The United States has revealed plans to expand support for agricultural trade with Nigeria through the U.S. Department of Agriculture’s Export Credit Guarantee Program, known as GSM-102, as both countries move to strengthen agricultural supply chains and create new trade opportunities.
The GSM-102 programme provides U.S. government-backed credit guarantees that allow Nigerian banks and importers to access financing when sourcing agricultural inputs from the United States.
The initiative will help Nigerian agribusinesses secure essential farm inputs while improving trade flows between both countries.
The programme forms part of broader efforts by the U.S. government to deepen commercial ties with Nigeria’s agricultural sector, strengthen food supply systems, and create more business opportunities for companies in both countries.
Trade between the two nations has continued to grow significantly. Two-way trade in goods and services between the United States and Nigeria reached nearly $15 billion in 2025, representing a 14 percent increase from 2024.
Agricultural trade played a major role in that growth, rising to $764 million from $415 million in 2024, marking an 84 percent increase.
The U.S. Consulate General Lagos hosted a two-day event in Lagos to increase awareness of the programme and encourage greater participation among Nigerian financial institutions and agribusiness operators.
The event brought together officials from the United States Department of Agriculture, the U.S. International Development Finance Corporation, the Nigerian-American Chamber of Commerce, U.S. agricultural exporters, Nigerian banks, and agricultural importers.
Speaking at the event, U.S. Consul General Rick Swart said Nigeria remains one of America’s most important agricultural trade partners in Africa.
“Under the Trump Administration, we are making a clear shift, from aid to trade,” Consul General 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.”
Participants at the event discussed how the GSM-102 programme can help Nigerian businesses gain better access to agricultural products from the United States while also improving food security and creating jobs in both countries.
The discussions also included business-to-business meetings between Nigerian and U.S. stakeholders aimed at converting trade opportunities into direct business transactions.
Demeteris Hale, Senior Analyst for Africa, the Middle East, Türkiye, the Caucasus and Central Asia at the U.S. Department of Agriculture, said the programme helps reduce financing risks for lenders and exporters.
“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.”
Nigerian banks regained eligibility to participate in the programme in late 2025, and selected banks have already received credit limits that allow them access to U.S.-backed trade financing.
