Trade Minister Jumoke Oduwole says Nigeria is diversifying trade partnerships after President Donald Trump reimposed 15% tariffs on Nigerian exports, stressing the nation will remain “responsive, not reactive.”
Nigeria is widening its trade partnerships beyond the United States following the reimposition of 15% tariffs by President Donald Trump, Minister of Industry, Trade, and Investment Jumoke Oduwole has said.
Speaking on CNN’s Quest Means Business, Oduwole confirmed Nigeria’s exports to the US — worth over $5 billion in 2024 — are now subject to higher duties. “Nigeria remains responsive, not reacting. We’re focused on our reforms — on President Bola Tinubu’s 8-point agenda,” she said.
The minister noted that non-oil exports, such as fertiliser, lead, and cocoa, are performing strongly, with intra-African exports up 24% in Q1 under AfCFTA. Nigeria is strengthening ties with Brazil, China, Japan, and the UAE while maintaining the US as a “strategic trading partner.”
“We have old friends, and we’re making new ones,” Oduwole said, adding that recent reforms in FX policy, subsidy removal, and tax infrastructure aim to boost investor confidence.