President Donald Trump’s recent announcement of sweeping import tariffs has sent shockwaves through global trade networks — with Nigeria’s non-oil exports to the United States now facing a potential setback worth over ₦323.96 billion.
On April 2, 2025, Trump introduced a new trade directive known as the Universal Baseline Tariff, which imposes a 10% duty on all imported goods. The policy also includes additional retaliatory tariffs for countries the U.S. deems to have unfair trade practices. While crude oil and energy exports remain exempt under this policy, Nigeria’s fast-growing non-oil trade with the U.S. has not been spared.
According to data from the National Bureau of Statistics, Nigeria generated ₦4.49 trillion from crude oil and energy-related exports to the U.S. in 2024. However, the remaining ₦323.96 billion from non-oil, non-energy goods now faces increased trade barriers under the new tariff framework.
Over the past year, Nigeria’s non-oil exports to the U.S. have expanded significantly, both in volume and product diversity. In the first quarter of 2024 alone, goods worth ₦74.79 billion were shipped, with soya bean flour and meals accounting for ₦28.21 billion, followed by urea at ₦20.33 billion, refined lead at ₦14.40 billion, cashew nuts at ₦11.09 billion, and natural rubber at ₦769 million.
The second quarter marked a surge in trade, with exports climbing to ₦123.23 billion. This growth was largely driven by rising demand for urea, which contributed ₦86.54 billion. Other notable exports included refined lead at ₦21.88 billion, soya-based products at ₦9.44 billion, and rubber at ₦4.37 billion.
Although the third quarter saw a modest drop to ₦84.38 billion, urea continued to lead the chart with ₦39.20 billion in export value, reinforcing Nigeria’s growing role in the global fertiliser market and its importance to U.S. agricultural supply chains.
Trump’s new tariff policy threatens to disrupt this progress, posing serious implications for Nigerian exporters and the broader economic diversification agenda. With non-oil exports being a key focus of Nigeria’s trade policy, stakeholders are now assessing the potential fallout and considering strategies to navigate the shifting trade landscape.
