Nigerian billionaire investor Tony Elumelu has urged the United States to deepen its relationship with Nigeria through partnership rather than labels, saying closer economic cooperation is essential to tackling insecurity, unemployment and extremism in Africa’s most populous nation.
Speaking after hosting a bipartisan delegation of six US lawmakers in Abuja, Elumelu said Nigeria–US relations were at a “critical crossroads”, calling for dialogue that recognises both Nigeria’s challenges and its strategic importance.
“Nigeria matters to Africa and to the world,” Elumelu wrote in a statement published on Facebook. “The US matters to Nigeria not just as a security partner, but as an economic ally, development collaborator and, most fundamentally, as a friend.”
Nigeria, Africa’s largest democracy, has faced mounting scrutiny in Washington over insecurity and governance concerns, including recent US attention to the country’s security challenges. Elumelu said such issues should not define the relationship.
“Labels may attract attention, but collaboration delivers results,” he said. “Joint problem-solving builds trust faster than unilateral assessments.”
Elumelu, who chairs the pan-African UBA Group, said private enterprise must be placed at the centre of any bilateral strategy. UBA is the only African bank licensed to operate in the United States.
“Private enterprise is not a peripheral actor; it is central to stability,” he said. “Businesses create jobs, reduce poverty and give young people alternatives to despair.”
The visiting US delegation included members of the House Foreign Affairs Committee with responsibilities covering Africa, Europe, the Middle East and Asia. The meeting took place at Transcorp Hotels in Abuja and featured what Elumelu described as “candid interactions and honest conversations”.
Nigeria’s security challenges ranging from jihadist insurgency in the northeast to banditry and kidnappings in other regions continue to weigh on investor confidence. But Elumelu insisted the country’s difficulties must be viewed alongside ongoing reforms and long-term potential.
“Nigeria’s challenges are real,” he said. “But Nigeria is also a country of resilience, reform and immense opportunity. These truths must coexist in policy conversations.”
He also highlighted Nigeria’s long-standing economic ties with the US, noting that the United States has historically been a major importer of Nigerian crude oil, while Nigeria remains an important market for American agricultural exports such as wheat and rice.
Elumelu pointed to the Nigerian diaspora in the US as another pillar of the relationship, describing Nigerian-Americans as “one of the most economically successful and educated groups” in the country.
Trade featured prominently in discussions with the US lawmakers, particularly the future of the African Growth and Opportunity Act (AGOA), which provides duty-free access to the US market for eligible African countries and is due to expire in 2025.
Members of the delegation, Elumelu said, reaffirmed bipartisan support for reviving and prioritising AGOA from 2026.
“AGOA has been one of the most consequential trade frameworks between the United States and Africa,” he said. “Its revival would send a powerful signal of US confidence in African economies, support export diversification and create jobs at scale.”
Looking ahead, Elumelu outlined what he described as clear pathways to strengthening bilateral ties, including expanding cooperation beyond security into health, education, climate resilience and youth employment, while supporting institution-building rather than dependency.
“Africa will not repeat the errors of the past,” he said. “Africans must control our destiny.”
Elumelu said sustained engagement including with the private sector was essential to long-term stability.
“Sustainable partnerships are not built on headlines,” he said. “They are built on direct engagement with those living and investing in the realities on the ground.”
He added: “When Nigeria and the United States engage as partners openly, respectfully and pragmatically, we unlock not just bilateral gains but shared global progress.”
