By Eunice Orike
Federal Government has acknowledged the recent tariff measures announced by the Government of the United States of America, including imposing a 14% tariff on Nigerian exports.
A statement signed by the minister of industry trade and investment, FMITI, Dr Jumoke Oduwole explained that while these developments 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.
According to the minister, the federal government of Nigeria considers the United States a valued trade and investment partner, bound by shared values and mutual economic interests.
The U.S. Ambassador’s visit to the Minister of Industry, Trade and Investment on March 26th 2025 reaffirmed our joint commitment to strengthening economic ties that benefit both economies.
In response to the recent tariff announcements, Oduwole said that 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 2 years has consistently ranged between $5–6 billion annually. A significant portion—over 90%—comprises crude petroleum, mineral fuels, oils, and gas products. The second-largest export category, accounting for approximately 2–3%, includes fertilizers and urea, followed by lead, representing around 1% of total exports (valued at approx $82 million). Nigeria also exports smaller quantities of agricultural products such as live plants, flour, and nuts, which account for less than 2% of our total exports to the U.S.”, she said.
Furthermore Oduwole noted that while oil has long dominated Nigeria’s exports to the US, non-oil products, many previously exempt under AGOA—now face potential disruption. A new 10% 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 distabilizing challenges to price competitiveness and market access, especially in emerging and value-added sectors vital to our diversification agenda.
