
Nigeria’s Non-Oil Exports at Risk from US Tariff Changes
The Federal Government of Nigeria has expressed concern over the recent imposition of a 14% tariff on Nigerian exports by the United States, citing potential disruptions to the nation’s non-oil exports.
Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, highlighted that while crude petroleum and related products constitute over 90% of Nigeria’s exports to the U.S., non-oil sectors such as fertilizers, urea, lead, and various agricultural products—previously benefiting from exemptions under the African Growth and Opportunity Act (AGOA)—now face increased tariffs.
The minister emphasized that these new tariffs could undermine the competitiveness of Nigerian goods in the U.S. market, particularly affecting small and medium-sized enterprises (SMEs) that had structured their business models around AGOA exemptions.
In response, the Nigerian government is committed to mitigating these impacts by accelerating economic diversification and enhancing the quality assurance of its exports to meet global standards.
This development underscores the importance of strengthening intra-African trade through frameworks like the African Continental Free Trade Area (AfCFTA) to reduce reliance on external markets and bolster regional integration.
For a detailed discussion on this topic, you can watch the following video: