How Nigeria Could Be in Trouble if the U.S. Elects the Wrong President

The U.S. presidential election in 2024 could have an impact on Nigeria, especially in areas like trade and investment.

The new president’s decisions might affect how Nigeria does business with the U.S. and how much money is invested in the country. Here’s how this might happen:

Trade Between Nigeria and the U.S.

Nigeria sells goods like clothes and farm products to the U.S., and thanks to a special trade deal called the African Growth and Opportunity Act (AGOA), Nigeria can sell these items with lower taxes.

If the next U.S. president doesn’t support this kind of deal, it could make it harder for Nigeria to sell its goods in the country., which would hurt businesses in Nigeria.

But if the new president wants to keep trading with Africa, Nigeria could get more chances to sell its products, helping the country’s economy grow.

Investing in Nigeria

The U.S. invests money in businesses and projects in Africa, including Nigeria. If the next president encourages U.S. companies to invest more in Nigeria, it could create jobs, improve infrastructure, and help the country grow.

For example, new investments could help Nigeria in areas like technology, energy, and construction.

However, if the president focuses more on problems at home or in other parts of the world, Nigeria might get less investment. This could slow down the country’s progress and make it harder to create new jobs.

U.S. Influence on Nigeria’s Politics

The U.S. has a lot of power around the world, and its decisions can affect how stable other countries are. If the country keeps working closely with Africa, it could help prevent other powerful countries, like China, from having too much control in Nigeria.

But if the U.S. pulls back and stops focusing on Africa, it could cause more competition and instability, which might make Nigeria a less attractive place for investors.

How U.S. Economy Decisions Affect Nigeria

The new president’s decisions could also affect the global economy, which might influence Nigeria.

For example, if U.S. interest rates stay low, investors could look to put their money in places like Nigeria where they might get better returns.

But if interest rates go up, investors might keep their money in the country, which could mean less money for Nigeria.

Other Policies That Matter to Nigeria

The country sometimes helps Nigeria through programs that focus on things like energy, development, and aid. The next president could either continue these programs or stop them, depending on their policies.

Also, immigration policies could affect how much money Nigerians living in the U.S. send back home.

If immigration becomes stricter, fewer people might be able to work and send money to their families in Nigeria, which could hurt the economy.

While Nigeria’s economy is influenced by many things, the election could change how much Nigeria trades with the them and how much money is invested in the country.