Trump’s 14% tariff threatens N323.96bn Nigerian non-oil exporters to US
President of the United States, Donald Trump, on April 2, 2025, announced the enforcement of sweeping tariffs on all goods imported into the country, a move that has placed over N323.96bn worth of Nigerian exports at risk.
Tagged the “Universal Baseline Tariff”, the policy imposes a 10 per cent levy on all imported products, with additional reciprocal tariffs for countries considered to maintain unfair trade practices.
While crude oil and energy-related goods are exempted from the new policy, Nigeria’s growing portfolio of non-oil exports to the U.S. may now face steep challenges.
Data from the National Bureau of Statistics for 2024 shows that Nigeria earned approximately N4.49tn from the export of crude oil and energy products to the United States.
These items, which include petroleum oils and gases, were the dominant export from Nigeria to the American market and have been spared from the fresh round of tariffs.
However, the country’s non-oil and non-energy exports—worth N323.96bn over the same period—are now subject to the new tariff regime.
A breakdown of Nigeria’s quarterly trade performance highlights how the country’s non-oil exports have grown in volume and variety.
In the first quarter of 2024, non-oil, non-energy exports to the U.S. were valued at N74.79bn.
These included flours and meals of soya beans worth N28.21bn, urea at N20.33bn, refined lead at N14.40bn, cashew nuts in shell at N11.09bn, and technically specified natural rubber valued at N769m.
These products represent key outputs in agriculture, fertiliser manufacturing, and industrial raw materials.
The second quarter recorded a significant rise in export volume to N123.23bn, driven largely by increased demand for urea, which soared to N86.54bn.
This was followed by refined lead at N21.88bn, flours and meals of soya beans at N9.44bn, and natural rubber at N4.37bn.
The sharp increase in urea exports within the period highlights Nigeria’s growing relevance in the global fertiliser market, particularly to U.S. agribusinesses.
In the third quarter, non-oil exports dipped slightly to N84.38bn. Urea remained the dominant product at N39.20bn, followed by refined lead at N18.94bn.
