FG to strategize on Trump’s 14% tariff on Nigerian exports
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole
FG to strategize on Trump’s 14% tariff on Nigerian exports
* Taking advantage of US policy to grow her non-oil export.
Oduwole said Nigeria plans to turn the global and regional trade policy challenges into opportunities to grow her non-oil export and build a more resilient economy.
Nigeria is determined to approach the recent US imposition of a 14% tariff on goods coming from the country with pragmatism and purpose, says the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.
Oduwole said Nigeria plans to turn the global and regional trade policy challenges into opportunities to grow her non-oil export and build a more resilient economy.
The US President, Donald Trump, on April 3, 2025, announced that exports from Nigeria to the United States will now be subjected to a 14 per cent tariff.
The newly introduced 14 per cent tariff marks a significant shift in U.S.-Nigeria trade relations, with the U.S. government citing an ongoing trade imbalance.
According to the Trump administration, Nigeria imposes a 27 per cent tariff on U.S. exports, a disparity the US claims has long been detrimental to American businesses and consumers.
In response, the US imposed a new tariff on Nigerian exports to mitigate what they argued was an unfair trade arrangement.
Oduwole said that while oil has long dominated Nigeria’s exports to the US, non-oil products—many previously exempt under AGOA—now face potential disruption.
The minister, in a statement, said the new 10% tariff on key categories may impact the competitiveness of Nigerian goods in the U.S.
According to her, Nigeria’s exports to the United States over the last two years has consistently ranged between $5 and $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),” Oduwole said.
“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 that for businesses in the non-oil sector, those measures present destabilising challenges to price competitiveness and market access, especially in emerging and value-added sectors vital to Nigeria’s diversification agenda.
On the impact of the tariff, she said “SMEs building their business models around AGOA exemptions will face the pressures of rising costs and uncertain buyer commitments.
“This development strengthens 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 into more economies across the globe.”
The minister said what the new tariffs signal for Africa and Nigeria in particular an 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.
“The Federal Government of Nigeria considers the United States a valued trade and investment partner, bound by shared values and mutual economic interests,” she said.
“The U.S. Ambassador’s visit to the Honourable Minister of Industry, Trade, and Investment on March 26, 2025, reaffirmed our joint commitment to strengthening economic ties that benefit both economies.
“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.”
