The United States has expanded its support for agriculture and trade with Nigeria through the revitalisation of the U.S. Department of Agriculture’s Export Credit Guarantee Programme, commonly known as GSM-102. This programme provides U.S. government-backed credit guarantees, serving as a vital tool for Nigerian banks and importers to source essential agricultural inputs from the United States.
Strengthening Bilateral Trade
The initiative underscores U.S. efforts to enhance agricultural trade between the two nations, build more reliable food supply chains, and increase commercial opportunities for both countries. The U.S. and Nigeria continue to advance a robust and growing economic partnership, with two-way trade in goods and services reaching nearly $15 billion in 2025—a 14 per cent increase from 2024. Agricultural trade has been a major contributor to this growth, rising to $764 million, an 84 per cent surge from $415 million in 2024, highlighting Nigeria’s importance as a key partner.
Commitment to Agricultural Expansion
The U.S. Mission remains committed to expanding agricultural trade, strengthening commercial ties with Nigerian agribusinesses, supporting private sector growth, and deepening economic engagement. To increase awareness and utilisation of the GSM-102 programme in Nigeria, the Foreign Agricultural Service of the U.S. Consulate General hosted a two-day event in Lagos. The event brought together officials from the U.S. Department of Agriculture, the U.S. International Development Finance Corporation, the Nigerian-American Chamber of Commerce, as well as representatives of U.S. agricultural exporters, Nigerian banks, and agricultural importers.
Remarks from U.S. Officials
Delivering remarks at the opening of the event, U.S. Consul General Rick Swart noted that Nigeria is one of the United States’ most important agricultural trade partners in Africa. “Under the Trump administration, we are making a clear shift, from aid to trade,” Swart said. “We’re engaging Nigeria as an outstanding and unique commercial partner. That means we are looking for real-world solutions that foster the kind of business environment that enables entrepreneurs, innovators, and investors to build the future of U.S.-Nigeria commerce.”
Exploring GSM-102 Benefits
Throughout the two-day event, participants explored how GSM-102 can help Nigerian businesses access the U.S. market, improve food security, and create jobs on both sides of the Atlantic. In addition, Nigerian participants engaged their U.S. counterparts in business-to-business discussions aimed at turning market opportunities into concrete transactions. Senior Analyst for the Africa, Middle East, Türkiye, Caucasus and Central Asia Region at the U.S. Department of Agriculture, Demeteris Hale, noted that “at its core, GSM-102 strengthens market confidence by reducing risk, enabling lenders and exporters to move forward with transactions and expand into new opportunities. We are here to work with financial institutions, importers, exporters, and other stakeholders across the industry to build stronger linkages and drive increased agricultural trade.”
Renewed Access for Nigerian Banks
In late 2025, Nigerian banks regained eligibility to participate in the GSM-102 programme. Since then, credit limits have already been extended to selected Nigerian banks, enabling renewed access to U.S.-backed trade financing and contributing to increased bilateral agricultural trade. This development is expected to further boost agricultural exports and imports between the two nations, fostering economic growth and food security.
