US Reopens Credit Lifeline for Nigeria Food Imports, Targeting Surge in Farm Trade
The United States is scaling up support for agricultural trade with Nigeria by revitalising the U.S. Department of Agriculture’s Export Credit Guarantee Program (GSM-102), a facility designed to help Nigerian banks and importers secure financing for essential agricultural inputs sourced from the U.S.
U.S. officials say the move is aimed at strengthening U.S.–Nigeria agricultural commerce, stabilising food supply chains, and expanding private-sector opportunities in both countries as bilateral economic ties continue to grow.
Two-way trade in goods and services between the United States and Nigeria reached nearly $15 billion in 2025, a 14% increase from 2024, according to figures cited by the U.S. Mission. Agricultural trade was a standout driver, rising to $764 million —an 84% jump from $415 million the previous year—highlighting Nigeria’s expanding role as a key agricultural trade partner.
To boost awareness and encourage greater use of GSM-102 in Nigeria, the Foreign Agricultural Service at the U.S. Consulate General hosted a two-day event in Lagos, convening officials from the USDA and the U.S. International Development Finance Corporation, alongside the Nigerian-American Chamber of Commerce, U.S. agricultural exporters, Nigerian banks, and agricultural importers.
Speaking at the opening session Tuesday, U.S. Consul General Rick Swart described Nigeria as one of America’s most important agricultural trade partners on the continent, saying the Trump Administration is shifting its approach. “Under the Trump Administration, we are making a clear shift, from aid to trade,” Swart said, adding that Washington is focused on “real-world solutions” that strengthen the business environment for entrepreneurs, investors, and innovators building U.S.–Nigeria commerce.
Participants discussed how GSM-102 can reduce financing barriers for Nigerian buyers, support food security, and sustain jobs on both sides of the Atlantic, while business-to-business meetings sought to translate market opportunities into transactions.
Demeteris “Dee” Hale, a senior USDA analyst covering the region, said the program’s central value is risk reduction. “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,” Hale said.
Nigerian banks regained eligibility to participate in GSM-102 in late 2025. Since then, credit limits have been extended to selected institutions, restoring access to U.S.-backed trade financing and helping fuel renewed momentum in bilateral agricultural trade.
