Yemisi Izuora
Tariff imposition on some category of imports from Nigeria by the United States may have infinitesimal impact on Nigeria’s economy.
According to an economist and the Chief Executive Officer (CEO) of the Center for the Promotion of Private Enterprise (CPPE) Dr. Muda Yusuf, the listed products affected under the tariff scheme account for only a small proportion of Nigeria’s total exports, while the dominant export category to the U.S. remains outside the scope of the tariffs.
Yusuf, expressed optimism that despite the apprehension within the nation’s business space on the recent decision by the US, to introduce a 12.5 per cent tariff on imports from Nigeria, the development may be of little economic impact to the country’s, afterall.
He argued that the impact of the tariffs, which also affected about 60 trading partners of the US, might be of little economic impact, from Nigeria’s perspective, since its exports to the US are heavily concentrated in crude oil, liquefied natural gas and other petroleum products.
Those products, accounting for more than 80 per cent of Nigeria’s merchandise exports to the U.S., it stated, have been exempted from the tariff measures, leaving the bulk of Nigeria’s exports unaffected.
CPPE also noted that Nigeria might not be adversely affected since the US is not the nation’s largest export market.
Quoting Nigeria’s first-quarter 2026 merchandise trade statistics, the Centre noted that out of the total exports, which stood at approximately N21.6 trillion, exports to the US only accounted for 5.56 per cent.
“By comparison, India accounted for 13.09 per cent, France 9.29 per cent, the Netherlands 9.22 per cent, and Spain 7.68 per cent. The United States ranked only the fifth-largest destination for Nigerian exports during the quarter.
“These trade patterns significantly moderate Nigeria’s exposure to the new tariff regime,” it added.
The centre stated further that, while some non-oil exporters, particularly in agriculture and manufacturing, may experience reduced competitiveness in the U.S. market, the overall impact on Nigeria’s export earnings, foreign exchange receipts and macroeconomic performance is expected to be modest.
It, however, described the development as reflecting a broader structural shift in global trade policy, which reinforces the trend towards greater protectionism, industrial policy and strategic use of trade instruments to advance domestic economic objectives.
The Centre, therefore, called for a stronger emphasis on export diversification, enhanced manufacturing competitiveness, increased domestic value addition and deeper regional integration under the African Continental Free Trade Area (AfCFTA).
It also urged the country to sustain efforts at strengthening labour standards, improving supply chain transparency and engaging proactively with the United States through diplomatic and trade channels to seek clarity on the implementation of the new measures and minimise any adverse effects on affected exporters.