The U.S. Mission in Nigeria confirmed the revitalization of the GSM-102 Export Credit Guarantee Program, signaling a strategic shift from “aid to trade” in the U.S.-Nigeria relationship.
​The program is designed to lower the financial risks for U.S. exporters and Nigerian importers, effectively creating a “credit lifeline” for agricultural trade.
After a period of limited access, Nigerian banks regained eligibility in late 2025. Credit limits have already been extended to selected financial institutions to facilitate these transactions.
The move follows a record-breaking year. In 2025, bilateral trade reached nearly $15 billion, with agricultural trade specifically jumping 84% to $764 million (up from $415 million in 2024).
The program aims to strengthen food supply chains, enhance food security in Nigeria, and support job creation in both nations.
U.S. Consul General Rick Swart emphasized that the initiative is part of a broader effort to treat Nigeria as a “serious commercial partner,” focusing on market-driven solutions rather than traditional aid.
This revitalization was underscored by a two-day stakeholder engagement in Lagos, where officials from the USDA and the U.S. International Development Finance Corporation (DFC) met with Nigerian banks and the Nigerian-American Chamber of Commerce to convert these credit facilities into concrete trade deals.
