section_path: Trade conflicts by country/Africa/Nigeria
section_name: Nigeria
paragraph_text: Nigeria
  
  During Trump's first term, Nigeria continued to benefit from the African Growth and Opportunity Act, a US trade initiative established in 2000 to improve economic relations with Sub-Saharan African countries by providing duty-free access to the US market for eligible nations. However, analysts were quick to notice that Nigeria was one of 48 nations with whom the United States maintained a trade imbalance. In 2024, Nigeria exported $5.29 billion in commodities to the United States while receiving $3.88 billion, resulting in a $1.4 billion trade surplus for Nigeria, making it a likely target of Trump's renewed foreign tariff policies.
  
  On April 2, Trump announced a 14% tariff on Nigerian goods. The Nigerian government avoided retaliation. Instead, Trade Minister Jumoke Oduwole said Nigeria would contact the WTO to find a mutually beneficial solution. Despite pledging not to retaliate, the minister did highlight the risks for AGOA and the Nigerian oil industry, whilst also stating this development had the chance to boost Nigeria's non-oil exports as well as meeting global standards and improving market acceptance into more economies across the globe. She also emphasized the urgent need to enhance intra-African trade through the African Continental Free Trade Area (AfCFTA). Since Nigeria relies on crude exports for 90% of its foreign exchange, immediate consequences were apparent with Nigeria's central bank selling nearly $200 million to support the naira currency.
  
  On April 12, 2025, the Federal Government set up a subcommittee to assess the direct and indirect impact of the recent trade tariffs announced by the United States on Nigeria's economy. On this regard, on April 16, Manufacturers Association of Nigeria (MAN) said the 14 percent tariff imposed on Nigerian exports to the United States of America.