Ambassador Sanders Ringing Ringing Closing Bell at Nigerian Stock Exchange (NSE)

Daily Market Update –June 21, 2013

Photo L-R: Ade Bajomo, NSE’s ED, Market Operations and Technology; Oscar Onyema, CEO NSE; Ambassador Robin Sanders, former U.S. Ambassador to Nigeria; and Haruna Jalo-Waziri, NSE’s ED, Business Development at the Bell Ringing Ceremony by the former ambassador to Nigeria at The Exchange on Friday.

Money Market: Interbank Rates Flat on Maturing Bills
The interbank lending rates ended the week unchanged at an average of 11.33%, as maturing treasury bills and anticipated flows of public funds kept the market from tightening.

The central bank repaid about ₦160 billion ($990 million) on Thursday in matured open market operation debt notes, swelling liquidity.

"The cost of borrowing in the market had gone to an average of 14% for overnight in the week because of shortage of funds, but dropped on Friday after the cash flow from matured bills and expectation of budget allocation," a dealer told Reuters.

Dealers said the market opened with a cash balance of about ₦76.65 billion on Friday, compared with ₦136 billion a week earlier.

The secured Open Buy back (OBB) was unchanged at 11%, 100 basis points lower than the Central Bank's benchmark interest rate.

Both overnight placement and call money closed at 11.5% apiece, same level last week.

Traders said rates will drop to around 10.25% for overnight next week by the time cash from the May budget allocation to government agencies hits the market.

Nigeria distributes ₦620.7 billion in May revenues to its three tiers of government –federal, state and local, but bankers said half of the amount is expected to hit the money market by Monday, helping to provide liquidity support for the banking sector.

Stock Market: All-Share Index Depreciates
The NSE All-Share Index depreciated by 2.11% to close on Friday at 36,464.39 basis point while the market capitalisation of the listed equities on the main board also declined by 2.11% to close at ₦11.72 trillion. Also, the NSE 30 Index sheds 1.99% to close at 1,744.40.

A turnover of 1.63 billion shares worth of ₦21.68 billion in 30,952 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 3.73 billion shares valued at ₦75.87 billion that exchanged hands last week in 39,060 deals.

Meanwhile, the former United States of America Ambassador to Nigeria, Dr. Robin Sanders, paid a courtesy visit at the Exchange today during a Bell Ringing Ceremony.

OTC Market
A turnover of 272.82 million units valued at ₦310.62 billion in 1,903 deals were recorded this week in contrast to 184.033 million units worth ₦206.53 billion in 1,179 deals recorded in the preceding week.

- See more at: http://www.myfinancialintelligence.com/banking-and-finance/daily-market-update-%E2%80%93june-21-2013#sthash.5RAWP02I.dpuf

Six Nigerian Governors Discuss: Business, Investment & Development in Their States

H.E. Rotimi Chibuike Amaechi – Chairman of the Governors’ Forum, Governor of Rivers State
H.E. Ibrahim Shehu Shema – Governor of Katsina State
H.E. Liyel Imoke – Governor of Cross River State
H.E. Gabriel Suswam – Governor of Benue State
H.E. Owelle Rochas Anayo Okorocha – Governor of Imo State
H.E. Ibikunle Amosun – Governor of Ogun State
Ambassador Herman J. Cohen – President of Cohen and Woods International, retired from the U.S. Department of State in 1993
Wale Adeosun – Founder and Chief Investment Officer of Kuramo Capital Management, LLC
Ambassador Robin Renée Sanders – Career Member of the Senior Foreign Service, served in Nigeria beginning in December 2007
Steve McDonald – Program Director for the Africa and Leadership and State Capacity Building Programs of the Wilson Center
Although Nigeria is often thought of in terms of oil production and a legacy of military governance, recent democratic gains combined with anticorruption initiatives and a focus on development which are opening the country to investment in “non-oil” business and development ventures. In keeping with Africare's Policy Series and Constituency's For Africa's Ron H. Brown Series, the Wilson Center's Afrca Program hosted six Nigerian Governors who have been and continue to be instrumental in creating and advocating economic and human development in their respective states. Ambassador Robin Sanders introduced each of the governors and said that she had “had the wonderful opportunity to visit all of their states many times and by far to [her] they are the dynamic, key governors that are doing incredible things in their states.” Ambassador Herman Cohen moderated the first panel discussion and quipped that the occasion was special, “because during my long career in diplomacy … and [having] interacted with many high government officials from the top and all of them were not elected people. They were all people mostly from the military and it is a privilege to be in the presence of people who were elected and are accountable to their constituents.” Each Governor proudly presented the opportunities in their state and encouraged private and public investors to forge lasting partnerships with the Nigerian people in order to ensure a strong, stable, and internationally significant Nigeria.
Panel 1
H.E. Rotimi Chibuike Amaechi
Despite a volatile past, the Nigeria of today is fertile ground for business and investment, and analysis of the current conditions will show not only the need for development within certain sectors, but also the eagerness of the local population to participate in these ventures. Nigeria’s population of 140 to 150 million people is composed of a variety of ethnic and religious groups, which interact freely and harmoniously to make a dynamic and efficient workforce. Though consideration of the needs of the local population is key in business decision-making, other factors must also be weighed including environmental protection and the reality on-the-ground. Oil is doubtless the main Nigerian export, leaving the national economy dependent on its production and distribution. One of the cardinal priorities of the current class of elected officials is to reduce oil dependence and diversify the Nigerian economy by developing the agricultural sector and creating jobs in manufacturing and tourism. This diversification would lead to job security and a more competitive and stable Nigeria, thereby increasing regional and international confidence in the country. Past spats of violence and tumult have shaken investor confidence and left valid questions in the minds of many risk-averse practitioners. But, peace in the delta is beginning to take hold and can be seen through the recent rise in oil production. Each Nigerian state is endowed with different assets that should be carefully considered by potential investors and business partners. Rivers State has a population of five million and is the largest oil and natural gas producer in the country. Governor Amaechi characterized this abundance of natural resources as a blessing and a curse for the state. Oil production in Rivers has stimulated economic growth and employment opportunities for the state, but it has also given rise to environmental degradation and pollution in certain areas. Additionally, there has been a gulf between the wealth generated by this industry and the actual income of the population, which must be resolved. The potential for development within the power and agricultural industries could address this issue and alleviate some of the economic disparities among the local population. Rivers State has made progress in the education and health care sectors, yet there is always room for improvement. A recent partnership with an Indian firm has led to the modernization of the school system, bringing it up to UNICEF standards. Availability of and access to healthcare has also been a priority, and medical tourism is an option under consideration by local officials.
H.E. Ibrahim Shehu Shema
The Governor of Katsina spoke about his state of six million people and described the possibilities that investors could explore within its borders. Katsina State is particularly rich in minerals including precious stones, including diamonds, yet the extraction and refinement industries within the state are underdeveloped. There are also vast opportunities for modernization and expansion within the agricultural sector. Farming is the principal source of livelihood in Katsina, and any advances made would have a direct, positive impact on the local population. Nationally, agriculture is one of the largest contributors to Nigeria’s GDP and, is, therefore, an area that, if properly developed, could provide sustainable and productive occupations for many Nigerians. Compared to other Nigerian states, Katsina lacks abundance in oil reserves, which has led to the diversification of the energy sector and investment in alternative power sources. Currently, a substantial wind power project is being realized to harness energy through more environmentally sound methods. This sector has ample room for growth. In conclusion, Governor Shema emphasized his commitment to providing commercial and industrial incentives to encourage business partnerships in his state. “We have the ambition to ensure that our people are productively employed,” he stated, “and that our resources are well-harnessed for the well-being of all in Nigeria.” “If we harness agricultural resources well, along with oil resources and minerals, I have no doubt that Nigeria’s quest for development by 2020 is achievable,” the Governor asserted.
H.E. Liyel Imoke
Cross River State is one of the most dynamic states of Nigeria and is heralded as one of the “cleanest and greenest” in the country. Moreover, Cross River’s economy is growing faster than the nation’s economy at 6.33% due to its plenitude of minerals and natural resources. It is also host to one of the largest tropical forest in Africa which offers an added level of biodiversity in the natural environment. Cross River State encompasses three different climate zones allowing for a range of agricultural variety that constitutes 42% of the state’s GDP. In addition to the agricultural offerings of the local environment, the prospect for tourism is optimal in the state that boasts of having “Africa’s warmest welcome.” As a result of significant foreign investment, this sector is slowly growing and shows promise for extensive job creation. In conjunction with the drive to boost tourism in the region, Governor Imoke highlighted the need for investment in education and professional training, notably in the service industry. Cross River is home to a sizable skilled and educated (over 1.8 million literate) workforce, and skill-specific training would increase their ability to shift towards a more service-driven economy.
Panel 2
Wale Adeosun, Founder and Chief Investment Officer of Kuramo Capital Management, moderated the second panel of Governors and stated that “as an investor, this event is a testament to what is happening in the country. To invest in the country, the key issue that everybody worries about is political stability and political risk. As you have seen from the [governors]… the political transition in Nigeria is a strong testament to what the future holds for the country.”
H.E. Gabriel Suswam
The crop-rich state of Benue is often called the “breadbasket” of Nigeria. Eighty percent of the 4.7 million people who inhabit the state earn their livelihood from the land, rendering agriculture development the core focus of elected officials within the state. Farming education and training are provided to the local population by the Federal University of Agriculture, Makurdi and the Akperan Orshi College of Agriculture. Also, Benue has a wealth of coal, limestone, and salt deposits, and has a large beach corridor that is virtually undeveloped. Benue State is also extremely culturally vibrant, and in tandem with its picturesque beach properties have led the region’s leaders to prioritize tourism in development planning as an expanding industry that holds promise for the people and economy.
H.E. Owelle Rochas Anayo Okorocha
Imo State shares many of the characteristics of other Nigerian states i.e., agricultural wealth, gas resources, and abundant, inexpensive labor, yet Governor Okorocha took pains to discuss the features that set Imo State apart from the others. First and foremost, education is the key focus of this region, and elected officials consider investments in this sector to be vital. The manpower and framework are already in place, but they lack the financing necessary to build the desired educational system. Within this system, officials hope to establish a network of professional schools and special training programs to equip a new generation of Nigerians with a skill set that can build and sustain competitive, market-oriented industries. To achieve this goal, potential investors will be incentivized by free land, 15-year tax exemptions, and work visas. Moreover, with specialized training and skills, the manufacturing industry in Imo will be able to grow beyond its current state.
H.E. Ibikunle Amosun
The bustling region of Ogun is often referred to as the “gateway state” due to the large, busy highway that adjoins disparate parts of the state. Agriculture, commerce, and industry are the strengths of Ogun, and local products are distributed with ease throughout the country via the transnational highway. Governor Amosun highlighted the particular fertility of the land in Ogun state with proclamation that “everything grows here!” He articulated the integrality of agriculture to the Nigerian economy and spoke of his desire to have a more open trading environment to facilitate the distribution of Nigerian goods. Furthermore, his ambitious goal of five hundred new investors over the next few years was emphasized by promises of land donations, legal permits, and tax incentives. Ogun’s strategic location, infrastructure, and natural resources combined engender a vast economic potential and demonstrate the positive changes that are taking place in Nigeria.
Concluding Comments
The government of Nigeria is making a concerted and deliberate effort to diversify the economy in order to provide Nigerians with legitimate, sustainable career paths. Past media attention has focused on the corruption, violence, and illicit practices of the informal economy that has plagued the country, but the government now hopes that new developments will allow the media to show a new emerging face of Nigeria. By providing Nigerians with education, healthcare, and professional opportunities, the prominence of the shadow economy will shrink dramatically. Further, decisive steps to rid the government of corruption have been taken and, in effect, transformed the public sector into a more transparent, proactive entity, and raised the prevalence of elected officials that are accountable to the people of Nigeria. This is providing a new democratic environment that hopefully fosters solid and fruitful business relations. Although the advent of an entirely stable political and economic environment is far from complete, consequential progress has been made, and a welcoming and advantageous business climate for foreign investors is on the rise.

On the Road in Northern Nigeria in Support of USG Advocacy for Inter-religious Dialogue, Health Sector Improvement, and Cultural Preservation – One Year After President Obama’s Cairo Speech.

On June 7-9, 2010, I travelled to the northern part of Nigeria to visit Katsina, Sokoto, and Borno States to further build U.S.-Nigeria relations. I had the opportunity to dialogue with traditional rulers, community and civil society leaders.

The first stop was Katsina on June 7. I used the opportunity, while in Katsina, to pay a condolence call on behalf of the U.S. Government, on Hajia Dada, the mother of the late Nigerian President, Umaru Musa Yar’Adua. I also visited the 100 year old Gobarau Minaret (originally built 500 years ago). This historic monument was originally a mosque, and then became a center for learning and a lookout point to spot invading armies. The US Government is providing a grant to rebuild the minaret and protect its proud heritage through the Ambassador’s Fund for Cultural Preservation. I also called on the Emir of Katsina, Alhaji Abdulmumini Kabir Usman, in which he strongly emphasized that continuous interaction between Christian and Muslim communities was vital to foster peaceful co-existence amongst the two religious groups.

In Sokoto, on June 8, I paid a visit to His Eminence, the Sultan of Sokoto, Alhaji Muhammad Sa’adu Abubakar, and commended him for his tremendous leadership role he has played in the Polio Eradication Initiative in northern Nigeria. We also discussed ways to involve traditional leaders in efforts to address other health-related problems such as HIV, malaria, and tuberculosis, in order to improve the health conditions and lives of people in northern Nigeria.

In Borno, the focus was on mutual understanding as I met with the Shehus of Borno and Dikwa and students at the University of Maiduguri to restate the importance of President Obama’s Cairo Speech on New Beginning for America’s engagement with the world -- across nations, peoples, religions and perspectives. She also toured the historic Rabeh’s Fort at Dikwa, North East Nigeria, to learn more about Borno’s rich cultural and religious traditions. The Fort which is now a National Monument was built in 1894 by Rabeh Ibn Fade-Allah, as his headquarters after successful invasion of the Borno Empire. The story of Rabeh’s exploits and death is of great historic importance in the remaking of the present Borno.

Similar to my first visit to the Shehu of Borno’s palace in Maiduguri, about a year ago, I was given a warm traditional welcome by traditional drummers and trumpeters on the evening of June 8, 2010 when the Shehu of Borno, His Royal Highness, Alhaji Abubakar Ibn Umar Garbai El-Kanemi received me. Similar courtesies were accorded on June 9 when the Shehu of Dikwa, His Royal Highness, Alhaji Muhammad Ibn Masta II received me in his temporary palace in Dikwa and also presented me with the royal ci-ma-yi dress underscoring his appreciation for the first visit to the palace by U.S. Government Official since his coronation in March 2010. The conversation with the two traditional leaders focused on efforts by the U.S. Government to support the Borno community in health, education and agriculture and to reach out to diverse communities to build mutual understanding, interfaith dialog so that we can all live “as part of human kind in -- harmony, in peace, and in prosperity.”

Also while in Borno, I made my second trip to the University of Maiduguri to have a roundtable with a diverse group of Muslim and Christian students to talk about their views and feelings about the U.S. It was an interesting hour and half where students made both positive comments and raised areas of concern, particularly regarding Nigeria’s upcoming 2011 elections. We talked through the issues and I noted how important it was to appreciate that mutual understanding did not mean we had to agree on everything, but what it did mean was that we respected each others’ views and perspectives. I also stated that “through our partnership we have continued to support all Nigerians to strengthen democracy, encourage free, fair and transparent elections in 2011, fight corruption, encourage good governance, respect for human rights, invest in the people of this great country through our health, education and youth leadership and economic empowerment programs, promote women’s rights and girls education, respect for the diversity of religion, diversity of political views and the diversity of perspectives on the world.”

I told the students that as the youth and future leaders of Nigeria, they must show commitment to building a better future for their country and think deeply about what positive legacies they want to pass on to their children fifty years from now. We ended the session with me noting that Nigeria was one of the U.S. Government’s best friends and thus we wanted the best for Nigeria, especially for the 2011 elections.

American Business Council Host Roundtable meeting with Ambassador Sanders

I had a business roundtable meeting on April 21 with the American Business Council (ABC), whose members are U.S. companies operating in Nigeria. This forum provided me the opportunity to discuss key economic and political developments in Nigeria and to address other topics of interest to American companies operating here.

In meeting with the ABC group, I was able to share information on recent developments with the members and they were also able to bring me up to date with their issues and concerns.

Discussion topics included the recently signed Binational Commission (BNC) and its areas of focus; the just-concluded visit of Acting President Goodluck Jonathan to the United States; the advancement of U.S. investment and business opportunities in Nigeria; the current business investment climate; and an exchange on industry operational challenges.

Hopefully, these types of meetings will be ongoing as they are helpful for all participants. Exchanges like this assist in advancing the strategic economic partnerships between Nigeria and the United States and promote a level playing field for U.S. interests in Nigeria.

My Interview with Allafrica.com

Nigeria: 'We Want Nigeria to Succeed,' But Nigerians Have to Want That Too - U.S. Ambassador (April 8, 2010)

Interview

The failed attempt on December 25, 2009 by the young Nigerian, Umar Farouk Abdulmutallab, to detonate hidden explosives on a flight to Detroit created an additional layer of complexity for U.S. relations with Africa's most populous nation and leading oil producer. Managing those ties day to day is the job of Robin Renee Sanders, the U.S. ambassador to Nigeria. Sanders is a career foreign service officer who was appointed to the post by President George W. Bush in late 2007 and previously served as ambassador to the Republic of the Congo (Brazzaville). The Abdulmutallab incident led the U.S. government to add Nigeria to the 'country of interest' list, which resulted in increased scrutiny of Nigerians flying to the United States and angered many Nigerians who felt their country was being unfairly punished.

This week, the U.S. administration took what Secretary of State Hilary Clinton called a "concrete step forward that will strengthen and deepen the partnership between our two nations" with the launch in Washington, DC of the U.S.-Nigeria Binational Commission. The high-level forum includes working groups on good governance, transparency and integrity; energy and investment; food security and agriculture; and Niger delta and regional security cooperation. Next week, Nigeria's acting president, Goodluck Jonathan, is scheduled to visit Washington to take part in the Nuclear Security Summit at the White House, where he is also expected to have talks with President Barack Obama.

Prior to departing for Washington to take part in the launch, Sanders, in her first interview since the December incident, spoke with AllAfrica's Reed Kramer about the current state of relations between the two nations. Excerpts follow:

Acting President Jonathan has asked President Obama for a reconsideration of the classification of Nigeria as a 'country of interest' with regard to terrorism. Has Nigeria taken steps that would assist in that regard?

The country-of-interest process is an ongoing inter-agency review here and in Washington. One of the things that Nigeria has done is sign an air marshal agreement with the United States. We see that as a step in the right direction. Also, Nigeria does not have counter-terrorism legislation. We've been in dialogue with them on that. They are in the process of installing body scanners around the various airports in Nigeria. We worked with them on body scanners, and even before the incident of December 25 we had installed five scanners at their international airports in partnership with them. They're installing additional scanners and training their personnel to use them.

How do you assess the security situation in Nigeria now?

The Nigerian government is realizing they are not immune to the global terrorist threat, and it is working hard with us in sharing information and having dialogue on these global threats. We have a good cooperative relationship.

How will the Binational Commission contribute to improved relations between the United States and Nigeria?

The secretary of state when she was here in August highlighted a new strategic framework. With the commission, we are moving that forward in a more formal manner where we have a working dialogue on issues ranging from democracy and good government to anti-corruption and credible elections.

What is your view of how the Nigerian government is functioning?

There's a general sense that Nigeria remains fragile. It is an uncertain environment right now, but there have been some indications over the last couple of weeks that give us hope that things might be moving in the right direction. We want Nigeria to have credible elections, put a framework in place to fight corruption, put a framework in place to strengthen its democracy. These are paramount issues moving forward. We hear that from Nigerians all across the country. They want to believe in elections; they want to have a transparent government; they want to have institutions that can propel the country's economy and political system forward. With a new cabinet in place, we are hoping that these issues can be addressed in a coherent and cohesive fashion with ministers that are capable, diligent and forthright in their efforts to be representative of the Nigerian people.

Has there been any progress in preparing for elections?

We noted that the unedited election reform committee report recently went forward to the national assembly. The committee report has been edited and presented in many forms, edited. We were delighted to hear that the acting president finally sent that report to the national assembly unedited. Action on election reform is now in the hands of the national legislature. The U.S. and the United Kingdom jointly funded an independent electoral assessment early this year at the request of the Nigerian government, and that's all part of this process of looking at election reforms and committing to credible elections.

In my conversation with the acting president, he's very clear that one of the things he wants to do is to make sure that the voices of the Nigerian people are heard and credible elections are held here in Nigeria. Moving the unedited report to the national assembly is certainly a step in the right direction. Of course, there are other needed steps. We would like to see an Independent National Electoral Commission that is really independent and really transparent, which is key to its ability to hold elections that people can believe in. This was not the case in 2007.

What has been the reaction to recent outbreaks of violence in the north and what additional action should the Nigerian government take to avoid future problems?

We've just had [a visit] by the U.S. Commission for International Religious Freedom [a U.S. government entity whose bipartisan members are appointed by congress and the president].

They were engaged with a cross-section of interlocutors. I attended those meetings, and it was interesting to see the seriousness with which elements of the government are responding. Arrests have been made, which is a departure from the past in terms of how quickly they've done that.

Interfaith leaders here are engaged in addressing the crosscutting issues that seem to encourage the cycle of violence in the Jos area every couple of months. There's a myriad of challenges which the interfaith leaders are trying to address – economic and land issues, religious, sectarian and ethnic issues. I know it often gets boiled down to one or two issues, but there is a broad spectrum of problems that can spark violence. We all want to see the fundamental issues that keep causing these cycles of violence addressed.

The international community, including the United States, has offered humanitarian assistance. If we receive an official response from the Nigerian government, we are prepared to do that, particularly with regard to shelter and the needs that have come out of the violence there. We are working with number of partners in the Jos area to address some of those issues. We are in dialogue constantly with faith leaders to be supportive of their actions to address the issues.

What is your assessment of the Nigerian economy at this time and how that is impacting the country?

Nigeria needs to address corruption issues in a more comprehensive fashion. We do see the ongoing banking reforms as a step in the right direction. We recognize that several of the banks' leadership took advantage of the shareholders, and we hope that those individuals are brought to justice. That should help to underscore that corruption will not be the order of the day.

Looking at the indicators for economic growth, Nigeria is not doing too badly, given the global economic situation. Part of that has to do with the banking sector reforms. There has been some growth outside the oil sector that has helped Nigeria as well, including a slight increase in exports to the United States of products under the African Growth and Opportunities Act. So we see that the macroeconomic policy framework is in place and is making a difference even in this very difficult global financial environment. I'm not saying that it's perfect. I am saying that there are some reforms that are ongoing that we think are the right reforms to do, particularly in the banking sector.

What about situation in the Delta region – the oil-producing area in Nigeria?

The amnesty the ailing president put in place last year has pretty much held up until recently. We've been in dialogue with the Nigeria government about moving forward so that they don't have a roll-back on the amnesty dividends. The acting president has met with militant leaders, which we're hoping is an indication that efforts have been restarted to not only keep the amnesty but to try to broaden that to re-integration and rehabilitation of the young men and women that were active in militancy so that the Delta can have a future that is peaceful, stable, and create an environment for education and development.

Will Nigeria, which currently accounts for 15 percent of U.S. petroleum imports, continue to be a reliable supplier of oil to the United States?

Yes. Until there's a comprehensive peace environment in Nigeria that's longstanding, there will always be ups and downs on security challenges. But I think that Nigeria will remain a reliable partner in that area.

But I want to say something broader than that. There's tremendous potential for Nigeria, not just as a strategic oil partner with the United States. Eighty percent or more of its population is agriculture-based, and Nigeria has the potential to feed itself and to be an exporter of agricultural products. If you think of Nigeria as an emerging market, as I do, there are a number of other areas for potential growth - from infrastructure development to information science and technology, IT. I don't want us to lose sight of that.

Do you see increased interest on the part of American and other foreign investors in those potential areas of growth in the Nigerian economy?

Yes, particularly in IT and agriculture. My personal focus is on agriculture. I've traveled around and seen the potential in that sector. We have a food security program of about 25 million dollars. [One aspect] is a market program, which has helped with the rural-to-urban movement of agricultural products. [It] is reaching 10,000 or more farmers, increasing yields of key crops such as yams and cassava [and] providing jobs in the agro-business sector.

We have a strategic agriculture forum once a year in partnership with a number of private sector institutions to look at developing agriculture infrastructure and agro-business, so that the bulk of the population can change the paradigm of their lives by ensuring that they have income not only for their families but also to introduce entrepreneurship into their communities and into the agriculture sector.

We see more and more American investors moving into the agriculture sector and into the IT sector, and we're encouraged by that. But I would also like to say that we don't have enough Americans here. This is a dynamic and creative environment. The emerging market potential here for American investors is tremendous, and we need to encourage many more Americans to come here and look at these sectors as potential areas of growth for their own businesses.

Whatever the country's potential, would you agree that Nigeria's negative image discourages investment?

Clearly, the image issue is something that Nigerians grapple with all the time. We as partners can work with them on some of those issues, but we can't want more for Nigeria than Nigeria wants for itself. We want to see a stable and prosperous and democratic Nigeria with credible elections, but we can't want that more than Nigeria wants it for itself. We have heard from Nigerians that they want a stable environment, they want a prosperous nation, they want investment. But you're absolutely right; the framework has to be there to make that happen.

We consider Nigeria an extraordinary friend of the United States of America and the American people. We want to see Nigeria succeed.

Source: http://allafrica.com/stories/printable/201004080001.html

Ambassador Sanders' Remarks: The “Elements of Democracy”

The “Elements of Democracy”

The Way Forward in the U.S.-Nigerian Bilateral Relationship

U.S. Ambassador Robin Renée Sanders' U.S. Foreign Policy Address to The Hubert H. Humphrey Fellowship Program, Alumni Association, Nigeria
November 19, 2009 – Lagos, Nigeria

It is indeed an honor and a pleasure to be with you this afternoon. I look out before me and see first so many friends, as well as Nigerian leaders of industry, civil society, academia and government, and of course it is my pleasure to share the high table with His Excellency and my dear friend -- Governor Babatunde Fashola. Governor, I want to take this public opportunity to recognize you and your team for all the wonderful work that you are doing in Lagos City and Lagos State. With every visit I make to the state, I see the incredible growth and changes. I also want to thank you for working with my team on a number of issues from investment, to development and trade.

This brings me to the alumni of the Hubert H. Humphrey Fellowship Program, one of our most prestigious educational training programs that has helped build the capacity of Nigerians working in fields as far ranging as banking and legal services, to environment and e-government. I appreciate being invited here to speak on the U.S.-Nigerian bilateral relationship and the way forward as part of the 30th anniversary celebration of this unique program – the Hubert H. Humphrey Fellowship Program -- named after one of our foremost leading senators and vice-presidents who believed strongly in the pillars of democracy from good governance, and transparency in election processes, to education and training. Thus, he created this wonderful program to build leaders – such as yourselves -- who hold the future of their country in their hands. As global citizens, today more than ever before, Africa is a fundamental part of our interconnected world. You know that and I know that. The U.S. Government has recognized this, which is why President Obama has highlighted that Africa is at the center of our foreign policy. And within that framework, Assistant Secretary of State for Africa Johnnie Carson further added that Nigeria is the single most important country within that framework.

I am here today to underscore these two key points to you– that Africa is key in our U.S. foreign policy and that Nigeria is the single most important country therein. That is why I want to talk to you today about not only what we are doing and have done, but where we are going in the bilateral relationship between our two great nations, particularly after the August 2009 visit to Nigeria of Secretary of State Clinton where it was announced that our two governments would form a Binational Commission (BNC). So let me begin with -- What We Are Doing and Where We Are Going:

If you remember, in his speech to Africa in Accra, and I brought commemorative copies of the President’s speech with me today President Obama focused on four critical areas regarding our future relationship with the Continent. These four areas are building: democratic institutions and health systems; resolution of conflicts; and supporting governments that are transparent and fight corruption. These themes are the four pillars at the core of the U.S.-Nigeria Framework for Partnership and define our bilateral relationship with Nigeria where want to see a more democratic, transparent, prosperous and secure Nigeria. Our current engagement extends across the length and breadth of this nation -- particularly in rural areas -- with programs in all 36 states and the Federal Capital Territory. Let me share just a few examples with you. What exactly is the U.S. policy in Nigeria and with Nigerians?First and foremost it is promoting democracy, at all levels of government. Paramount in this is encouraging good governance, transparency and integrity, including fighting corruption, holding transparent elections and working with civil society and a free, unencumbered press.

How do we go about doing these things?

On good governance, with government, civil society and press partners, we are:

• Assisting in building national, state and local government capacity focusing on transparency in fiscal budgets and public procurement;
• Working with and supporting the recent efforts on transparency particularly of the CBN, FIRS, SEC, ICPC, and the Code of Conduct Bureau and others on fighting corruption.
• Holding capacity building workshops on best practices on election reform, including training for the National Assembly, political parties, the disabled, and women.

This includes:

• Working with civil society and the press to help them expand their capacity to monitor elections, and be the voice for the voiceless, and supporting their efforts to publish the Electoral Reform, or Uwais, Committee’s report.

Economic development is another important anchor in a democracy. Thus, we are providing training and technical assistance in agriculture, entrepreneurship, vocational training, and other income-generating skills. For example, under the Ambassador’s self-help program, we are supporting a great project, The Foundation for Skills Development, right here in Lagos State that provides a variety of vocational training classes.

Given that more than 95 per cent of the Nigerian population is involved in agriculture, the President has launched a Food Security initiative with $25 million this year alone for Nigeria. This key initiative will provide jobs, build capacity, and increase yields in the agricultural sector. For example, in 22 states, under our agriculture and food security program, we are helping small farmers double their productivity and increase income. I have been to all of these states to see our programs in places from Benue and Bauchi, to Anambra , Ondo , and Jigawa. President Obama’s Food Security initiative in Nigeria will:

• Increase the sales of agricultural products by $220 million for 750,000 farmers, processors, and shippers, of which 300,000 are women.
• Bring in the private sector , increase credit to farmers , and improve rural-to-urban roads (e.g. Lagos-Maradi/Lagos-Cotonou routes);
• Create 50,000 new jobs in the sector; and,
• Increase agriculture and yields of key grains 50-75 per cent.

Without enough food, adults struggle to work and children struggle to learn. According to the World Bank, for every one percent growth in agriculture, poverty declines by as much as two percent.

Another key aspect of economic development is trade. We are expanding our efforts to promote the export of Nigerian non-oil products to the United States under the African Growth and Opportunity Act or AGOA program. As part of our continuing efforts on AGOA, the U.S. and Bank of Industry opened an AGOA Resource Center last summer on Lagos Island. Please take advantage of the resources at this Center. It was requested by you and we have responded. [AGOA has not achieved its full potential here, but we have reached out broadly to the Nigerian business community to expand its understanding of the opportunities available under AGOA. We are willing to roll up our sleeves and work with you so that you can reap the full benefits of AGOA here in Nigeria.]

We have held two major nation-wide capacity building training workshops , called POTICO , right here in Lagos on both agriculture and AGOA with BOI, representatives from USG agencies including EXIM, USTDA, OPIC, and our Agricultural and Commercial Services, FAS, and USCS. We are also launching a new Nigeria Expanded Export Program or NEEP, which will connect Nigerian exporters with partners in the US and we are also maintaining our trade mission under USCS and FAS. We all know that the most important resource in this country is its people. You know that and we know that. This is why, as President Obama has said, our programs must invest in the people of Nigeria particularly in education and health:

On education, under the President’s $600 million African Education Initiative, we are providing scholarships to over 2,200 students in 316 schools in 13 states around Nigeria. I have spoken with children and parents first-hand from Borno to Port Harcourt about how these scholarships have changed their lives. We have also provided teacher training to some 40,000 teachers, helped develop curricula and expanded educational training opportunities through our 12 American Corners around the country. Our newest corner is the Barack Obama American Corner in Lagos on Victoria Island.

On health , and as we approach World AIDS Day on December 1 , I want to note our contributions through the U.S. President's Emergency Plan for AIDS Relief , more commonly known as PEPFAR , which helps millions of Nigerians living with or affected by HIV/AIDS.
In addition, as part of our people-to-people efforts, particularly at the grassroots level, we are working to refurbish health clinics, build boreholes, renovate schools, and construct vocational training centers.

On energy, America has placed a new emphasis, under President Obama’s leadership, on addressing climate change, through programs like the gas-to-liquids technology project in the Niger Delta; and power projects through the Michigan State Public Service Commission. We are also encouraging a constructive Petroleum Industry Bill on fiscal, investment, and tax issues that will help Nigeria.

Turning to one other very important subject area -- peace and the amnesty. First, we want to commend the people of the Niger Delta and the Government for finding a way out of the conflict. We hope the country continues to build on these efforts and we encourage further and quick movement to identify appropriate reintegration and rehabilitation programs. Here, we also want to be partners, and look to find ways to be helpful with programs ranging from IT , education , agriculture , health and maritime security.

These four pillars are the “Elements of Democracy”. And, Democracies cannot move forward without these things: good governance, particularly a corruption-free environment and transparent election processes; economic development; strong educational and health systems; and a peaceful enabling environment.

We are here as friends and partners and the “Elements of Democracy” I have highlighted above reflect both the opportunities and challenges for Nigeria. So as your friend and your partner where do we go from here and what is next?

You know the challenges well. You confront them every day. Overcoming these challenges is essential if Nigeria is to realize its tremendous potential. As friends and partners, let's examine these challenges facing Nigeria that we have heard you, as Nigerians, talk about in such forums as government, civil society, and the vibrant press.

From what we have heard from you as Nigerians; there seems to be broad agreement on the need for electoral reforms prior to the April 2011 elections. Although the unpublished recommendations of the Electoral Reform Commission (ERC) were to be a starting point, many are concerned that reforms will not be in place in time for the upcoming elections. We understand through civil society, academics, legal expert, and members of the ERC (or Uwais committee) and others that key elements of the election reform agenda should be adopted, with the goal of having them fully implemented in time for 2011 elections. We understand these reforms include a transparent voter registration, logistics planning, and better electoral administration, to name a few.

The upcoming gubernatorial elections in Anambra State will be a key indicator of the country's ability to conduct credible elections in 2011. Much of the international community will be observing how this election unfolds.

Civil society is an important partner in electoral reform and plays a critical role in election monitoring. [In several CSO coalition meetings, there have been calls for free and open domestic and international electoral monitoring in 2011 , including freedom of movement, accreditation of observers , and access to polling and counting stations.]

The second critical challenge is to contain corruption. Widespread, systemic corruption can undermine governance at all levels. I know you saw, like I did, yesterday’s Transparency International’s report where Nigeria moved up the list not down to 130 from 121. While no country can claim to be free of corruption, experience across many countries and many cultures shows that persistent, systemic corruption will be eliminated where there is strong political will to oppose it.

Corruption is the enemy of progress. It translates into high costs for poor quality services to the average Nigerian, siphons funds from important projects, cripples government performance and accountability, discourages the payment of taxes, is a disincentive to investment, and undermines democracy.

The fourth critical challenge is to achieve effective reform of the power generation and hydrocarbon sectors to improve transparency, administration, performance, and have reliable and affordable energy.

The final challenge we have heard Nigerians talk about, is the need to ensure long-term food security for all Nigerians. You are a vast and rich country of nearly 150 million people. I have seen this first hand visiting 35 of your 36 states. Food security reduces hunger and cannot be accomplished by short-term interventions Key efforts toward mechanized farming and credit to farmers is vital. We have several credit programs through FAS and EXIM Bank that help do this.

So, as your friend and your partner: Where do we go from here and what is next?

There is much we can do together, and we are hoping to address both the opportunities and challenges with you under the Binational Commission, or BNC, mentioned earlier and announced during Secretary Clinton’s visit. Already, our two governments are working hard to establish this commission.

We are hoping that the BNC will raise the level of engagement between our two nations on the key areas of governance, election reform, transparency, to fight corruption in these areas, development and security, to support efforts in the Niger Delta, energy, and agriculture. Through ongoing working groups that we hope will be established under the BNC, we can work together to address these challenges. I have already highlighted to you what we are doing and what we can do to support these “Elements of Democracy”.

Thus, together we can:

• Achieve free, fair and peaceful elections in Nigeria in 2011 and beyond.
• We can fight corruption through credible institutional reform and sustained and effective prevention, detection, investigation and prosecution efforts;
• We can provide tangible development, economic and educational opportunities, and training to the people of the Niger Delta to promote lasting peace from today forward;
• We can improve transparency, administration, and performance of the power generation and hydrocarbon sectors; and
• We can ensure long-term food security for all Nigerians.

The road ahead for any democracy is not easy. We too, in America, have seen our nation transform over our history. And today, we are still a nation transforming but built on and committed to these “Elements of Democracy”. I have always marveled at the incredible talent in Nigeria. Nigeria is a country filled with leaders like you; the students I have had the privilege to meet and talk with at universities, primary and secondary schools in states like Benin , Lagos , Oyo , Born, Gombe, and Sokoto; the strong and dynamic women in this country; the entrepreneurs; and members of the private sector all working hard day in and day out to realize the tremendous potential of this great nation. The people of the United States of America and the people of the Federal Republic of Nigeria are one and the same, with democratic values, love of country and respect for their friends. We look forward to working with Nigeria under the BNC as we walk forward together as partners.

Thank you.

A New Beginning – Reaffirming America’s Partnership With Nigeria: Amb. Sanders' Remarks

A New Beginning – Reaffirming America’s Partnership With Nigeria
U.S. Ambassador Robin Renée Sanders

Maiduguri, Borno State
July 1, 2009

(As delivered)
All other protocols duly observed.
Assalaamu alaykum.

May the Lord bless you and keep you this day. With this homage it is my honor to be here today before so many distinguished academics scholars community and religious leaders.

This is my first trip to Borno but I am aware of the many, many programs the U.S. government does with the universities youth and the greater community in Borno State and in Maiduguri from education to health (particularly HIV/AIDS) to agriculture. These are all part of the people of America reaching out to you to build mutual understanding across nations, peoples, religions and perspectives. We live today in a global village – as we have so often heard – meaning we all need to become better global citizens and I believe this is what my country and the American people under the President of the United States of America Barack Obama are trying to do.

As President Obama said during his landmark speech in Cairo this is a New Beginning for America and the American people not only with the Muslim world but with all diverse people of the world in order for us to do several things better as Americans:

• We want to respect our global neighbors more as I respect you here today;
• We want to listen without arrogance or malice so that we can walk and work hand-in-hand;
• We want to learn from you so that our children can grow up in a peaceful empowering environment;
• But most of all we have mutual understanding for each other so that your nation and my nation – Muslim and Christian Nigerians as well as Muslims and Christians all over the world and Americans – can live as part of human kind in harmony in peace and in prosperity.

President Obama acknowledged the world’s debt to Islam for its historic contributions to education innovation science medicine but also for its respect for all other religions and its respect for racial equality. What I like to call the pillars of diversity.

Borno is an important part of that rich tradition. For over a thousand years the Great Borno Kingdom has influenced and dominated Islamic leadership dominated knowledge scholarship and trade. Borno’s influence continues to be felt today through institutions of learning throughout the region and by its importance in regional trade.

President Obama promised the U.S. would pursue new partnerships with governments citizens community organizations religious leaders youth business leaders international organizations and civil society in the areas of education economic development science and technology and health. These are the areas that the U.S. Mission to Nigeria my Embassy is working on to ensure we have a New Beginning here between the United States of America and Nigeria. Under President Obama’s New Beginning his priorities for Africa which were recently outlined by our new Assistant Secretary for Africa Ambassador Johnnie Carson are:

• Promoting and strengthening democratic institutions and the rule of law;
• Encouraging long-term development and growth;
• Assisting in the prevention and resolution of conflicts;
• Working with African nations to address old and new challenges
• But most importantly – remembering to listen and learn from you and that is why I am here today to listen to you and to learn from you.

For Africa we all know that solutions to all of Africa's problems including helping the Continent to reach its full potential won't come quickly or easily. However today I am pleased to reaffirm the commitment of my government and the people of America to continue to work together with you and your government under the U.S.-Nigeria Framework for Partnership which is synergistic with the goals of the Seven Point Agenda. President Obama has said we would work with like-minded countries like Nigeria to strengthen democracy and governance – by protecting human rights especially the rights of women supporting religious freedom addressing corruption promoting economic development investing in the people of Nigeria – through programs that promote health and education – and enhancing peace and security.

Now I want to turn to the issue of building mutual understanding particularly with the Muslim world. It is so important to me personally and to my President that I want to share with you that I hosted recently a distinguished group of Nigerian Muslim and Christian religious leaders at the Embassy as well as senior editors from Nigeria's major media so that we could watch the live broadcast of President Obama's speech together and discuss some of the issues raised therein together. I have worked in other Muslim countries from Sudan to Senegal so I am committed to the messages of President Obama. I want to share with you though several of the issues noted by President Obama that seemed to resonate strongly with my guests providing a range of emotions and feelings. One of my guests said to me that day that “it was as if he were speaking directly to Nigeria." As I have traveled in this country over the last few weeks I have met with many Nigerians during that time who have shared similar views with me and even since I have been here in Borno State about President Obama’s Cairo speech. In fact this morning I met with a group of Borno’s most prestigious religious leaders to hear their views on U.S. foreign policy and to discuss the speech. They said that many of the goals aspirations and visions of the future expressed by my President were things they wanted for Nigeria particularly government of the people respect for the rights of minorities and all religions putting people above the party and combating corruption.

Today in highlighting several issues addressed by President Obama and considering them in the context of our partnership and engagement with the people of Nigeria let us start with democracy and respect for diversity.

Nigerian democracy has come a long way in the ten years since 1999. In fact I recently participated in recognition programs on the ten-years of your country’s “uninterrupted democracy” along with an esteemed Special Guest former Secretary of State Colin Powell. The transition of power from one civilian president to another in Nigeria in 2007 was historic. I congratulate Nigeria on the progress it has made. It is a testament to the vigor and belief of the Nigerian people in the benefits of the democratic process. And today as we stand at the midpoint of Nigeria's presidential election cycle the U.S. Mission will continue to partner with the Nigerian people on things they request us to do to help strengthen and deepen your democracy.

We have been told that Africans yearn for democracy and in the last two decades dozens of African countries have embraced democratic rule in one form or another through the electoral reform process free and fair elections and freedom of association. I have heard a lot recently in Nigeria about electoral reform as a key pillar for your country to move forward. However electoral reform is something Nigerians must do for Nigeria. We get asked a lot about this but this is your country. We can help when asked but Nigerians must be in the lead. Free and fair elections are the lynchpins of a democratic system – the ultimate voice of the people. For example as stakeholders in their government the Electoral Reform Committee’s regional public hearings gave voice to the Nigerian people and an opportunity for an open and frank debate on what Nigerians want in their electoral system.

The United States continues to look for ways to work with the Nigerian government and the National Assembly to bring meaningful reform to the electoral process. We also recognize the important roles that civil society and a free press bring to advancing democracy in Nigeria. As former Secretary of State Powell recently said when he was visiting Nigeria in June – “democracy not only calls for but respects a clash of ideas in order to thrive.” The U.S. Mission has worked very closely with civil society and the press throughout Nigeria by hosting a series of civil society forums on democratic principles community outreach capacity building and electoral reform in Abuja Lagos and Port Harcourt that included respected experts such as Dr. Julie Sullivan who discussed the role of civil society in a democracy and how to build strong coalitions.

A democratic government is by definition founded on the principle of representing the interests of its people. President Obama challenged all leaders all over the world to abide by the highest standards of public trust when he said this and I quote:

A government of the people and by the people sets a single standard for all who would hold power: You must maintain your power through consent not coercion you must respect the rights of minorities and participate with a spirit of tolerance and compromise you must place the interests of your people and the legitimate workings of the political process above your party. Without these ingredients elections alone do not make true democracy.

Although these words were said by the President of the United States I believe they ring true for each person and every nation that believes in the democratic experience. I am the product myself of the success of a democratic experience.

According to the World Bank $1 trillion dollars is paid every year around the world in bribes and according to the United Nations more than $400 billion dollars has been looted from Africa alone. This is money not spent on health care education roads and employment generation; money not spent on improving the lives of those very people that government is meant to represent. In Nigeria as of 2008 roughly 500 billion Naira in cash and property gained through corruption was recovered in the last five years.

One other important pillar of democracy is fighting corruption. Nigeria has taken critical steps to lay the framework to combat corruption at every level; however this anti-corruption framework needs to be used – not selectively but across the board – to ensure that no individual can go without impunity and that government revenue meant to benefit all the Nigerian people does just that.

The other key pillar in democracy according to my President is respect for religion. Nigeria is a religiously diverse nation with proud rich traditions in both the Muslim and Christian faiths. My President stressed that "people in every country should be free to choose and live their faith based upon the persuasion of the mind and the heart and the soul." And indeed there is a great deal of respect for religion in Nigeria – mosques and churches stand side by side and freedom of religion is enshrined in the constitution.

However we have all seen too often in the press over the past year here in Nigeria where economic or political conflicts have led to religious or sectarian violence; and how some have used religious differences to divide people for short term political gain.

Even in the heat of conflict however we can find the cooling waters of tolerance. A pastor from Jos relayed to me recently that a mob came to burn his church during the November, 2008 violence in that city. But it was the Imam from across the street together with his Muslim congregation who stood up to the mob and defended the church Muslims and Christians side by side. We heard stories in Jos and Bauchi of neighbors of different religions sheltering neighbors – and even strangers – regardless of their faith.

These are important steps, which is why we have been asked to train three Conflict Mitigation and Management Regional Councils (CMMRCs) and assist with the Interfaith Mediation Center to effectively anticipate and mitigate ethnic and religious tensions.

I have been reading throughout press commentary that Nigerians also welcomed President Obama's observations on the issue of women's rights. He said "Our common prosperity will be advanced by allowing all humanity – men and women – to reach their full potential." This too is a key pillar in democracy.

We are also actively supporting education programs as education helps mitigate conflict. We have a U.S. Ambassador's Scholarship Program which includes Islamiyyah primary schools as well as non-formal education for Almajiri boys. There are currently 333 recipients of the U.S. Ambassador’s Scholarship Program in 12 schools in the North East Region of Nigeria with 166 Scholarship students right here in Borno State alone.

One other key sector that helps build democracies is a functioning health care system. The people of America are helping to support Nigeria’s efforts in reproductive health HIV/AIDS and polio primarily through the U.S. President's Emergency Plan for AIDS Relief known to many Nigerians as PEPFAR in which the American people have committed an estimated $68 million in the past four years to reach over 94,000 orphans and vulnerable children and about 9,000 caregivers. We also have HIV/AIDS outreach efforts on the radio in Hausa which opens up dialogue about health and other key issues affecting northern Muslim communities.

Turning to the commercial aspects of our development engagement with Nigeria the U.S. and Nigerian governments are working closely through our Trade and Investment Framework Agreement to increase Nigeria’s exports to the United States thereby adding jobs and more importantly reducing poverty in Nigeria. The African Growth and Opportunity Act or AGOA provides Nigeria with an important avenue to export its products to the United States and we recently opened an AGOA Resource Center in Lagos with the Bank of Industry to further enhance our trade relationship. But for you in this region I know agriculture is so important. So I want to assure you that we are very much focused on that sector and on food security where my government has provided and plans to provide depending on our Congress over $25 million per year in food security for Nigeria.

The last area I am going to highlight in our engagement today is peace and security. We are listening carefully to the discussions going on now on amnesty in the Niger Delta. We are friends of Nigeria and we want what you want to see a conflict-free region that can develop and thrive and where the lives of civilians are always protected. We also all know that peace and security are fundamental pillars of democracy as well so I want to highlight for you what President Obama has said about another global peace and security issue you follow closely – the issue of Israel and Palestine.

On Israel and Palestine the President reaffirmed in his Cairo speech that the United States of America will align its policies with those who pursue peace including Israelis and Palestinians who deserve to live in peace and security in two states. He called on all parties to fulfill their obligations agreed to under the Road Map.

Israel's right to exist cannot be denied. At the same time Israel must recognize that building Israeli settlements must stop and that the continuing humanitarian crisis in Gaza does not serve Israel’s security adding that Israel must live up to its obligations to ensure that Palestinians can live and work and develop their society.

Palestinians must have dignity opportunity and a state of their own. At the same time Palestinians and Hamas must abandon the violence that kills the innocent and surrenders moral authority.

I work for the President of the United States of America and the New Beginning he stressed between Americans and Muslims is also for Nigeria and the United States. We share common principles of justice and progress; tolerance and dignity; and respect and understanding. He has said we as Americans will listen and I have listened and learned from you today.

There is a strong friendship between the people of America and people of Nigeria and a strong bilateral relationship of mutual respect. Through our partnership we will continue to support you and all Nigerians to strengthen democracy encourage respect for human rights invest in the people of this great country promote women’s rights respect for the diversity of religion the diversity of political views and the diversity of perspectives on the world so I have come I have listened and I have heard you today. We are friends we are one. May God's peace be upon you.

Askir-Nyena. Thank you.


# # #

Self-Help Program helps Trains Young Entrepreneurs

June 13 - I had the opportunity to go to a creative self-help activity under the Ambassador's Self-Help Program. It is run by a wonderful young woman who had been a recipient of our International Visitors Leadership Program, better known as the IVLP program. Her project seeks to train unemployed youth in the greater Lagos area, particularly the mainland area of Maryland. Under the Ambassador's Self-Help program we provided resources to assist with the training of 31 unemployed youth for free for three months in the areas of carpentry, fashion design, and food catering. The training center -- called the Foundation for Skills Development -- is a wonderful place that provides employment opportunities for many young Nigerians. In addition, even young people from the neighboring states of Ondo and Ekiti are coming to the Center to learn new skills. Most of the recipients are young women, and I had an opportunity to talk to each and every one of them during my visit (there were about 35 trainees there who had either been trained at the Center before or are currently enrolled). I had a conversation with each trainee and asked how the Center had changed their lives and told them they were leaders in their own right -- just by reaching out and coming to the Center to find a way to provide for themselves and their families. "Economic empowerment and independence," I stressed, "was the first step for anyone to have a better life." One young woman told me how much she was making for food catering and that no one could pay her the salary she was earning now because of the training she received at the Center. This was a great visit as it showed the power and synergy of two USG programs -- the IVLP and the Ambassador's Self-Help program -- where the leadership of the Center's Director and the additional skills she learned during her IVLP visits were brought back to help the development of her nation. The Self-Help Program was a tool she used to further the development of the young people of Nigeria. The Director also started a "Smart Kids" book program, another idea she picked up from her IVLP visit to the U.S., where books are donated to area schools. I had an opportunity to meet many of the kids and teachers involved in the Director's "Smart Kids" program as well. I really enjoyed my visit and meeting not only the wonderful Director, but the marvelous young people at the Center. My hat goes off to the Director, she is great!

Successful Agriculture Event with BOI

June 9-10: Over the last two days I chaired along with the Nigerian Bank of Industry T(BOI) Managing Director a joint U.S. Mission-BOI agricultural event where six USG agencies provided their expertise to help the Nigerian agriculture sector develop by providing information on access to financing, offering technical assistance on agro-processing, food labeling, and how to scale up exports using AGOA. Six of the 14 Nigerian bank that are partners on either EXIM or the Foreign Agricultural Service's (FAS) financing facilities also sponsored the practical two-day event where over 400 people attended. The financing and capital equipment segments were moderated by my staff assistant, Rob Anderson, while the interactive food labeling sessions were handled by a superb FAS consultant from Portland. The event received first class media coverage and I believe a good and productive time was had by all participants. We certainly moved U.S. policy forward over these last two days on agricultural development and AGOA.

U.S. Company Lands Hallamrk Agreement

May 28: Was a great day for U.S.-Nigeria relations as a U.S. Company signed the first-ever company-to-country agreement in Sub-Saharan Africa with Nigeria. I was proud to be there with the VP of the U.S. Company and with the President of Nigeria, along with my staff members Bob and Carolyn as we all worked hard to make this happen over the last year. I look forward to more U.S. companies believing in Nigeria as a place to invest and build strong ties.

Ambassador Robin R. Sanders' Remarks at the First National Employment Summit

Remarks of U.S. Ambassador Robin R. Sanders

On the Occasion of the First National Employment Summit:

"Meeting the Employment Challenges of the Global Economic & Financial Crisis"

Remarks as delivered.
April 23, 2009, Transcorp Hilton
Abuja, Nigeria

All protocols duly observed.

Good morning. The timing of this summit is very appropriate. Today, we are experiencing a global economic and financial crisis that is challenging our confidence, creating insecurity in world markets and disrupting the lives of those who make up the backbone of our global economies –the men and women who make up the global work force. This also includes the workforce of tomorrow--our youth-- who face a bleak employment outlook and are at risk of not realizing their full potential.

The U.S. Government's efforts to ease the burden of the financial crisis are not just aimed at home. To assist those countries hit hardest by the crisis the United States and its global partners are moving to increase significantly the resources available to international financial institutions, and to modernize the governance of these institutions to better reflect the realities of today's world economy. Just two days ago, President Obama asked the U.S. Congress to increase U.S. contribution to the International Monetary Fund to one hundred billion dollars ($100 Billion).

In Nigeria, through our Framework for Partnership with the people and government of this country, my team at the U.S. Mission is investing in the people of Nigeria by emphasizing the rule of law and accountability of government to its people, and by supporting diversified economic growth so that people can support themselves and their families. I want to highlight for you a few examples of how we are working with you on job creation in Nigeria:

First of all, the U.S. Government's Africa Growth and Opportunities Act, or AGOA, provides trade preferences for duty-free entry of more than six thousand five hundred (6,500) different goods into the United States. By accessing AGOA, Nigerian companies have the opportunity to drastically increase exports to the United States, which in turn creates real jobs and real opportunities for real people.

Over the last two years, our Maximizing Agricultural Revenue and Key Enterprises in Targeted Sites program, or MARKETS, created nearly forty-five thousand (45,000) jobs along the value chains for rice, sorghum, and cowpeas. This program generated revenues of over $75 million and leveraged $20 million in credit. Productivity in these sectors increased by an average of 118%.

Another project of the U.S. Government, the Cassava Enterprise Development Project, created more than 7,000 jobs during the first nine months of 2008. It increased incomes by an additional $800,000 over the same time period and boosted productivity to over 25 tons per hectare from a baseline of less than 10.

One of the major roles of the U.S. Government's Commercial Service is to facilitate entry and participation of American companies into the Nigerian economy. In one example, at the end of last year the American company Cisco Systems had established 75 academies across Nigeria that trained over 6,000 Nigerians in technologies that will help them find and create jobs, to secure their livelihoods and their family's future.

As you develop your National Employment Program of Action, I encourage all of you to focus not only on creating employment opportunities but more broadly on promoting opportunities for decent and productive work in conditions of freedom, equality, security and human dignity —for both men and women. These same fundamental rights apply to Nigeria’s children as well, who are especially vulnerable to the worst forms of labor as well as child trafficking. I urge you to not only prosecute and punish those who commit these horrible abuses, but also urge you to provide opportunities for children to enjoy their right to a good education and a bright future because, after all, they are your future.

I encourage you to reach out to all sectors of society to hear about their issues. In this way you can ensure that what is being done is what you as Nigerians truly want, need, and desire. The ultimate success or failure of an initiative depends on the buy-in of the people it aims to support.

This also includes organized labor. In closing I want to say that organized labor has a key role to play in the development of your National Employment Plan. Although in the past few months we have witnessed frustration from several of Nigeria’s unions, organized labor and management must come together to work toward mutually beneficial solutions for all Nigerians. And government must be a partner in development, fundamental to extending and strengthening your economic growth. The U.S. Mission to Nigeria is also ready to work in partnership with the people of Nigeria as we move together toward a new era of increased trade and investment, improved transparency, the transfer of best business practices, and support for government organized labor, and the private sector so that all Nigerians can realize their right to dignified and decent employment.

Thank you.

Ambassador Sanders' Remarks at the Lagos Business School Executive Breakfast

Remarks by U.S. Ambassador Robin Renée Sanders

The Economic Hard Choices We All Need To Make For Our Nation

Lagos Business School Executive Breakfast
Lagos Business School
March 3, 2009

• Professor Doyin Salami, Host of LBS Breakfast Session
• Members of the Lagos business community
• Members of the U.S. Mission
• Faculty and students
• All other distinguished ladies and gentlemen
• All other protocols duly observed.

I have been wanting to do this breakfast for several months now, and I am happy we were finally able coordinate our schedules to make it happen. This advanced educational institution, while still young, has contributed significantly to the training and development of business leaders, and has provided a forum for practical learning and discourse through events such as this monthly Executive Breakfast session. It is apropos for me to come here this month as one of my last activities in the U.S. Mission to Nigeria’s two weeks of National activities and following the inauguration of our 44th President of the United States, President Barak Obama.

As business leaders, I imagine that you are focused on the global economic crisis which is really going to be the platform for my remarks today. I want to begin with the U.S. approach to the economic crisis; discuss the challenges that Nigeria may be facing; the way forward in the U.S. as outlined by my President; and what and how the cooperation between the U.S. Mission to Nigeria and Nigerians can affect these challenges, including what we see your government doing to address these issues.

On February 17, President Obama signed into law the American Recovery and Reinvestment Act -- an economic stimulus package designed to create over 3.5 million jobs while investing in priorities like health care, energy, and education that will jumpstart economic growth in the U.S. The Act focuses on investing in several things, from new technologies to produce clean energy, to science and infrastructure development to improving our health care system and schools. All together, these changes will lay the foundation for our nation for a rebirth in our values and American leadership.

But how did we get to this point?

President Obama attributed the current U.S. financial crisis and economic slow-down to the "greed and irresponsibility on the part of some" and "also our collective failure to make hard choices and prepare the nation for a new age," the Information Age. The rising rates of unemployment, housing foreclosures, and businesses going under have forced Americans to examine what went wrong and why and to recommit ourselves to the hard work of rebuilding the economy, reinvesting in the growth of American society, and remaking our institutions, particularly our banking sector, to being more transparent with effective macro economic solutions. The President, through his Treasury Secretary, has instituted for example, the Financial Stability Plan will:

Infuse fresh capital into banks deemed healthy and with at least $100 billion in assets;
Establish a public-private investment fund with up to $1 trillion to buy and manage bad asset-based securities; and;

Expand effort for small business lending, commercial mortgages, and consumer loans.
In addition, I know there are questions about the “Buy American Provision,” but that is just what it is, a provision, not protectionism. It does not apply to iron, steel , and manufactured goods produced by least developed countries or LDC’s. It will ensure that our trading partners will continue to have access to procurement in accordance with current WTO and FTA agreements. And, it does not apply to all manufactured products. It only applies to public buildings and public works that are funded by money appropriated by the U.S. Congress.

My president has also said he plans to increase our foreign assistance to our overseas friends from $25 billion to $50 billion, pending of course approval of the U.S. Congress, which will help if passed, all of our friends and all of our partners such as Nigeria.

Now turning to Nigeria. What are your challenges? I think you know them as well as I do.

First and foremost, I want to state for the record that I think Nigeria has the potential to be one of the largest burgeoning emerging markets in the world. Although there was a lag of about six months from when the global financial crisis hit the developed world and when it caught up to the developing world, there is no doubt that it has now arrived in Nigeria.

So what are we seeing here: problems to access capital markets, high interest and lending rates in your banking sector, pressure on the naira, signs of inflation, and economic growth around 3.5 per cent, down from earlier estimates of 6 to 7 per cent for 2009. There is a constriction in your economy registering itself slowly, but surely as the economic downturn takes hold here.

Your Government, under the able leadership of your new Finance Minister, has created several economic committees to look at macro economic issues, to review Nigeria's financial and monetary health, calling on the service of public and private sector experts, which I understand include a few members of this very audience to holistically examine what can and should be done, including action-to-consequence scenarios to help Nigeria weather this financial storm. These will protect some of the good economic decisions that have been made in the recent past and develop workable solutions to include enhancing financial transparency, better utilizing your revenue and wealth to help the common man, and diversifying your economy, with particular focus on the revitalization of your agricultural sector. Other issues on the top of this list include further reducing restrictive trade bans and barriers to help spur investment, particularly on Foreign Direct Investment and enhance trade relations with the U.S. and other countries.

As for the U.S. – Nigeria bilateral business relationship, we think the current economic environment might serve as a platform to encourage more two-way trade, lower trade barriers, and for Nigeria, to better utilize the benefits under the African Growth and Opportunity Act or AGOA which Nigeria has been eligible for since 2000, but has failed to fully capitalize on using this provision.

Nigeria was the second largest export market for U.S. goods and services in 2007, totaling $2.7 billion dollars with the total two-way trade figure between our two countries standing at $35.5 billion. However, for me the real indicator of the potential in our trade relationship is that total U.S. imports from Nigeria were $33 billion. This figure constituted about 48% of all U.S. imports from all of Sub-Saharan Africa with over $70 million coming from non-oil imports, up 45 per cent from 2006.

But the United States and Nigeria can do better as trading partners. Let's be honest, it is in both our best interests to do so.

We at the U.S. Mission to Nigeria will continue to seek ways in which we can engage and assist the Nigerian government, Nigerian businesses and Nigerian civil society in addressing key issues during these difficult financial times under our Framework for Partnership.

What we have been doing over this last year has been: helping spur more business ties through our export credit workshops; holding nation-wide AGOA related workshops to help explain the AGOA legislation and what it takes to be export ready for the U.S. market; sending Nigerian business people and poultry farmers to U.S. trade shows; and holding energy sector seminars with our export-import bank and our trade and development agency to demonstrate our commitment to help Nigeria in this sector.

I cannot forget, however, our efforts to help Nigeria reach international aviation standards through our seminars and workshops so that it achieves category one status and TSA approval, so Nigerian airlines can at last fly direct to the United States. However, both your airline industry and regulator still have a lot of work to do.

Going forward, we plan to continue our practical workshops, focused particularly on agriculture through 2009 and have asked other U.S. government agencies to send experts on power and energy issues to dialogue with your government and the private sector.

We hope that we can really jump start, and further advance negotiations with your government on our U.S. -Nigeria Trade and Investment Framework Agreement, or TIFA, as well as at last have a Bilateral Investment Treaty or BIT, so that we can have the same trade frameworks that we have with so many other countries, but not with Nigeria, and not for our lack of trying to do so. As long as we have been friends, we have not had these standard trade frameworks with Nigeria.

On energy, we have also invited your financial leaders to attend a sub-Saharan Africa infrastructure conference in May 2009 in Dakar where your officials can interact with U.S. private sector representatives about shaping the legal and regulatory framework to assist in your efforts in the power sector.

On development, we are working with other donors and your government on a Country Partnership Strategy to ensure Nigerian Government priorities are reflected in donor efforts to increase the effectiveness for Government of Nigeria assistance and foster Nigerian ownership of its development strategy.

On agriculture, through our $25 million Global Food Security Response Program, we are focusing on your agricultural sector with capacity building, value chain and processing improvements, including help with crop yields.

In the Niger Delta, we have conflict abatement programs and a range of development projects that help with clean water – particularly in the oil-polluted creeks of the Niger Delta, and helping with vocational and educational programs.

Of course, I cannot leave out education, which is one of our key areas where we have educational exchanges and training for teachers as well as scholarships for primary school children.

Much remains to be done, and the U.S. Mission is ready to work with willing and able partners to advance our common goals of ensuring economic freedom and prosperity for the Nigerian people and for generations to come.

We thank you for being our friend and for your regional leadership in so many areas, certainly your political stance on Zimbabwe, your peace keeping efforts in Darfur, and we are counting on your fulfilling your promise to send troops to Somalia.

I must close, however, by stating something that I truly believe. Nigeria is a country with incredible natural as well as intellectual wealth. You, in this room, are an example of this. I have a challenge for you and it is my expectation of you. Your country faces challenges economically as we have already highlighted, politically, certainly with the need for election reform, and on ethno-social issues with pockets of religious tension, particularly in the Niger Delta.

You are leaders here with impressive knowledge and talent, and the best solutions for Nigeria must come from you. You need to be engaged with your leaders and your populous, particularly civil society in making things better for the overall Nigeria public. This is what I expect from you. And this is what I know the Nigerian people want from you. We can be supportive, but you must lead.

Thank you.

Ambassador Sanders' Remarks at the Island Club's Business Luncheon

Remarks of Ambassador Robin Renée Sanders

The Role and the Responsibility of the Nigerian Private Sector in the Current Global Financial Environment

Island Club's Business Luncheon
Lagos, February 24, 2009

• Chairman, Island Club
• Former Secretary General of the Commonwealth
• Chairman, Island Club Board of Trustees
• Distinguished ladies and gentlemen
• Ladies and gentlemen of the press
• All protocols duly observed.

Good afternoon! Let me start by thanking the Island Club for the invitation to be your Guest Speaker this afternoon.

As I looked at what I wanted my topic to be today, for a group of august, current and former business persons and business academics, it was not hard to determine what I wanted my message to be, or what I wanted you to leave here thinking about! We all recognize that we are in a new economic environment where the rules and regulatory frameworks that we all had become so accustom, are being reexamined, reviewed and redressed.

These are tough economic times for both the developed and the developing world and each and every segment of our societies has a responsibility to ensure that they examine what they can do for their nation, and that brings me to you.

As current or retired business people and business academics, you have a responsibility to help your government and help your fellow Nigerians figure out what Nigeria can do to weather this economic and financial storm. You cannot sit back and criticize, be concerned without action, or fail to step up and provide your expertise to policy makers at this time. Nigeria still has – even in these tough economic times – the potential to become a burgeoning emerging market. The question is, whether the global financial crisis is going to further derail this path, or are you going to tread water, or are you going to really survive with a paradigm shift, particularly in development.

As Nigerian business people, I would hope that you would choose the later option – surviving by developing the right macro economic policies that further insulate Nigeria, allowing it to still grow, even in these difficult times. This is where politics and regionalism need to be set aside so that the vast intellectual capacity that I have seen that exists in this country can be used for unity of purpose – unity of better economic management, unity of sacrifice, when sacrifice is needed. Although I am outside of your economic framework we follow the same signs that you do. So what are they for Nigeria: pressure on your currency; trade barriers that need to be revisited and changed; 70 per cent of your population living below poverty; endemic corruption; insufficient energy for your needs; red flags in certain banks; and the need to diversify your economy, particularly toward agriculture – not only so farmers can feed the nation, but so Nigeria can become a net exporter of key commodities. Today you are the second largest importer of foodstuffs.You are far behind this now, but the real kicker is – that with all your wealth, and all your creativity this should not be the case!

Yes, these are worrying signs, signs that have always been there, but become more exacerbated in tougher financial times. You in this room have the answers, even though you many not know it, but I would find that hard to believe. No one says that all the answers rest with policy makers, but the answers to all of these issues do rest with you as Nigerians and you must extend yourself in that direction.

You know, we just had a unique, historic transition of power in the United States of America with the election of the 44th president of the United States, President Barack Obama. His focus for America is on the same issues I have outlined above for Nigeria. President Obama came to office at a time when America as a nation faces enormous economic crises of such scale and magnitude not seen since the Great Depression in the 1930s. To address our myriad of issues, President Obama has reached out to all in America- political opposition, academics, legislators, and the average American through a website www.recovery.gov- in an effort to have our best and our brightest, our hard working citizens, and their families, our creativity and our values- all helping us to find our way. You may want to do the same for Nigeria, but this is up to you.

As further examples, President Obama moved boldly and forthrightly to address our economic challenges by signing into law a comprehensive economic stimulus package called the Recovery and Reinvestment Plan designed to jumpstart the American economy, address issues in our financial framework, assist homebuyers with their mortgages, and support our banking sector. The Plan also will help save, or create, up to 3.5 million jobs and re-awaken American values on improving human development, taking care of our teachers and taking care of our future. As of yesterday, if you were watching the news as I was, you saw my President lead his first ever White House Fiscal Responsibility Summit with the nation's governors, legislators, and other eminent personalities, with a health care summit next week and a major address to the nation- all to address the issues on the minds of Americans.

In America, as in any democratic society, the people form and shape the fabric of democracy, and the ultimate success, or failure, of an initiative depends on the buy-in of the people. In your case, you must reach out to the Nigerian people to hear their plight and struggles, and then you and you alone are responsible as the private sector to work with your policy makers both in the executive and legislative branches to ensure that what is being done is not only being done in the name of the Nigerian people, but what the Nigerian people have said they want, they need and they desire.

President Obama had instilled a sense of hope in the American people for a better time ahead, and he succeeded in doing so by inspiring us around one goal – a goal for us to pick ourselves up, dust ourselves off, recognize the hard task ahead, and work even harder and longer to get it right, and change the past – all under the umbrella of the commitment to the Rule of Law and transparency. When he talks about transparency he is clear – it is the “end of deceit, and corruption,” and using the public good and wealth for personal gain. He reminds us that America's strength comes not just from the might of our arms or the scale of our wealth, but from our enduring values. I know and have seen the enduring values of Nigerians. And I know that these values are shared in so many ways between our two nations.

These are the questions you must answer as the elite of Nigeria. What is your role and what is your responsibility in these troubling financial times? I shared with you today what my President is doing, the outreach of my President across all spectrums of political and religious views.

What is Nigeria going to do? Do you want a Fiscal Responsibility Summit, and Development Summit, a War on Poverty Summit -- or all three? And what about the Niger Delta? What are you going to do for peace, security and development there? It is for you to use your leadership positions as members of the private sector in some way to change or improve Nigeria’s economic, political (especially election reform) and development outlook. We, the U.S. Government, can support your efforts but you must be in the lead on things like anti-corruption, fiscal transparency and an independent electoral commission.

I have been told by Nigerians that Nigeria has a long road to travel on these issues. Democratic institutions need to be strengthened, democratic principles and values need to percolate through every level of government, federal, state, and local. Economic growth, fiscal transparency and pro-human development go in tandem. But there is no real growth, no real change for the Nigerian people that can come at the expense of development for the Nigerian people. As the elite you need to roll up your sleeves and develop ways to reach a hand back and help out in whatever way your expertise will allow. In the end it is about leadership, your role and your responsibility as citizens of Nigeria to ensure, that this wonderful county, on the cusp of being an emerging market, weathers through the financial clouds, and comes through this period with all Nigerians being better off.

As I conclude, I want to go back to something President Obama said recently, invoking the words of another famous American President who himself was seen as a change maker: "Do not pray for easy lives. Pray to be stronger men [and women]. Do not pray for tasks equal to your powers. [but] Pray for powers equal to your tasks." These words were originally those of President John F. Kennedy but can aptly be applied to both our nations today. Our tasks in today‘s environment, both for the American people and the Nigerian people are great. And it will take all of our powers to ensure that both our countries enter out of the financial storms stronger than ever with a secured future for the next generation. These will be the tasks that your powers will face!

Thank you.