The Federal Government has raised concerns over the far-reaching implications of new U.S. tariffs under President Donald Trump, warning that the move could disrupt Nigeria’s oil and non-oil exports to the American market.
In a statement released on Sunday, April 6, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, acknowledged the potential harm the tariffs could cause to Nigeria’s trade competitiveness, particularly for goods previously protected under the African Growth and Opportunity Act (AGOA).
“A significant portion (of Nigeria’s exports) — over 90 per cent — comprises crude petroleum, mineral fuels, oils, and gas products,” Oduwole explained.
“The second-largest export category, accounting for approximately 2–3 per cent, includes fertilizers and urea, followed by lead, representing around 1 per cent of total exports (valued at approx $82 million).”
She noted that Nigeria also exports small quantities of agricultural products such as live plants, flour, and nuts, which make up less than 2 per cent of the country’s total exports to the U.S.
The minister warned that a new 10 per cent tariff on key categories could damage the competitiveness of Nigerian goods in the U.S. market.
READ ALSO: Trump’s Sweeping Tariff Hikes Spark Global Trade Tensions
“While oil has long dominated Nigeria’s exports to the US, non-oil products—many previously exempt under AGOA—now face potential disruption,” she said.
“For businesses in the non-oil sector, these measures present destabilising challenges to price competitiveness and market access, especially in emerging and value-added sectors vital to our diversification agenda.”
Oduwole also highlighted the risks for small businesses, especially those reliant on AGOA benefits, adding that they would bear the brunt of increased costs and unpredictable 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,” she added.
Trump’s tariff policy—part of a broader move that includes levies of up to 50 per cent on a range of foreign products—has drawn criticism from global trade experts who argue it undermines decades of international cooperation.