Nigeria unfazed by Trump’s tariffs, trade policies — Tinubu

By Kunle Sanni –

President Bola Tinubu on Tuesday said Nigeria remains resilient and unshaken by the trade policy direction of U.S. President Donald Trump, including tariffs imposed on Nigerian exports.

Speaking at the Presidential Villa in Abuja while receiving members of The Buhari Organisation, led by former Nasarawa State Governor Tanko Al-Makura, Tinubu said his administration’s fiscal reforms and growing non-oil revenues provide a buffer against external shocks.

“If non-oil revenue is growing, then we have no fear of whatever Trump is doing on the other side,” the President said.

Tinubu noted that Nigeria has already met its 2025 revenue target as of August and highlighted recent stability in the naira, which has appreciated to about ₦1,450 per dollar from a previous rate of ₦1,900 following exchange rate unification in May 2023.

Trump’s second term has ushered in sweeping trade changes, including a 10 per cent baseline tariff on nearly all imports and additional country-specific levies. Nigerian exports now face a 15 per cent tariff effective August 7, up from the initial 14 per cent rate announced in April. Energy commodities such as oil and gas remain exempt.

The policy has contributed to global trade tensions and dampened energy product exports in early 2025, disrupting flows of crude oil, gasoline, and diesel.

Tinubu also pointed to progress in agricultural reforms, citing a nationwide mechanisation programme aimed at boosting food production.

“If we remove hunger, we have defeated poverty,” the President said, stressing that food security is central to Nigeria’s economic recovery.