Edition #126
ABC Events
ABC Nigeria Engages U.S. Businesses in Gabon on U.S.-Africa Trade Collaboration
The American Business Council Nigeria recently joined the U.S. Commercial Service teams in Gabon, Cameroon, and Nigeria—alongside AmCham Mozambique—to engage with U.S. businesses operating in Gabon.
The session provided valuable insights into the role of American business associations and AmChams across Africa. Discussions focused on how these organizations support U.S.-Africa trade and investment, foster strong bilateral relationships, and contribute to shaping a more conducive local business environment.
Special thanks to Faheema Sulemane, Margaret Olele, Julie Marie LeBlanc, Courtney Thomas, and Joy Lawal for their collaboration and support in driving this important dialogue forward.
ABC Secretariat Engages with Apple on Nigerian Business Environment
On April 10, 2025, the Secretariat of the American Business Council Nigeria, alongside Chidozie Arinze, Vice Chair of the Council’s ICT Committee, held a strategic meeting with Alfa Barry, Public Affairs and Government Relations Lead for Africa at Apple.
The discussion focused on sharing key insights into Nigeria’s evolving business landscape, highlighting opportunities and considerations for technology companies looking to deepen their engagement in the market. The meeting reinforced the Council’s commitment to fostering dialogue between global innovators and the Nigerian business community.
American Business Council Participates in Nigeria Forum 2025 Hosted by J.P. Morgan
The American Business Council (ABC) Nigeria was among the key participants at the Nigeria Forum 2025, hosted by J.P. Morgan on April 10 at The Metropolitan Club in Lagos.
The high-level forum convened prominent business and economic leaders to examine Nigeria’s economic outlook, explore financing opportunities, and assess the shifting dynamics of the global landscape. A major highlight of the event was a fireside chat moderated by Dapo Olagunju, Managing Director of J.P. Morgan, featuring Muhammad Sani Abdullahi, Deputy Governor of the Central Bank of Nigeria. The discussion provided critical insights into current developments in Nigeria’s financial sector.
Another key session was a panel discussion titled “Nigeria Macro Outlook: Staying the Course,” with notable contributions from Taiwo Oyedele, Chairman of the Presidential Fiscal Reform Committee, and Dr. Tayo Aduloju, Chief Executive Officer of the Nigerian Economic Summit Group.
Several members of the American Business Council were in attendance, including:
Mary Gbobaniyi (Delta Air Lines)
Adebisi A. (Dow)
Felix Ofungwu (ISN Medical)
Zainab Obagun (CHI Limited)
Abayomi Olarinmoye and Niyi Yusuf (Verraki)
Femi Ogunbi (ExxonMobil)
Ehize Ilozavbie (American Tower Africa)
Chidozie Arinze (Visa)
Abdelaziz Saidu (Cisco)
The forum also served as a platform for networking, collaboration, and strategic dialogue aimed at shaping Nigeria’s future business and investment climate.
The American Business Council extends its appreciation to J.P. Morgan for hosting a forum of such impact and relevance. The Council remains committed to supporting initiatives that foster meaningful engagement and drive sustainable economic growth.
ABC Engages Honorable Minister of State for Industry on U.S.-Nigeria Industrial Collaboration
April 3, 2025 — Abuja, Nigeria
The American Business Council Nigeria (ABC) paid a courtesy visit to the Honourable Minister of State for Industry, Senator John Owan Enoh, and his team to explore deeper collaboration between the U.S. private sector and Nigeria’s industrial development agenda.
Led by ABC CEO, Margaret Olele, the delegation included Heads of Committees for Fast-Moving Consumer Goods (FMCG) and Information and Communications Technology (ICT). The meeting underscored shared goals to foster a more business-friendly environment and unlock new opportunities for industrial growth through strategic partnerships.
Key discussion points included:
Accelerating Nigeria’s Industrial Plan through investment facilitation and technical expertise
U.S. companies like Coca-Cola reaffirming support for Nigeria’s industrial policies and long-term growth
The role of U.S. tech leaders such as Microsoft and Cisco in advancing Nigeria’s industrial transformation via digital innovation, cybersecurity, and artificial intelligence
Margaret Olele emphasized ABC’s continued commitment to policy engagement and private sector capacity-building:
"Private sector participation in shaping policies and building capacity that accelerates diversification through industrialization in Nigeria aligns with the priorities of President Bola Ahmed Tinubu's administration. ABC remains committed to working with the Ministry and key stakeholders to support Nigeria’s economic vision and foster mutual growth."
ABC Hosts Strategic Dialogue with U.S. Ambassador and Consulate Officials
April 4, 2025 — Lagos, Nigeria
The American Business Council Nigeria (ABC) Board Members and Committee Heads held a high-level dialogue with U.S. Ambassador Richard Mills, hosted by Acting Consul-General and Commercial Counsellor Julie Marie LeBlanc, along with senior officials from the U.S. Consulate in Lagos.
The meeting was attended by Economic Counselor Christine H. Harbaugh, Economic and Political Chief Michael Ervin, Deputy Economic and Political Chief Kenise Hill, and other key members of the Consulate team, including Mayowa Obilade. The ABC delegation was led by Council President, Sops Felix Ideriah.
The session provided a platform for constructive engagement on recent developments affecting U.S. private sector operations in Nigeria. Discussions centered on updates from U.S. companies doing business in the country, and the evolving landscape of U.S.-Nigeria economic relations.
This ongoing dialogue reinforces the Council’s commitment to fostering strong bilateral partnerships and advocating for a resilient, transparent, and inclusive business environment in Nigeria.
Business Updates
Nigeria Launches African Trade Hub to Encourage Regional Business Ties
Nigeria has officially inaugurated the African Trade Centre (AATC) in Abuja, marking a significant stride towards fostering intra-African trade and economic integration in a move poised to reshape Africa’s economic landscape.
This was made known in a statement released by the FCAI Director of Information and Public Relations, Mohammed Manga, on Thursday, April 10, 2025.
According to the statement, the landmark event, held in the nation’s capital, Abuja, underscores Nigeria’s commitment to driving economic growth and solidifying its position as a key player in shaping the continent’s economic future.
Intellectual property protection in Nigeria’s agricultural sector
The agricultural sector is an important sector in Nigeria, with great potential to drive significant growth to the economy. There are various opportunities in the sector to create value which are largely untapped. One of these opportunities is with respect to the value that can be derived from the protection of Intellectual Property (“IP”) arising from innovative works- such as improved plant varieties, new food processing technology amongst other novel works- developed by players in the agricultural sector.
In view of the foregoing, we have set out in this article some IP protections available for innovative works in the agricultural sector to enable players in this space explore protecting their creative works and derive investment value amongst other value, from such protections.
Insurance experts seek adoption of AI
Stakeholders in the insurance industry must adopt artificial intelligence (AI) to change the customer experience in the country.This was stated by the industry’s players who gathered at the 13th yearly Nigerian Insurers Association (NIA) Chief Information Officer (CIO) 2025 in Lagos last week.
Speaking at the forum, the Chairman Nigerian Insurers Association (NIA) Information Technology Committee, Jackson Ikeibe, argued that automating processes could reduce operational costs, making insurance products more affordable. Ikeibe said AI has the potential to provide a new frontier of economic opportunity and stimulate sustainable growth.
How Nigerian businesses can leverage Agentic AI for growth and efficiency
Artificial Intelligence (AI) is revolutionising industries globally, and Nigeria is no exception to this trend. Businesses in Nigeria are increasingly exploring AI-driven automation to enhance efficiency, drive innovation, and remain competitive. However, AI adoption remains relatively low, as many businesses struggle to identify practical use cases that deliver measurable ROI.
A key emerging trend addressing this challenge is Agentic AI–a more advanced form of AI that enables businesses to create autonomous digital agents capable of handling complex tasks, optimising workflows, and improving decision-making. Unlike traditional AI models that react to user inputs, Agentic AI proactively learns, makes decisions, and automates entire processes, making it a game-changer for businesses looking to scale productivity.
Tinubu commissions Afreximbank African Trade Center Abuja
President Bola Tinubu has commissioned the Afreximbank African Trade Centre (AATC) in Abuja, calling for more commitment to build a stronger, more interconnected and prosperous Africa.
The President, represented by Sen. George Akume, Secretary to the Government of the Federation, said to achieve this, new trade corridors need to be unlocked.
He added that Africa must also reduce its dependence on imports and empower SMEs and women-led businesses through access to markets and finance.
Tinubu said that digital technology must also be harnessed to streamline cross-border trade and reduce inefficiencies.
“The AATC located in Abuja represents another milestone in this journey, and this aligns perfectly with Nigerians’ strategic priorities under the Federal Government’s 8-point agenda.
“This is particularly in the areas of job creation, economic diversification and regional integration.”
He said that in recognising the potential for growth and trade, the impact of Afreximbank interventions continued to be felt across the continent in the following areas.
Startup Updates
Village Capital Opens Applications for Greentech Africa Accelerator
Village Capital has launched the second edition of Greentech Africa, an investment-readiness accelerator aimed at early-stage startups developing climate and sustainability solutions in five African countries. The program will support 10 to 15 startups from Egypt, Kenya, Nigeria, Senegal, and South Africa with training, mentorship, and access to capital networks. Applications are open until May 9
Remita’s AI roadmap, a catalyst for Nigeria’s fintech future
Over the last decade, one of the brightest spots in Nigerian business has been the remarkable rise of fintechs. The fintech sector in Nigeria has fundamentally transformed financial services, most notably through the proliferation of mobile banking and digital payment solutions.
This transformation has significantly boosted financial inclusion across the nation, with user growth expected to reach an impressive 82.09 million by 2028, and has made substantial contributions to broader economic activity by enhancing productivity and fostering job creation. The fintech sector’s dynamism is further underscored by its attractiveness to foreign investment, likely exceeding that of other sectors in drawing startup capital.
Stripe - Economics of AI Fellowship
The economics of AI remains surprisingly understudied, even as technical progress in artificial intelligence continues rapidly. The Stripe Economics of AI Fellowship aims to help fill that gap by supporting foundational academic research in the area.
We invite graduate students and early-career researchers who are interested in studying the economics of AI to apply, regardless of prior experience. Fellows receive a grant of at least $10k, participate in conferences with leading economists and technologists, and have the potential to access unique data via Stripe and its customers. Our initial cohort will include 15-20 fellows, and will form the foundation of a community at the bleeding edge of economic research.
Y Combinator AI Startup school
YC is hosting our first-ever AI Startup School in San Francisco on June 16 and 17th.
AI Startup School will gather 2,000 of the top CS undergrads, grad students and recent graduates in AI to hear from the world’s top AI experts and founders. Apply to attend here.
This is a 100% free conference, and every attendee is hand-picked.
Perplexity for Startups program
Eligible startups receive $5000 in Perplexity API credits and 6 months of Perplexity Enterprise Pro for their entire team.
Llama Impact Grant for Startups and Researchers
In partnership with Data Science Africa, Meta is excited to announce the Llama Impact Grant for startups and researchers based in Africa. As part of Meta's global Llama Impact Grant Program, this initiative will support innovative projects that harness the power of Llama, Meta's cutting-edge open-source large language model, to develop unique solutions tailored to the region's needs.
OpenAI - ChatGPT Plus is free till May 31 - For students in Canada or the US
ChatGPT is now free for college students through May. This offer valid for student in the U.S. and Canada.
1 month free of Perplexity Perplexity Pro
Students get 1 month free of Perplexity Perplexity Pro
Pear AI Researcher Grant
Push the boundaries of your research towards solving real world applications and turning them into world changing companies. Join a community of like-minded entrepreneurial academics who have a passion for solving complex problems, pushing the boundaries of AI, and advancing knowledge.
Pear has a track record of backing incredible PhDs, PhD grads and Professors and helping turn their ideas into reality.
Applications for the AI Researcher Grant are open until April 30th.
Researcher Access Program application
We’re interested in supporting researchers using our products to study areas related to the responsible deployment of AI and mitigating associated risks, as well as understanding the societal impact of AI systems. If you are interested in an opportunity for subsidized access to enable a research project, please apply for API credits through this program(opens in a new window).
Note that this will take you to a third-party provider, SurveyMonkey Apply, where you’ll need to create an account to apply. The application will ask for information about your research question and planned use of OpenAI’s products to facilitate that research.
We encourage applications from early stage researchers in countries supported by our API(opens in a new window), and are especially interested in subsidizing work by researchers with limited financial and institutional resources. Researchers can apply for up to $1,000 of OpenAI API credits to support their work. Credits are valid for a period of 12 months and they can be applied towards any of our publicly available models.
Please note that applications are reviewed once every 3 months (in March, June, September, and December). Grants will take 4-6 weeks to credit to awardees after they receive their application decision. API credits awarded through this program expire after 1 year, and cannot be extended or renewed, so please ensure you complete your research within 1 year.
Before applying, please take a moment to review our sharing & publication policy.
We support responsible research related to the safety of AI systems, however, researchers are still bound to our Usage Policies and other applicable OpenAI policies, which require users to comply with the law and not to use our service to harm yourself or others, among a few other things. If you are conducting research related to safety and have received a warning or had your access to our services suspended, and you believe this was done in error, please submit an appeal through our help center(opens in a new window).
NVIDIA Grant Program
The NVIDIA Academic Grant Program advances academic research by providing world-class computing access and resources to researchers.
Anthropic Claude for Student Builders
To request API credits, please complete the form below to receive credits on a rolling basis.
Eligible for credits:
Using Claude Code for schoolwork or school projects
Using Claude Code to build a proof of concept or MVP
Building a student project with the Claude API
Not eligible for credits:
Using API credits for a job or internship
Upcoming Events
Unlock the Future of Fintech in Africa!
The U.S. Commercial Service invites you to the Access Africa Now: Fintech Webinar Series—a unique opportunity to explore emerging trends, gain market insights, and connect with key players in Africa’s rapidly expanding digital economy.
📈 Why Attend?
Learn about fintech opportunities in key African markets
Hear from industry experts and U.S. government officials
Expand your network and grow your business footprint in Africa
🗓️ Webinar Schedule:
April 29 – Ethiopia
May 6 – Nigeria
May 8 – Kenya & Mozambique
May 13 – Ghana
May 22 – Tanzania
June 3 – South Africa
June 5 – Angola
👉 Register now: https://lnkd.in/g25W5bZ8
If you’re a member of the American Business Council or a U.S. company seeking more details, feel free to contact us at info@abcnig.com.
Special thanks to Blake Murray, Ambrose Thomas, and Julie Marie LeBlanc for their support.
Let’s build the future of fintech together!
ABC Joins Africa Soft Power Summit 2025
The American Business Council Nigeria is pleased to announce its participation in the 2025 Africa Soft Power Summit, taking place from May 21st to 25th in Nairobi, Kenya.
This year’s summit will spotlight Africa’s tech and creative industries, alongside women’s leadership, bringing together influential voices and leaders driving change across the continent.
In partnership with the Council, Africa Soft Power is offering discounted tickets exclusively for ABC members and partners.
For more information or to access the discount, please contact:
📩 info@abcnig.com or Sophiat.Adeniyi@abcnig.com
