Nigeria has explained why it has not yet signed a trade agreement with the United States despite ongoing talks. According to Tochukwu Nwachukwu, Special Adviser to the Minister of Trade, Industry, and Investment, Jumoke Oduwole, the government is adopting a “responsive, not reactive” approach following Washington’s imposition of tariffs on some Nigerian goods. Nwachukwu made the remarks in Lagos during a roundtable organised by the Nigerian-American Chamber of Commerce (NACC) in collaboration with the Nigerian Export Promotion Council (NEPC).
He said Nigeria’s decision was guided by wide consultations with the private sector, exporters, and large corporations to assess the impact of U.S. tariffs on different industries. At the government level, the ministry has also engaged agencies such as the Nigeria Export Promotion Council, Customs, the Central Bank of Nigeria, and the Economic Management Team to shape policy direction.
Ongoing talks with U.S. officials have centered on sensitive issues, including Nigeria’s prohibition list and tariff structures. Nwachukwu revealed that since March, the minister has met with the U.S. Ambassador in Abuja multiple times, as well as with the U.S. Trade Representative and Department of Commerce officials abroad. However, he stressed that while Nigeria values its strong economic relationship with Washington, it will not compromise its economic interests or rush into a deal that could weaken local industries.
On the subject of tariffs, the official clarified that Nigeria’s tariff policy is overseen by a statutory body under the Federal Ministry of Finance, with representation from Customs and the Ministry of Industry, Trade and Investment. A comprehensive tariff review is already in progress, but he noted that it is part of wider economic reforms and not a direct concession to U.S. demands.
Meanwhile, Nigeria is strengthening its global trade partnerships beyond the U.S. by engaging with the United Arab Emirates, Brazil, Japan, China, and African partners under the African Continental Free Trade Area (AfCFTA). Nwachukwu emphasized that AfCFTA remains a strategic priority for the government, which aims to boost regional integration while protecting Nigeria from becoming a dumping ground for foreign goods.
Source: Business day