Nigeria has not struck a comprehensive trade deal with the United States because the government is prioritising consultation over quick retaliation.
This was according to Tochukwu Nwachukwu, a special adviser to the Nigerian Minister for Trade, Industry and Investment, Jumoke Oduwole. Nwachukwu, who was representing the federal minister at a roundtable in Lagos. The roundtable was organised by the Nigerian American Chamber of Commerce (NACC) in collaboration with the Nigerian Export Promotion Council (NEPC).
Speaking during the panel session at the roundtable, he noted that the government decided against taking “knee-jerk” or retaliatory steps after Washington imposed tariffs on some Nigerian goods. Instead, the approach was to be “responsive, not reactive.”
To achieve this, the ministry began wide consultations with the Nigerian private sector. He noted that large corporations, exporters, and the organised private sector were asked to submit written input on how U.S. tariffs affected their industries.
At the government level, discussions also included agencies such as the Nigeria Export Promotion Council, Customs, the Central Bank of Nigeria, and the Economic Management Team.
Ongoing talks with the United States
“These engagements formed the basis for our conversation with the U.S. government,” the representative noted. He also added that since March, the minister has met with the U.S. Ambassador in Abuja on at least four occasions, while also holding sessions abroad with the U.S. Trade Representative and Department of Commerce officials. According to the official, these talks have all aimed to understand the position of the U.S. government and how Nigeria should respond.
Despite these talks, progress toward a formal deal remains slow. The minister, according to the representative, has emphasized that while Nigeria values its “robust economic relationship” with Washington, it will not compromise its economic interests. Issues raised by U.S. negotiators include Nigeria’s prohibition list and tariff structures. And the government insists it will review these cautiously to avoid undermining local industries.
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On tariffs, the official clarified that Nigeria has a statutory body responsible for tariff policy under the Federal Ministry of Finance. The Ministry of Industry, Trade and Investment, along with Customs and other agencies, is represented on that committee.
The minister noted that a comprehensive review of tariffs is already underway. Adding that the review is not a direct response to U.S. demands but part of Nigeria’s broader economic reforms.
Beyond the U.S., Nigeria is also deepening ties with “new friends” such as the United Arab Emirates, Brazil, Japan, and China, while paying particular attention to opportunities within Africa.
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The official also noted that the government sees the African Continental Free Trade Area (AfCFTA) as a strategic priority. It wants to ensure Nigeria can benefit from the agreement without becoming a dumping ground for foreign goods.
