The US is among the largest foreign investors and donors in Nigeria with annual trade between the two countries at over $10bn, according to the State Department.
US ambassador to Nigeria Mary Leonard said the new consulate, to be built on land reclaimed from the Atlantic Ocean, would take five years to complete.
Like most countries, the US has an embassy in the Nigerian capital, Abuja, and a consulate office in Lagos, a sprawling city of more than 20 million people and Nigeria's major economic hub.
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