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Nigeria’s President Bola Tinubu on Tuesday in Abuja declared that his government remains steadfast and is not intimidated by United States, US, President Donald Trump’s trade policies, including new tariffs imposed on Nigerian exports.
Tinubu made the comments while hosting members of The Buhari Organisation, led by former Nasarawa State Governor Senator Tanko Almakura, who visited him at the Presidential Villa to show solidarity.
The president explained that Nigeria’s economic progress and expanding non-oil revenues provide protection against external shocks.
“If non-oil revenue is growing, then we have no fear of whatever Trump is doing on the other side,” he stated.
Tinubu pointed to Nigeria’s improved fiscal outlook, noting that the country had already achieved its 2025 revenue target by August. He also highlighted currency stability, saying the naira had strengthened to about ₦1,450 per dollar, up from ₦1,900, following his administration’s exchange rate unification in May 2023.
Trump’s return to office has ushered in sweeping trade reforms, including a 10 percent general tariff on nearly all imports, alongside additional country-specific levies. In April, he announced new reciprocal tariffs under his “America First” agenda, ranging between 11 percent and 50 percent on top of the baseline.
Nigeria now faces a 15 percent tariff on exports, effective August 7, up from the 14 percent announced earlier. Oil and gas, however, remain exempt. Still, global energy exports have slowed in 2025 due to wider trade tensions, affecting crude, gasoline, and diesel markets.
Tinubu also emphasised agricultural reforms, particularly large-scale mechanisation efforts, saying: “If we remove hunger, we have defeated poverty,” underscoring food security as central to Nigeria’s recovery.
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