December 15, 2000: CCA hosts high level U.S.-Nigeria Investment Forum

WASHINGTON -As part of the 3rd U.S.-Nigeria bilateral Joint Economic Partnership Committee Meetings, The Corporate Council on Africa (CCA) and its Nigeria Policy Working Group hosted a high level Nigeria Business Investment Forum on Thursday, Dec 7, 2000. The Forum brought together almost 200 senior government officials and private sector representatives for talks on Nigeria's trade and investment environment, and commercial opportunities.

Participants in the day's activities included Chief Phillip Asiodu, principal Economic Advisor to Nigerian President Olusegun Obasanjo; United States Trade Representative Charlene Barshefsky; Alan Larson, Under Secretary of State for Economic Affairs; Director of the Nigerian Bureau for Public Enterprises Nasir El Rufai; Chairman of the Nigerian Economic Summit Group Bonny Oni; and Ambassador Andrew Young.

The forum began with an overview of the Nigerian economy by Chief Asiodu. An Investment Roundtable with presentations on the public and private sector views of Nigeria's trade and investment climate followed. Participants then moved into sector breakout sessions in telecommunications, energy and power, agribusiness, transportation, and small business. These sessions featured presentations on commercial opportunities from senior Nigerian government officials, and the views from the American private sector.

Nigerian representation at the sector sessions included the head of the Bureau of Public Enterprises, the Minister of Agriculture, the Minister of Aviation, the Managing Director of Nigeria Airways, and the Chairman of Nigeria's National Electric Power Authority.

Keynote speakers at a luncheon for the event included Chief Asiodu, Ambassador Barshefsky and Ambassador Young. During the luncheon, Corporate Council on Africa Chairman Maurice Tempelsman echoed the prevailing sentiment that the U.S. and Nigeria "are in the forefront of taking a very good and wonderful relationship" between the U.S. and Nigeria and trying "to make things work into actual actions."

Major underwriters for forum were Shell Exploration and Production, GoodWorks International, Chevron Corporation and HSBC Equator Bank.

The Corporate Council on Africa has taken a leading role in promoting U.S.-Nigeria commercial relations. CCA played a major role in organizing the private sector component of President Bill Clinton's August 2000 visit to Nigeria. CCA led a separate Trade and Outreach Mission to Nigeria in July 2000. CCA's Nigeria Policy Working Group is a prominent and valuable forum for dialogue and discussion of relevant U.S.- Nigeria business issues. CCA also published a comprehensive business investment guide to Nigeria in July 2000.

The Corporate Council on Africa's West Africa International Business Linkages (WAIBL) program sponsored a U.S. - Africa Business Forum on December 6 & 7, 2000 in Lagos, Nigeria. The forum introduced American companies to 100 prescreened Nigerian companies seeking U.S. equipment and technology.