AGOA) to boost non-oil exports and tackle domestic obstacles hindering access to the United States market. This plea came after the signing of the Continuing Appropriations and Extensions Act, 2027 by US President Donald Trump, which extended AGOA until December 31, 2028.

The extension ensures duty-free access to the US market for Nigeria and 31 other sub-Saharan African nations, providing businesses with increased certainty for investments, production, and exports. The NACC stated this in a Thursday statement signed by Deputy President Ehi Braimah and National President Alhaji Sheriff Balogun.

Balogun emphasized that the extension presents an opportunity for Nigeria to enhance its export base and attract new investments, stating that Nigeria, the second-largest AGOA beneficiary, must move beyond relying on oil exports. The NACC urged the Federal Government, private sector, and state governments to enact coordinated and practical measures during the extension period to address structural challenges.

These include improving Nigeria's ability to maximize the preferential access to the US market and broadening AGOA exports beyond crude oil. Measures such as developing agricultural products, textiles, processed foods, and manufactured goods were recommended, as well as addressing domestic bottlenecks like ports, standards compliance, and logistics.

Furthermore, the NACC called for stronger US-Nigeria commercial partnerships through joint ventures, technology transfer, and increased investment in productive sectors. Balogun stressed the urgency of utilizing the extension period, saying the next two years should be a sprint towards a lasting successor to AGOA that benefits all parties.

The Chamber pledged to facilitate commercial relationships between Nigerian producers and American buyers, support businesses navigating AGOA opportunities, and contribute to job creation, industrial development, foreign exchange earnings, and overall economic growth through increased exports of value-added Nigerian products.