US Commits To Increased Relations With Nigeria

US Commits To Increased Relations With Nigeria

The US government has reiterated its commitment to deepening trade and economic relations with Nigeria.

The Assistant Secretary for International Trade and Director-General, US and Foreign Commercial Services, Mr Suresh Kumar, made the remark on Thursday when his delegation visited the Group Managing Director (GMD) of NNPC, Mr Austen Oniwon.

He said the US administration had always considered Nigeria as an ally and one of its most important partners in Africa.

Kumar, who is leading a delegation on trade promotion, said that Washington appreciated Nigeria's aspirations to move forward.

Transparent trade relations

He said that there was a necessity to bring in “predictability'' in terms of commerce and industry between both countries, and particularly highlighted transparency and a level playing field in that direction.

The Assistant Secretary said it was important to apply the rules of engagement to ensure a common platform to enable American companies participate fairly and freely.

In his words “We do not want to see any blocks (impediments) on our trade and investments.

 “We support those timelines in the passage of the Petroleum Industry Bill (at the National Assembly) and look forward to doing more business with you.'

He said the US Administration also supported Nigeria's quest for a free and transparent polls in April as well as the country's determination to put its electoral process right.

Continued business relationship

Oniwon told the delegation that the NNPC was happy with the existing level of cooperation and partnership with American conglomerates in Nigeria, especially in the oil, gas and power sectors.

He listed the conglomerates to include Chevron, ExxonMobil, ConocoPhillips as well as some service firms, including Halliburton, Schlumberger and General Electric.

The GMD said that Nigeria was probably the single largest supplier of crude to America and expressed hope that the business relationship would continue to grow.

 He said the corporation would also strive to grow its shale gas to fill the energy supply gap in the American market.

Corporation's reform

Oniwon informed the delegation of the current transformation process at the corporation, saying that NNPC would at the end of the industry-wide reform, transform into an integrated, profit oriented National Oil Company (NOC) that would be self-financing and self-sustaining.

He noted that the exploration and production operations of the NNPC were still being funded through the national treasury and expressed optimism that the situation would change with the passage of the PIB.

NAN/Williams