The Nigerian government has announced a move to explore other trade markets following the recent announcement of U.S. trade tariffs.
Pan-Atlantic Kompass reports that this comes after United States President Donald Trump imposed a 15 percent tariff on Nigerian goods.
Reacting to the U.S. trade tariffs, Jumoke Oduwole, the minister of industry, trade, and investment, said Nigeria is expanding its trade options beyond the U.S.
She said Nigeria is exploring emerging economies in Asia, Latin America, and Africa.
In an interview on CNN’s Quest Means Business show, Oduwole said Nigeria is strengthening trade ties with Brazil, China, Japan, and the United Araab Emirates (UAE), while also doubling down on support for domestic businesses.
She also added that Nigeria remains committed to its economic reforms and will not be drawn into reactive trade disputes.
She said: “Nigeria remains responsive, not reacting. We’re focused on our reforms — on President Bola Tinubu’s 8-point agenda.
“It’s mostly an energy trading relationship. We’re also waiting to see what happens with the African Growth and Opportunity (AGOA) Act in September.
“Non-oil exports such as fertiliser, lead, some cocoa, and other commodities are performing well.
“Exports to the rest of Africa under the AfCFTA are up 24% year-on-year in Q1. The world is a big place. We are not just focusing on the US.”
“We have demand for urea fertiliser in Brazil. We’re looking at partnerships across Asia and the Gulf.
“The President is focused on supporting Nigerian businesses with market access and access to capital.
“We launched a commercial investment programme with the US in June, focused on infrastructure, agriculture, and digital trade,” Oduwole said.
“… the world is a big place. We have old friends, and we’re making new ones.”
Pan-Atlantic Kompass reports that this comes after Nigeria-U.S. trade suffered a setback as official data revealed a massive drop in trade volume and revenue in the first five months of 2025.
Official data from the U.S. Census Bureau and the Bureau of Economic Analysis revealed that the Nigeria-U.S. trade tensions have triggered a $527 million drop in Nigerian exports to the United States in the first five months of 2025, a 20% decline compared to 2024.
According to the data, U.S. imports from Nigeria fell from $2.65 billion to $2.12 billion.
That figure fell to $2.12bn between January and May 2025.
