New US tariffs pose limited risk to Nigeria – Think tank

The Centre for the Promotion of Private Enterprise says the US’s new 12.5% tariff on Nigerian imports poses limited risk to the country’s export revenue, since crude oil and petroleum products — over 80% of Nigeria’s US-bound exports — are exempt.

CEO Muda Yusuf says the tariff, imposed under Section 301 of the US Trade Act over alleged forced-labour violations, continues Washington’s broader protectionist trend. Citing Q1 2026 trade data, he noted the US ranks only fifth among Nigeria’s export destinations at 5.56%, behind India, France, the Netherlands and Spain.

While agricultural and manufactured goods exporters may lose some competitiveness, CPPE called the overall impact “a question of materiality,” urging Nigeria to diversify exports and deepen AfCFTA engagement.

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