Nigeria’s Trade, Industry and Investment Minister Jumoke Oduwole, yesterday highlighted how the Federal Government plans to cushion the effects of the trade policies being introduced by United States (U.S) President Donald Trump.
Oduwole, who assured that Nigeria, has the wherewithal to respond to the new tariffs listed while advancing a fresh export drive targeting the African Continental Free Trade Area (AfCFTA) and women-led MSME of some of the strategies.
She spoke on National television yesterday after different opinions from experts on how to survive the US tariff introduced by the US president.
Oduwole acknowledged that while the United States remains a vital trading partner particularly through the African Growth and Opportunity Act (AGOA) some Nigerian industries, including fertilizers, could face significant disruption due to shifting global trade dynamics.
“We have to also think about our second-largest fertilizers URA lead. Those are businesses that have been growing in market share. This gives them uncertainty, this gives them disruption to their operations, so we are working with those types of businesses,” she said.
Oduwole noted that AGOA has been largely beneficial, especially for Nigeria’s oil exports, but raised concerns that Micro, Small and Medium Enterprises (MSMEs), which are not covered under the agreement, may be more vulnerable.
With MSMEs contributing nearly 50per cent of the nation’s GDP, the Federal Government is intensifying efforts to diversify their export destinations targeting over 250 countries globally.
A key pillar of the government’s export push, she said, is the AfCFTA, which provides a significant opportunity to grow intra-African trade, especially for women-led and youth-led businesses.
“We have looked at that demographic and we identified the AfCFTA because it speaks to women-led businesses, youth-led businesses, it speaks to formalising the informal sector. It speaks to MSMEs and how they can attract foreign exchange by exporting across the continent,” the minister explained.
Addressing broader concerns around global trade instability, Oduwole emphasized that Africa’s relatively small share in global trade—between 3% and 5% means it is somewhat insulated from the full brunt of international trade wars.
“Africa is kind of insulated from global trade because we are less than five per cent about three per cent of global trade. So, the players that really dominate. We don’t want retaliation and then we end up being collateral damage or facing unintended consequences,” she said.
Despite the looming uncertainties, Oduwole reiterated the Tinubu administration’s commitment to proactive economic planning. The government’s strategy includes promoting digital trade, strengthening free zones, implementing tax reforms to support MSMEs, and intensifying diplomatic engagement with major global economies.
She highlighted recent high-level meetings with trade representatives from the United States, United Kingdom, China, Brazil, Japan, and the UAE as part of efforts to deepen Nigeria’s international trade ties.
“It’s time to really put your trade policy, your investment policy, and your investment attraction strategy to play. It puts you in a position where you can respond with confidence to situations like this,” Oduwole said.
