Trump’s New Tariff Will Affect Competitiveness Of Nigeria’s Exports – FG
The federal government on Sunday said the recent tariffs announced by the government of the United States of America, including imposing a 14 per cent tariff on Nigerian exports, would affect the competitiveness of products exported from Nigeria to the United States.
It said that while the tariff would potentially impact global trade negatively, under the administration of President Bola Ahmed Tinubu and the Renewed Hope Agenda, Nigeria remains firmly committed to building economic resilience and accelerating export diversification.
The Minister of Trade and Investments, Dr Jumoke Oduwole, said this in a document conveying the position of the federal government on the tariff measures as announced by President Donald Trump of the United States.
The minister said the federal government considers the United States a valued trade and investment partner, bound by shared values and mutual economic interests.
She noted that the U.S. Ambassador’s visit to her office on March 26, 2025, reaffirmed the joint commitment to strengthening economic ties that benefit both economies.
She said, “In response to the recent tariff announcements, Nigeria remains actively engaged in consultations with U.S. counterparts and the WTO, approaching evolving trade dynamics with pragmatism and a commitment to mutually beneficial solutions.
“Since May 2023, Mr President has remained actively committed to attracting and retaining much-needed investments from old and new friends of Nigeria.
“The FGN is implementing a range of interventions in policy, financing, infrastructure, and diplomacy to help Nigerian businesses remain competitive amidst regional and global tariff hikes, including expanding alternative market access opportunities and ensuring off-take diversification to reduce and mitigate trade risks.”
Nigeria’s exports to the United States over the last two years have consistently ranged between $5bn and $6bn annually. A significant portion of over 90 per cent comprises crude petroleum, mineral fuels, oils, and gas products.
The second-largest export category, accounting for approximately two to three per cent, includes fertilisers and urea, followed by lead, representing around one per cent of total exports (valued at approx. $82m).
Nigeria also exports smaller quantities of agricultural products such as live plants, flour, and nuts, which account for less than two per cent of Nigeria’s total exports to the U.S.
But while oil has long dominated Nigeria’s exports to the US, the minister explained that non-oil products, many previously exempted under the Africa Growth and Opportunity Act, now face potential disruption.
“A new 10 per cent tariff on key categories may impact the competitiveness of Nigerian goods in the U.S.
“For businesses in the non-oil sector, these measures present destabilising challenges to price competitiveness and market access, especially in emerging and value-added sectors vital to our diversification agenda.
“SMEs building their business models around AGOA exemptions will face the pressures of rising costs and uncertain buyer commitments,” she added.
According to her, these developments strengthen Nigeria’s resolve to boost its non-oil exports by strengthening quality assurance, control, and traceability in Nigerian exports to meet global standards and improve market acceptance in more economies across the globe.
“It also signals for Africa and Nigeria in particular the urgent need to enhance intra-African trade through the African Continental Free Trade Area (AfCFTA), reinforcing the case for Nigeria’s accelerated implementation of the AfCFTA, deepening regional integration, and leveraging frameworks like the Pan-African Payment and Settlement System (PAPSS) to lower trade costs and promote intra-African trade,” she added.
She assured that the ministry is approaching this moment with pragmatism and purpose, turning global and regional trade policy challenges into opportunities to grow Nigeria’s non-oil export footprint and build a more resilient economy.
Trump’s New Tariff Will Affect Competitiveness Of Nigeria’s Exports – FG is first published on The Whistler Newspaper
