Stabilise Naira, End Corruption to 'Unlock Nigeria's Success'

The U.S. Deputy Secretary of Treasury Adewale "Wally" Adeyemo, has assured Nigeria that President Joe Biden is committed to a strong U.S.-Nigeria relationship that is built on shared values and mutual benefits, writes Dike Onwuamaeze for This Day.

In his visit to Lagos Business School, Adeyemo, the highest-ranking member of the African diaspora in the Biden administration, said: "Our administration recognises that your economic success is not only important to the approximately 200 million people who call Nigeria home; it is important to the region, the continent, and the global economy."

He cautioned that President Bola Tinubu should look at stabilising the Naira currency and end corruption to unlock the country's potential, while praising some of Tinubu's bold moves to grow a sluggish economy.

The overtures from the U.S. follows a telephone conversation that took place on May 16, 2023, between U.S. Secretary of State Antony J. Blinken and Nigeria's President-elect Bola Ahmed Tinubu, on the U.S. administration's commitment to further strengthening the U.S.-Nigeria relationship with the new administration.

Adeyemo's visit follows trips to the continent by other top officials, including Treasury Secretary Janet Yellen and Vice President Kamala Harris. The U.S. is aiming to grow its presence on the African continent, in light of the growth of China and Russia's presence.