Nigeria Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in nigeria, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Selling to the Public Sector
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Given foreign currency constraints, funding can be obtained locally from Nigerian banks. To a limited extent, insurance companies, building and property development companies, pension fund companies, and other institutional investors can also provide financing. Private equity firms also exist and can support projects. U.S. government financing agencies are active in Nigeria. The U.S. Trade and Development Agency (USTDA) provides financing for feasibility studies, while the Export-Import Bank (Ex-Im Bank) supports the export of goods made in the United States. The U.S. International Development Finance Corporation (DFC) is America’s development bank which partners with the private sector to finance solutions for the most critical challenges facing the developing world today. The African Development Bank (AfDB) also grants finance to certain operations of companies exporting goods from Nigeria. The AfDB channels these loans through the CBN to the Nigerian Export Import Bank (NEXIM), Bank of Industry (BOI), and licensed export financing banks.

Multilateral Development Banks and Financing Government Sales 

Price, payment terms, and financing can be a significant factor in winning a government contract. Many governments finance public works projects through borrowing from the multilateral development banks (MDB). A helpful guide for working with the MDBs is the Guide to Doing Business with the Multilateral Development Banks The U.S. Department of Commerce’s (USDOC) International Trade Administration (ITA) has a Foreign Commercial Service Officer stationed at each of the five different multilateral development banks (MDBs), including the World Bank and African Development Bank.

U.S. Export-Import Bank (EXIM) 

EXIM is actively seeking bankable projects to support in Nigeria, and is currently meeting with private developers, banks, and the government on a variety of sectors, particularly those related to infrastructure. EXIM offers direct loans, loan guarantees, and credit insurance tied to U.S. exports.

The U.S. International Development Finance Corporation (DFC)

DFC was established in 2019 through the passage of the Better Utilization of Investments Leading to Development (BUILD) Act, which strengthened and modernized American development finance. The BUILD Act combined the capabilities of the Overseas Private Investment Corporation (OPIC) and the Development Credit Authority which had previously been housed in the U.S. Agency for International Development (USAID). DFC invests in sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and female entrepreneurs to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. DFC offers equity financing, political risk insurance, debt financing, and technical development.

U.S. Trade and Development Agency (USTDA)

The U.S. Trade and Development Agency (USTDA) connects the U.S. private sector to infrastructure projects in emerging market by funding feasibility studies, technical assistance, and pilot projects that integrate the innovation and expertise of American companies. USTDA also connects overseas project sponsors with U.S. partners through reverse trade missions, industry conferences, and expert workshops. As of 2021, every $1 USTDA invested in its programs has on average generated $231 in U.S. exports. USTDA has facilitated $119 billion in U.S. exports since its founding in 1992, supporting over 4,000 infrastructure activities in 139 countries.

Since 1992, USTDA has supported over 80 activities in Nigeria, which have the potential to leverage more than $15 billion in financing. Overall, USTDA support in Nigeria has resulted in over $375 million total exports.

Project Preparation Activities

USTDA funds feasibility studies, technical assistance and the comprehensive analyses that infrastructure projects need to move from concept to financing and implementation.

Workshops

USTDA organizes sector and region-specific events to connect U.S. firms with foreign buyers, highlight upcoming infrastructure projects overseas and showcase U.S. goods and services.

Reverse Trade Missions

USTDA brings foreign project sponsors to the United States to observe the innovative design, manufacture and operation of American products and services to support their infrastructure development goals.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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