Nigeria says it is already pivoting toward regional and alternative trade partners as a 15% U.S. tariff on Nigerian goods takes effect Thursday.
Speaking to CNN on Wednesday, Nigeria’s Minister of Trade, Jumoke Oduwole, downplayed the immediate impact of the tariff, noting that the U.S.–Nigeria trade relationship is “mostly an energy trading relationship” and that the country is expanding efforts to diversify its exports and deepen regional trade.
“There are other markets. The world is a big place,” Oduwole said. “We’re looking at our integration strategy across Africa with the African Continental Free Trade Area (AfCFTA). Non-oil exports to the rest of Africa are up 24 percent year-on-year in Q1 this year.”
The new 15% tariff, introduced by President Donald Trump as part of a broader global tariff overhaul affecting over 90 countries, was first announced in April and temporarily paused. It now comes into force, with Nigeria listed among affected nations.
According to U.S. trade data, Nigerian goods make up less than 1% of all U.S. imports. Nigeria exported $5.7 billion worth of goods to the U.S. in 2024 and had a traded $1.4 billion trade surplus in goods with the country.
From Concern to Confidence
In April, Oduwole expressed concern over the U.S. tariff decision, warning of “destabilising challenges to price competitiveness and market access” for Nigeria’s non-oil exports. Now, the minister appears more optimistic.
She told CNN’s Richard Quest that Nigeria continues to explore alternative markets, including nations in the Global South and Asia.
“Urea fertiliser is in high demand in Brazil. We have trading partnerships with China, with Japan, with the UAE and so we continue to look for opportunities for our Nigerian businesses,” she said.
“We do have old friends, and we certainly are making new friends.”
While Nigeria still views the U.S. as a strategic economic partner, Oduwole said the country’s commercial investment strategy is now focused on infrastructure, agriculture, and digital trade.
Fallout and Missed Opportunity
Trump had initially suspended the tariff in April to allow affected countries a chance to negotiate, but Nigeria did not engage in talks. With the trade balance tilted in Nigeria’s favour – over a billion-dollar surplus – the U.S. eventually raised the tariff.
Nigeria could face further trouble though. In July, Trump threatened to slap an additional 10% tariff on countries aligned with the BRICS bloc. Nigeria became the ninth partner country of BRICS in January 2025.
It remains unclear whether oil and gas, Nigeria’s primary exports to the U.S., accounting for 90% of the country’s foreign exchange, will be exempt from the new tariffs, as they were in April.
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