As Washington recalibrates its trade policy in a high-stakes global game, Abuja may be forced to re-evaluate its own trade approach and position in the international economy.
Nigeria will face a reduced blanket United States (U.S.) tariff of 10% until July, but its main export—oil and gas—remains unaffected, cushioning the immediate economic impact.
The U.S. announced a temporary reprieve on tariffs for most trading partners, including Nigeria, following an escalation in trade tensions marked by a steep increase in tariffs on Chinese imports.
The new measures, announced by U.S. President Donald Trump, follow weeks of speculation about an expansion of U.S. protectionist trade policies. Trump, who raised tariffs on Chinese exports to 125%, said countries that have not retaliated against U.S. tariffs—including Nigeria—will benefit from a 90-day pause and a lower, uniform 10% tariff rate. The decision signals a recalibration of America’s trade stance, particularly toward countries it does not view as economic adversaries.
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, played down the potential impact of the new tariff regime. “Nigeria’s exports to the U.S. were N1.8 trillion, N2.6 trillion and N5.5 trillion in 2022, 2023, and 2024 respectively,” Edun reportedly said in response. “Fortunately, oil and mineral exports accounted for 92%—N5.08 trillion—while non-oil exports were just N0.44 trillion. So the tariff effect is negligible if we sustain our oil and minerals export volume.”
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Nevertheless, Edun said Nigeria would revisit its 2025 budget assumptions in light of shifting global trade dynamics and domestic revenue projections.
U.S. frustration with Nigeria’s own trade practices also played a role in the decision. According to a report from the Office of the United States Trade Representative (USTR), Nigeria’s ban on 25 categories of imported goods—including agricultural products, pharmaceuticals, and beverages—has created significant barriers for American exporters. Items such as beef, pork, poultry, fruit juices, spirits, and medicaments are among those restricted, leading to lost revenue and reduced market access for U.S. businesses.
“This feels like a strategic move to influence Nigeria’s protectionist trade stance,” Nigerian economist Opeoluwa Bamiro tells FORBES AFRICA.
Corroborating the minister’s claim that the new U.S. tariffs are unlikely to affect the West African nation significantly, Bamiro notes: “Nigeria maintains a trade surplus with the U.S., not a deficit. In fact, the U.S. had a year-to-date surplus of $44 million with Nigeria in February.”
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