Economic exchange between the United States and Nigeria 1960-1993

Abstract

Abstract

There were historical ties between the United States of America and Nigeria even before the latter gained its independence from Britain in 1960, and among these ties is the close distance between the eastern coast of the United States of America and the western coast of the continent of Africa, in addition to that, the slave trade contributed to strengthening those ties between The two countries, and although the United States of America was exposed to a financial crisis in 1907 and an American company marketing its products, economic relations did not develop until after the First World War 1914-1918, and they began to develop more in the thirties after the visit of the Director of General Works of Roads in Congress American to Nigeria.

Nigerian oil played a major role in developing economic relations with the United States of America, especially since the latter was largely dependent on Nigerian oil, but on the other hand, the decline in American exports had negative effects on Nigerian oil. Which led to political differences due to the failure of economic policies. In addition, the United States of America had investments in Nigeria, and agreements were signed, including the 1962 and 1974 agreements. In return, Nigeria imported wheat from the United States of America.