{"id":157582,"date":"2025-04-03T15:16:05","date_gmt":"2025-04-03T14:16:05","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy"},"modified":"2025-04-04T16:05:26","modified_gmt":"2025-04-04T15:05:26","slug":"us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy","title":{"rendered":"US: CPPE explains how Trump\u2019s tariff will impact Nigerian economy"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Centre for the Promotion of Private Enterprise has explained that the shocks of United States of America President Donald Trump\u2019s administration\u2019s current tariff war may have limited impact on Nigeria\u2019s economy.<\/p>\n<p>The chief executive officer of CPPE, Dr Muda Yusuf, disclosed this in a statement on Thursday.<\/p>\n<p>His comments come as Trump on Wednesday unleashed several tariffs on countries and a 10 percent tariff on every import.<\/p>\n<p>The move had attracted outrage from world leaders, including those from Spain, Germany, and China.<\/p>\n<p>Reacting, CPPE said the vulnerability of the Nigerian economy to shocks of the current trade war unleashed by President Trump may be very limited. Averagely, Nigeria\u2019s external trade exposure to the United States is about 10 percent.<\/p>\n<p>In 2024, Nigeria\u2019s total merchandise export was valued at 50.4 billion dollars, and Nigeria\u2019s export to the United States that same year was 5.7 billion dollars, which was 11.3%. A tariff effect on about 10% of total exports is unlikely to cause a major upset in the Nigerian economy.<\/p>\n<p>Nigeria\u2019s major exports to the US are crude oil, petroleum gas, and nitrogenous fertiliser. While major US exports to Nigeria are mainly vehicles, wheat, and fuels.<\/p>\n<p>Other major export destinations for Nigerian products are Spain, France, the Netherlands, and Italy. Oil and gas products account for close to 90% of Nigeria\u2019s exports. This has been the position for about three decades.<\/p>\n<p>However, the Nigerian economy may be affected indirectly in some other ways. The Trump administration has practically brought closure to the AGOA trade window.<\/p>\n<p>\u201cSecondly, the trade war and the subsequent retaliatory tariffs would trigger inflationary pressures in the United States. This may result in elevated costs for imports into Nigeria from the United States. Thirdly, we are likely to witness some level of disruptions in global supply chains resulting from the tariff war. This could dampen the global growth outlook and affect crude oil prices. A decline in the oil price would impact Nigeria\u2019s foreign reserves and revenue.<\/p>\n<p>The worsening inflation outlook for the US economy may trigger monetary tightening by the US Federal Reserve. This may lead to higher interest rates and trigger portfolio flow reversals in emerging economies. This could have implications for the naira exchange rate.<\/p>\n<p>\u201cBut there are also opportunities for new trade partners globally. Many countries that are victims of the current trade war would seek new bilateral trade relationships, which may create opportunities for Nigerian investors,\u201d CPPE added.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Centre for the Promotion of Private Enterprise has explained that the shocks of United States of America President Donald Trump\u2019s administration\u2019s current tariff war may have limited impact on Nigeria\u2019s economy. The chief executive officer of CPPE, Dr Muda Yusuf, disclosed this in a statement on Thursday. His comments come as [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":157581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[10783,254,2096],"class_list":["post-157582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cppe","tag-nigeria","tag-nigerian-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US: CPPE explains how Trump\u2019s tariff will impact Nigerian economy - Nigeria<\/title>\n<meta name=\"description\" content=\"The Centre for the Promotion of Private Enterprise has explained that the shocks of United States of America President D ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US: CPPE explains how Trump\u2019s tariff will impact Nigerian economy\" \/>\n<meta property=\"og:description\" content=\"The Centre for the Promotion of Private Enterprise has explained that the shocks of United States of America President D ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-03T14:16:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-04T15:05:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/04\/sm_1743681126.454836.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"862\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"US: CPPE explains how Trump\u2019s tariff will impact Nigerian economy\",\"datePublished\":\"2025-04-03T14:16:05+00:00\",\"dateModified\":\"2025-04-04T15:05:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy\"},\"wordCount\":429,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/04\/sm_1743681126.454836.jpg\",\"keywords\":[\"CPPE\",\"Nigeria\",\"Nigerian Economy\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/us-cppe-explains-how-trumps-tariff-will-impact-nigerian-economy\",\"name\":\"US: CPPE explains how Trump\u2019s tariff will impact Nigerian economy - 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