US Tariff puts Non-Oil Exports at Risk – Trade Minister

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The Federal Government of Nigeria has finally responded to the recent imposition of a 14% tariff on Nigerian exports by the United States by stating its commitment to mitigating the impact while accelerating economic diversification.

The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, in a statement which was released on Sunday, said that the new tariff on key categories may impact the competitiveness of Nigerian goods in the U.S.

It said while oil has long dominated Nigeria’s exports to the US, non-oil products—many previously exempt under the African Growth and Opportunity Act (AGOA) now face potential disruption.

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“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.

“SMEs building their business models around AGOA exemptions will face the pressures of rising costs and uncertain buyer commitments,” it added.

The government, however, said it sees this as a catalyst to fast-track export diversification and improve compliance with international standards.

“We are approaching this moment with pragmatism and purpose—turning global trade challenges into opportunities to grow our non-oil export footprint and build a more resilient economy,” said Dr. Oduwole.

She said the President Bola Tinubu administration has rolled out policy, financing, and infrastructure measures to help Nigerian businesses adapt, including: Expanding alternative export markets outside the U.S.; Enhancing quality control and traceability for Nigerian goods; and Strengthening trade diplomacy to secure favourable terms.