Nigeria Can Withstand U.S. Tariff Hike with Strategic Reforms – Trade Leader

The Vice President of National and International Affairs for the West African Cross Border Traders group, Salami Nasiru Alasoadua, has urged Nigeria and its neighbors to reorganize and strengthen their economies in response to the recent 14% U.S. tariff on Nigerian exports. The new trade measure, announced by U.S. President Donald Trump under the “Make America Wealthy Again” campaign, aims to counteract what the U.S. sees as unfair global trade imbalances. This policy marks a significant shift in U.S.-Nigeria economic relations, potentially threatening Nigerian exports.

Alasoadua emphasized that instead of panicking, Nigeria must use this challenge as a catalyst for economic restructuring. He stressed the importance of reinforcing the national economy, which he views as foundational to both regional and continental prosperity. According to him, when Nigeria’s economy is strong, the broader West African region and Africa at large can better navigate global market changes.

He also advised Nigeria and other African countries to turn inward by increasing intra-African trade. “We should export among ourselves,” he said, while also pointing out existing barriers such as transit levies and border challenges that need resolution. He believes addressing these logistical issues is crucial for strengthening regional commerce and reducing dependency on external partners like the U.S.

Alasoadua highlighted Nigeria’s dominant role in West African trade, accounting for 70% of ECOWAS’ total trade volume across its 15 member states. He called on the Nigerian government to fix internal problems like insecurity and inadequate infrastructure, which he sees as critical to unlocking the full potential of the region’s economic influence and resilience against external shocks.

Source: punch