The Federal Government has raised concerns over a 14 percent tariff imposed on Nigerian goods by the administration of US President Donald Trump, warning that the measure could undermine both oil and non-oil exports.
Minister of Industry, Trade and Investment, Jumoke Oduwole, said the development risks weakening Nigeria’s trade position in the US market, particularly in sectors where price competitiveness and market access are crucial.
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She noted that Nigerian exports to the United States have averaged between $5 billion and $6 billion annually over the past two years, a figure now potentially at risk.
Mrs Oduwole also pointed to the likely impact on small and medium-sized enterprises that benefit from the African Growth and Opportunity Act. These businesses, she warned, may face increased costs and reduced buyer confidence, making US market access more difficult.
Despite the challenge, the minister reaffirmed the government’s commitment to cushioning the effects of the tariff and accelerating efforts toward economic diversification.
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