U.S. 15% Tariff on Nigerian Goods Takes Effect Thursday, Threatening $12bn Exports

The United States will begin enforcing a new 15% tariff on Nigerian exports next week Thursday, a move expected to hit the country’s oil-dependent economy and strain its trade ties with Washington.

President Donald Trump, on July 31, 2025, signed an executive order titled “Further Modifying the Reciprocal Tariff Rates”, adjusting import duties on goods from several countries, including Nigeria. The new rate comes after a previously imposed 14% tariff was suspended for 90 days in April to allow negotiations — talks that ultimately failed to yield a deal.

Washington says the measure targets nations with significant trade surpluses with the U.S., with Nigeria’s standing at $3.29 billion. Nigerian exports to the U.S., worth $10–$12 billion annually, are dominated by crude oil, agricultural products, and textiles, all now set to be affected.

Trade Minister Jumoke Oduwole has ruled out immediate retaliation, pledging instead to pursue domestic reforms and possibly challenge the tariff at the World Trade Organization (WTO).

Economic analysts warn of rising production costs, reduced export volumes, and deeper pressure on the naira, which has already fallen to N1,555 per dollar. The Central Bank of Nigeria has intervened by selling $200 million to help stabilise the currency.

The tariff is part of a wider U.S. protectionist push targeting over 60 countries. The European Union and Japan face the same 15% duty, while India is hit with 25% and South Africa 30%. Global markets have reacted with sell-offs, and African economies are eyeing closer trade ties with China and the EU in response.