₦airaland Forum

obyno82:
Oga you people don't have sense walahi. We are not in a position of strength. The US is a large trading partner with respect to our oil exports, and we need the revenue desperately, a 14% tariffs will hit us very bad. India that is a strong BRICS country is already removing tariffs for US exports.
FG is still giving a flat response and you call it sensible response. Make una get sense naaaa

victorv12:
To Nigerians praising the recent response, let’s be realistic, the tariff increase will inevitably impact the Nigerian economy. We operate a mono-economy heavily dependent on crude oil as our primary source of revenue.

When it comes to the African Continental Free Trade Area (AfCFTA), the truth is we’ve barely activated it in any meaningful way. How often do we actually trade with fellow African countries? Meanwhile, China remains a dominant force, strategically watching and expanding its grip on African trade.

The Trump-era tariffs are going to hit Nigeria hard because we are largely a consuming nation, we produce very little and manufacture even less. The Honorable Minister of Trade is being disingenuous. These tariffs will first impact our exchange rate, which will then drive up the price of fuel at the pump. Secondly, it will cause a surge in the prices of food and general commodities.

Let’s not forget, farming has declined significantly due to insecurity, particularly the menace of Fulani herdsmen. In a country where you need to borrow to survive, bank lending rates are as high as 18.49%.

This is happening in the context of hyperinflation, an unstable power supply, and an economy under serious strain. It's not going to be funny at all.

JASONjnr:
You really need a brain to think.....

After careful observation, experts decided to maximize other means to strengthen the economy rather than retaliating.... and hoping to come up with a more efficient way to boost the economy.............. You wish they don't do that but panic and start fighting US over it's tariff.

The overall impact will be 0.1% on our GDP and you feel that's too much? To cover this up, we need to look within us to grow and produce what we need. And look elsewhere to sell our items.

Did you

Great100000:
[b]Nigeria responds to U.S. tariff imposition, says new policy to disrupt non-oil exports.


Source: https://nairametrics.com/2025/04/06/nigeria-responds-to-u-s-tariff-imposition-says-new-policy-to-disrupt-non-oil-exports/

nedekid:
How naija wan take suffer am? 90% of our exports to US na oyel, either oil exporters to the US also have tarrif increase, even more than the 10% put ontop naija. This means our oil will still be competitive even more that the other exporters. Putting tarrif will not stop Americans from buying crude to run their cars, ships, factories etc, they will only pay more.
The truth of the matter is that trumps tarrif is good as it will only hasten the decline of America, it will cause inflation and recession. Who pays for the tarrif? Americans as the cost for American companies to clear their imported goods through their customs will increase, of course it will be passed to the consumers.
Some say tarrif will cause an increase in production in the US, economists think otherwise. American cost of production is extremely high eg labour cost. What about supply chain materials imported that will be used to produce, tarrif no de ontop? How do they replace medicine or it's raw materials with supply chain heavily linked to China and India?

https://www.youtube.com/watch?v=xwZT_nisxsQ?si=pRYCewzvZ4mGCvzG

ResidentSnitch:
In simple terms, Nigerians go suffer am.
Clueless touts running the country.

givedemwotowoto:
What’s Ebola going to do? Declare a state of Emergency on Trump? Abi he can only flex muscles locally?

JASONjnr:
You really need a brain to think.....

After careful observation, experts decided to maximize other means to strengthen the economy rather than retaliating.... and hoping to come up with a more efficient way to boost the economy.............. You wish they don't do that but panic and start fighting US over it's tariff.

The overall impact will be 0.1% on our GDP and you feel that's too much? To cover this up, we need to look within us to grow and produce what we need. And look elsewhere to sell our items.

Did you

obyno82:
You really are desperate to push an agenda. Nigeria has no options bro. Even India is looking towards Russia for cheaper crude. India are our largest customer of crude after the US. So bro forget it. The government has to offer zero tariffs on US imports

Great100000:
[b]Nigeria responds to U.S. tariff imposition, says new policy to disrupt non-oil exports.

The Federal Government of Nigeria has acknowledged the recent imposition of a 14% tariff on Nigerian exports by the United States, stating its commitment to mitigating the impact while accelerating economic diversification.

In a statement signed by the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, which was released on Sunday, the government noted that while oil has long dominated Nigeria’s exports to the US, non-oil products—many previously exempt under the African Growth and Opportunity Act (AGOA) now face potential disruption.

It added that the 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.

“SMEs building their business models around AGOA exemptions will face the pressures of rising costs and uncertain buyer commitments,” it stated.

Nigeria’s exports to the U.S.

According to the statement, Nigeria’s exports to the U.S. have averaged $5–6 billion annually over the past two years, with crude oil and mineral fuels accounting for over 90%.

• It added that non-oil exports such as fertilizers, urea, lead, and agricultural products make up less than 5% of total shipments.

• With the new tariffs, Nigerian businesses in value-added and agro-processing sectors may face reduced competitiveness in the U.S. market.

• The government, however, said it sees this as a catalyst to fast-track export diversification and improve compliance with international standards.

“We are approaching this moment with pragmatism and purpose—turning global trade challenges into opportunities to grow our non-oil export footprint and build a more resilient economy,” said Dr. Oduwole.

She said the Tinubu administration has rolled out policy, financing, and infrastructure measures to help Nigerian businesses adapt, including:

• Expanding alternative export markets outside the U.S.;

• Enhancing quality control and traceability for Nigerian goods; and

• Strengthening trade diplomacy to secure favorable terms.

Nigeria engages U.S., WTO over tariff The government described the U.S. as a “valued trade and investment partner” but emphasized Nigeria’s resolve to strengthen economic resilience amid global trade uncertainties.

The statement noted that Nigeria remains in active consultations with U.S. trade representatives and the World Trade Organization (WTO) to address the implications of the new tariffs.

This follows a recent meeting between the U.S. Ambassador and the Minister on March 26, 2025, where both nations reaffirmed their commitment to strengthening bilateral trade ties.

The statement highlighted the African Continental Free Trade Area (AfCFTA) as a critical avenue for reducing dependency on Western markets.

Nigeria is pushing for accelerated AfCFTA implementation, leveraging tools like the Pan-African Payment and Settlement System (PAPSS) to boost intra-African trade.

Backstory

The United States President, Donald Trump, recently imposed a global tariff on all U.S. trading partners, in what he dubbed “Liberation Day.”

• The decision sent global markets into a tailspin, as foreign investors sold off assets over fears of heightened uncertainty and potential reciprocal tariffs. In response, China retaliated with a 34% tariff on all U.S. imports into the country.

• The United States also imposed a 14% tariff against Nigeria, claiming the country operates a trade surplus.

• Based on Trump’s stated policy, this should have warranted a 28% tariff, but Nigeria received what Trump called a “concessionary” 14% rate.

• While the tariffs are not expected to significantly affect Nigeria’s trade position with the U.S., the likely impact will be felt on the crude oil front. Nigeria relies heavily on crude oil to shore up its foreign currency earnings and thus prefers higher oil prices.
Source: https://nairametrics.com/2025/04/06/nigeria-responds-to-u-s-tariff-imposition-says-new-policy-to-disrupt-non-oil-exports/