The country identified the agricultural sector and microfinance subsector as two areas that currently offered a lot of opportunities for American and other potential investors.
The Executive Vice President of Overseas Private Investment Corporation (OPIC), Ms. Mimi Alemayehou, stated these in an interview with THISDAY in Abuja.
Alemayehou is also the Head, US Trade Infrastructure Mission which is currently in Nigeria and comprises of 17 American firms.
OPIC, a US Government development agency, sells investment services to assist American companies gain footholds in emerging markets, by providing investors with financing, guarantees, risk insurance, and support for private equity investment funds.
Alemayehou put the current investment support to American-owned business in Nigeria at $550 million. This, she said, was the largest in the continent.
"Currently we have almost $4 billion in our exposure in sub-Saharan Africa and Nigeria is a very important part of that. Our current exposure in Nigeria is over $550 million, which is the largest exposure we have in sub-Saharan Africa. We actually supported the recapitalisation of Union Bank with N250 million guarantee," she disclosed.
She noted that OPIC operates a fertiliser company and paper recycling firm in Edo state, both of which have some US components.
Commenting on the perception that Nigeria's business climate is perceived to be volatile, Alemayehou said the perception was based on a sector-to-sector basis, adding that such perception affects Africa as a continent, not just Nigeria.
"The fact that 17 companies are interested in Nigeria says quite a bit. There has been tremendous interest in the last couple of years in general. There is much more private equity fund raising to invest in Africa for the first time ever," she said.
"We are seeing the potential for the Diaspora which Nigeria can really benefit from. We are seeing a lot of interests from not just Nigerian Americans but Ghanaian Americans and other Diaspora who are starting to see the positive changes taking place in the continent. They are making very complex financial decisions and investments in their countries of origin," she continued.
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