She warned that non-oil products, many of which previously benefited from exemptions under the African Growth and Opportunity Act (AGOA), may now be adversely affected.
The Federal Government has admitted that newly imposed U.S. tariffs on Nigerian exports will have negative consequences.
This was made public in a statement released on Sunday by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.
Oduwole warned that the move could significantly impact both oil and non-oil trade flows to one of Nigeria’s key markets.
An announcement by U.S. President Donald Trump introduced sweeping tariff measures that could see import duties rise as high as 50%. The policy shift, unveiled during a “Make America Wealthy Again” event at the White House’s Rose Garden, marks a sharp departure from the long-standing global commitment to free trade.
While providing the Federal Government’s first official response to the development, which has drawn widespread criticism from the European Union and various exporting countries, Oduwole emphasised that the newly introduced tariffs could undermine the competitiveness of Nigerian products in the U.S. market and disrupt business activities, particularly within the non-oil export sector.
“Nigeria’s exports to the United States over the past two years have consistently ranged between $5 billion and $6 billion annually,” she noted.
“Over 90% of these exports comprise crude petroleum, mineral fuels, oils, and gas-related products. Fertilisers and urea make up the second-largest export category, accounting for approximately 2–3%, while lead exports contribute around 1%—about $82 million in value.”
The minister added that smaller volumes of agricultural exports—including live plants, flour, and nuts—represent less than two percent of Nigeria’s total exports to the U.S.
She warned that non-oil products, many of which previously benefited from exemptions under the African Growth and Opportunity Act (AGOA), may now be adversely affected. The new 10% tariff on certain product categories could diminish Nigeria’s price competitiveness and restrict access to the U.S. market, especially for value-added and emerging sectors critical to Nigeria’s economic diversification.
“Small and medium-sized enterprises that built their business models around AGOA exemptions will now face increased costs and unpredictable buyer demand,” Oduwole stated.
She stressed that this challenge reinforces Nigeria’s commitment to boosting non-oil exports by improving quality assurance, control mechanisms, and traceability systems to align with global standards—ultimately enhancing the global acceptance of Nigerian products.
