Foreign
Trump’s tariff threatens $10bn US-Nigeria trade
•Nigeria’s crude revenue may plunge as US begins enforcement Wed, NACCIMA raises concerns
The newly imposed 14 per cent tariff by US President Donald Trump on exports by Nigerian businesses presents a significant risk to the $10bn annual exports to the United States, potentially disrupting key sectors such as oil export and agricultural trade, experts and trade associations concerned about a potential global trade war stated on Thursday.
The economic experts, in separate interviews noted that the policy, which would raise the prices of goods and services for consumers, would weaken the standard of living, slow down manufacturing activities, hinder international trade and consequently weaken demand for Nigerian oil in the US, one of its key markets.
The experts also predicted that Nigeria’s oil earnings were poised for a significant decline following the announcement of the new tariff regime.
National President of the Nigerian-American Chamber of Commerce, Sheriff Balogun, stated that since the inception of the African Growth and Opportunity Act in 2000, Nigeria had exported an estimated $277bn worth of goods to the United States, with crude taking the majority.
Nigeria’s exports to the United States currently average between $10bn and $12bn annually, although it has been fluctuating in recent years, according to US and Nigerian trade data.
Trump had announced in a decision widely condemned by the European Union and exporting nations that countries seeking to sell goods to the United States would now face taxes as high as 50 per cent.
The announcement, made during a ‘Make America Wealthy Again’ event in the Rose Garden, marked a dramatic shift from decades of free-trade orthodoxy that had underpinned the global economy since World War II.
He said the new sweeping tariffs of at least 10 per cent on all countries were part of a broader strategy aimed at rebalancing global trade and addressing perceived unfair trade practices.
According to the Trump administration, Nigeria imposes a 27 per cent tariff on US exports, a disparity they claim has long been detrimental to American businesses and consumers. It said the higher tariffs were charged through currency manipulation and trade barriers.
Our correspondent gathered that the reciprocal tariff was calculated based on the trade deficit for the US in goods with the particular country divided by the total goods imports from that country, and then divided that number by two. A trade deficit occurs when a country buys (imports) more physical products from other countries than it sells (exports) to them.
In his address, Trump framed the tariff as part of a larger initiative to protect American industries and ensure that other nations play by what he described as “fair” trade rules.
Trump declared the start of what he called a new era of “fair trade”, promising to “supercharge America’s industrial base” and force open foreign markets long accused of shutting out US goods.
“This is one of the most important days in American history,” Trump said. “We will supercharge our domestic industrial base. We will pry open foreign markets and break down foreign trade barriers, and ultimately, more production at home will mean stronger competition and lower prices for consumers.
“This will be, indeed, the golden age of Americans coming back. We are going to come back very strongly.”
Responding to the development, NACC president Balogun warned that the policy could impact trade volumes worth $277bn.
“Since the African Growth and Opportunity Act began in 2000, Nigeria has exported an estimated $277bn worth of goods to the United States under the programme,” he stated. “The vast majority of this trade value comes from crude oil shipments, with petroleum products overwhelmingly dominating Nigeria’s AGOA exports each year. In fact, oil alone accounts for nearly all of Nigeria’s exports under the initiative by value.”
Economic experts say this move threatens Nigeria’s exports to the US, particularly petroleum goods, its major export product. With oil accounting for the bulk of Nigeria’s export revenue, the move could exacerbate economic challenges, including a weaker naira and rising inflation. Additionally, reciprocal tariffs on imported goods like wheat and vehicles could further drive up local prices, compounding the financial strain on businesses and consumers alike.
According to Afreximbank research, the 14 per cent reciprocal tariff will reduce oil demand and lower forex earnings, while higher tariffs on wheat and vehicles may increase local prices; key exports include oil, cocoa, and rubber, while key imports include wheat, refined petroleum, and vehicles.
It added that these tariffs could reduce export revenues, increase production costs, and disrupt investment flows, particularly for nations heavily reliant on US trade.
Nigeria’s main exports to the U.S. included crude petroleum, petroleum gas, and nitrogenous fertilisers, flour and meals of soya beans, urea, refined lead, flowers buds and natural gas, while the western country mainly exported cars, refined petroleum, and wheat to Nigeria.
According to the National Bureau of Statistics, Nigeria’s trade with the United States reached a combined N31.1 trillion in ten years between 2015 and 2024. An analysis of the foreign trade report showed that N16.4tn was recorded as exports and N14.71tn in imports, indicating a trade surplus of N1.64tn
A breakdown showed that Nigeria exported goods worth N344.27bn in 2015 and received N581.99bn as imports. In 2016, it increased to N1.03tn in exports and N706.09 in imports. Exports surged to N1.73tn in 2027, N1.094tn in 2018, N1.01tn in 2019 before dropping to N382.19bn in 2020 due to the pandemic. By 2021, exports increased to N800.34bn, N1.82tn in 2022, N2.61tn in 2023 and N5.52tn in 2024.
The tariffs also come just as the US began importing jet fuel from Nigeria’s Dangote Refinery, with six vessels carrying 1.7 million barrels arriving this month.
The CEO, Cowry Asset Management Limited, Johnson Chukwu, explained that crude oil exports from Nigeria may remain unaffected by the tariff.
Chukwu added that while Nigeria was not a major non-oil exporting nation, the larger concern is that the US tariffs could lead to reduced global production. “Once production declines, demand for crude will fall, bringing down oil prices and likely affecting Nigeria’s projected revenue for the year,” he warned.
Beyond crude oil, the broader implications of the tariff war include rising consumer prices and weaker economic activity worldwide.
The economist noted that as countries adjusted to the new trade landscape, the cost of goods and services would rise, leading to a lower standard of living and a slowdown in manufacturing and international trade.
“However, at the general level, what Trump has done would trigger a higher cost of goods and services globally because countries would add it to their economies and it will be borne by final consumers. So, prices will go up in almost all the jurisdictions, the standard of living will weaken, manufacturing activities will slow down, and international trade will slow down. Ultimately, where it will affect Nigeria is that the demand for crude will decline because production will go down, and once the demand reduces, it means the price will come down and likely affect the projected revenue from crude sales this year. We are not a strong non-oil exporting country, so it may not affect our agricultural products, but reduced demand will affect our crude revenue,” he added.
Already, crude oil prices took a sharp hit on Thursday, with Brent crude dropping below $70 per barrel following an unexpected increase in production by OPEC+.
The CEO, Centre for Promotion of Private Enterprises, Muda Yusuf, highlighted the indirect effects Nigeria might face.
“The Trump administration has practically brought closure to the AGOA trade window. Additionally, the trade war and retaliatory tariffs could trigger inflationary pressures in the U.S., leading to higher costs for imports into Nigeria,” he said.
Yusuf also warned that disruptions in global supply chains could weaken economic growth worldwide, potentially lowering crude oil prices — a development that would reduce Nigeria’s foreign reserves and revenue.
Despite these challenges, Yusuf noted that the shifting trade landscape could present new opportunities for Nigeria.
“Many countries affected by the trade war will seek new bilateral trade relationships, which may create investment opportunities for Nigerian businesses,” he explained.
However, he cautioned that if US inflation worsens, the Federal Reserve may tighten monetary policy, leading to higher interest rates and capital outflows from emerging economies—potentially putting further pressure on the naira’s exchange rate.
On his part, the Director General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Sola Obadimu, urged the Federal Government to focus on domestic economic growth rather than overreacting to U.S. policies.
He emphasised that every country, including the United States, implemented policies in its best interest, and Nigeria must do the same to protect its economy and create jobs.
Obadimu explained that the tariff aligned with former US President Donald Trump’s “America First” agenda, aimed at revitalising domestic industries and creating employment opportunities for American citizens.
“Trump’s goal has always been to make America great again, and one way to achieve that is to get factories running again,” he said. “Many factories in the U.S. have shut down due to outsourcing, and this policy is designed to discourage imports, boost local production, and generate jobs. It’s a valid argument.”
However, he stressed that the real concern for Nigeria should be its own economic strategy. He pointed out that the country exports mostly crude oil and raw agricultural products with little value added, effectively outsourcing jobs instead of creating employment locally. To address this, he called for policies that prioritize industrialization and job creation.
“We cannot industrialise on generators. We should aim for 150,000 megawatts of electricity, add value to our products, and employ more people,” he urged. While noting that Trump’s policies could be overturned by a future administration, Obadimu emphasised that Nigeria must take proactive steps to safeguard its economy from external shocks and long-term poverty.
In addition to the 14 per cent tariff on Nigerian exports, Trump also unveiled a broader trade policy that included a baseline 10 per cent tariff on all US imports.
The new tariffs, which take immediate effect, apply to more than 50 countries.
They include major trade partners like China, the European Union, India, and Japan, as well as developing economies in Asia, Africa and Latin America.
The new policy is a dramatic shift in global trade and economic policy, rattling markets and stirring fears of a global trade war.
Aside from Nigeria, some African countries that will bear the brunt of the new policy include Algeria (30 per cent); Lesotho (50 per cent); Mauritius (40 per cent); Kenya (10 per cent); Namibia (21 per cent) and Ethiopia as well as Ghana 10 per cent apiece. South Africa was handed down a reciprocal tariff of 30 per cent.
Other countries, including China, got 34 per cent, India (26 per cent), South Korea (25 per cent), Japan 24 (per cent), Taiwan (32 per cent), United Kingdom (10 per cent), Vietnam (46 per cent), Switzerland (31 per cent), Cambodia 49 (per cent) South Africa (30 per cent), Indonesia (32 per cent), Brazil (10 per cent) and Singapore (10 per cent).
Trump said the baseline 10 percent tariff would start on April 5, while higher rates on various partners would begin on April 9.
The administration of United States President Donald Trump has finalised a new rule limiting most foreign students and exchange visitors to a maximum stay of four years, unless they obtain an extension from the federal government, The Washington Post reported on Thursday.
The new regulation, announced by the Department of Homeland Security (DHS), ends the long-standing “duration of status” policy, which allowed international students to remain in the United States for the length of their academic programmes, provided they complied with visa requirements.
The restriction applies to holders of F-1 student visas and J-1 exchange visitor visas.
According to The Washington Post, the DHS acknowledged concerns that some students may struggle to complete their academic programmes within the new timeframe, noting that many bachelor’s degree programmes take more than four years to complete, while doctoral programmes often require significantly longer.
Homeland Security Secretary Markwayne Mullin said the change was necessary to strengthen immigration enforcement and reduce visa overstays.
“For nearly half a century, the outdated ‘duration of status’ system has compromised national security and created an environment ripe for immigration fraud,” Mullin said.
The policy has drawn criticism from NAFSA: Association of International Educators, which described the move as unnecessary and warned that it would create uncertainty for international students.
“DHS’ decision to end Duration of Status is a misguided and unnecessary policy shift that injects uncertainty, bureaucracy, and fear into a system that has long worked effectively,” NAFSA Executive Director Fanta Aw said.
The new rule comes as many US colleges and universities continue to face challenges in attracting international students amid tighter immigration policies and visa restrictions introduced by the Trump administration.
A coroner’s court in the United Kingdom has ruled that a 27-year-old Nigerian woman, Beatrice Solomon, died by suicide after battling mental health challenges linked to personal difficulties.
Beatrice, who relocated from Nigeria to the UK on a skilled worker visa in November 2023, was found unresponsive in her home on Norris Road, Stanfield.
According to a report by The Sentinel on Sunday, the inquest heard that her husband, Damian Butler, had left home for his delivery job at about 4:30 pm on the day of the incident before returning approximately two hours later to use the toilet, where he discovered his wife unresponsive.
A police officer, PC Hinchliffe, told the court that emergency responders arrived shortly afterwards, but Beatrice was pronounced dead at the scene at 6:21pm.
According to the report, the investigators ruled out any third-party involvement in her death.
During the hearing, Butler told the court that his wife had struggled with her mental health over the past year, which he attributed to ongoing issues involving Stoke-on-Trent City Council.
He also disclosed that he later became aware that Beatrice had made two previous attempts to take her life.
“It is clear to me that Beatrice had researched and planned how to take her life. I can only extend my sincere condolences to Beatrice’s family and friends,” the coroner said.
Beatrice, who worked as a carer in the UK, is survived by her husband, a son, and her siblings.
This tragedy highlights the emotional and mental health challenges some migrants may face while adjusting to life in a new country.
According to the World Health Organisation, research from various countries has shown that some migrants face increased mental health risks due to factors such as separation from their families, financial stress, uncertainty, discrimination, and cultural barriers.
The WHO stated that the findings underscore the need for accessible mental health support and timely interventions for migrants experiencing psychological distress.
Israel recently shared intelligence with the US about a new Iranian plot to assassinate President Trump, according to a report.
The latest assassination plan, reported by the Wall Street Journal on Thursday, comes after years of Iranian regime threats to kill Trump as revenge for the 2020 killing of Islamic Revolutionary Guard Corps Gen. Qasem Soleimani by US forces.
When asked for comment, the White House referred The Post to Trump’s Wednesday remarks at the NATO summit in Ankara.
Trump traveled to Turkey on his new Qatari “palace in the sky” plane, but took a different Air Force One home. The plane switch was a strategic “distraction” to keep the commander-in-chief safe, the White House said.
War Secretary Pete Hegseth, who accompanied the president to the summit, was instructed not to travel to Israel as planned shortly before Trump chose to switch planes in Turkey. It’s unclear if the Iranian threat extended to the war secretary.
Trump terminates remaining members of Election Assistance Commission after landmark Supreme Court ruling expanded his powers
The Journal report did not include details of the alleged assassination plot.
The Israelis tipped the US off about the plot earlier this week. The specific threat was not being tracked by US officials before Israel’s warning and has yet to be vetted, CNN reported.
A banner against President Trump is held in Tehran as mourners gather on the day of burial of Iran’s late Supreme Leader Ayatollah Ali Khamenei.
The warning comes as Trump’s relationship with Israeli Prime Minister Benjamin Netanyahu has become somewhat fraught amid the Iran war.
Trump on June 1 told Netanyahu he was “f–king crazy” over his attacks on Lebanon, fearing they would provoke more war with Iran.
”You’d be in prison if it weren’t for me. I’m saving your ass. Everybody hates you now. Everybody hates Israel because of this,” a US official summarized Trump’s comments, which the president later confirmed to The Post.
The world leaders have spoken on at least two occasions since the tense June 1 call, including Thursday, and have agreed to meet “in the near future,” according to Netanyahu’s office.
Banners vowing revenge against Trump were on full display in Tehran this week as Iranians prepared to bury late supreme leader Ayatollah Ali Khamenei, who was killed on the first day of the war.
This was disclosed in a statement released on the website of the US Department of Homeland Security (DHS) on Wednesday.
The DHS claimed that these individuals have been placed on what it described as its “worst-of-the-worst” criminal register.
While the names and photos have been made public, the timeline for deportations remains undisclosed.
However, the US immigration authorities explained that the deportations are part of ongoing immigration enforcement, stressing that those listed were convicted of serious crimes, but declined to provide details about the offences or when deportations would take place.
The statement read: “The U.S. Department of Homeland Security is highlighting the worst of worst criminal aliens arrested by the U.S. Immigration and Customs Enforcement (ICE).
“Under DHS leadership, the hardworking men and women of DHS and ICE are fulfilling President Trump’s promise and carrying out mass deportations – starting with the worst of the worst – including the illegal aliens you see here.”
The website then listed: “Sunday Adediora, Sunday Kunkushi, Mkpouto Etukudoh, Marcus Unigwe, Olaniyi Ojikutu, Boluwaji Akingunsoye, Ejike Asiegbunam, Emmanuel Mayegun Adeola, Bamidele Bolatiwa, Ifeanyi Nwaozomudoh, Aderemi Akefe, Solomon Wilfred, Chibundu Anuebunwa, Joshua Ineh, Usman Momoh, Oluwole Odunowo, Bolarinwa Salau, Oriyomi Aloba.”
Others are Oludayo Adeagbo, Olaniyi Akintuyi, Talatu Dada, Olatunde Oladinni, Jelili Qudus, Abayomi Daramola, Toluwani Adebakin, Olamide Jolayemi, Isaiah Okere, Benji Macaulay, Joseph Ogbara, Olusegun Martins, Kingsley Ariegwe, Olugbenga Abass, Oyewole Balogun, Adeyinka Ademokunla, Christian Ogunghide, Christopher Ojuma, Olamide Adedipe, Patrick Onogwu, Olajide Olateru-Olagbegi and Omotayo Akinto.
There are also Kenneth Unanka, Jeremiah Ehis, Oluwafemi Orimolade, Ayibatonye Bienzigha, Uche Diuno, Akinwale Adaramaja, Boluwatife Afolabi, Chinonso Ochie, Olayinka A. Jones, Theophilus Anwana, Aishatu Umaru, Henry Idiagbonya, Okechukwu Okoronkwo, Daro Kosin, Sakiru Ambali, Kamaludeen Giwa, Cyril Odogwu, Ifeanyi Echigeme, Kingsley Ibhadore, Suraj Tairu, Peter Equere, Dasola Abdulraheem, Adewale Aladekoba, and Akeem Adeleke.
Also listed were Bernard Ogie Oretekor, Abiemwense Obanor, Olufemi Olufisayo Olutiola, Chukwuemeka Okorie, Abimbola Esan, Elizabeth Miller, Chima Orji, Adetunji Olofinlade, Abdul Akinsanya, Elizabeth Adeshewo, Dennis Ofuoma, Quazeem Adeyinka, Ifeanyi Okoro, Oluwaseun Kassim, Olumide Bankole Morakinyo, Abraham Ola Osoko, Oluchi Jennifer and Chibuzo Nwaonu.
The latest action is part of the sweeping immigration enforcement measures introduced by the administration of US President Donald Trump after his return to office on January 20, 2025.
On his first day back in office, Trump signed a series of executive orders declaring illegal immigration a national emergency and directing federal agencies to intensify border security and accelerate the removal of undocumented migrants.
One of the orders, titled: “Protecting the American People Against Invasion, instructed immigration authorities to prioritise the arrest and deportation of removable migrants, particularly those considered threats to public safety and national security.”
Defending the policy, the DHS said the administration was delivering on Trump’s campaign promise to carry out mass deportations, beginning with what it described as the “worst of the worst” criminal offenders.
The department said officers of the US Immigration and Customs Enforcement had been directed to intensify operations nationwide against non-citizens convicted of serious crimes.
White House Press Secretary Karoline Leavitt has also defended the crackdown, saying the administration remained committed to enforcing immigration laws and removing undocumented immigrants with criminal records in line with President Trump’s immigration agenda.Executive Branch
Official US immigration data indicate that Guatemala has recorded the highest number of deportees since the renewed crackdown began, followed by Honduras, Mexico and El Salvador, reflecting the administration’s focus on migrants from Latin America.
The US has also expanded deportation flights to countries across Africa, Asia and the Caribbean as enforcement operations continue.
Nigeria has also come under increased scrutiny by the Trump administration. In June, Washington imposed partial visa restrictions on Nigerian citizens, citing concerns over identity management, information sharing, visa overstay rates and security screening.Demographics.
The PUNCH
The parents of a Nigerian student convicted of robbery and blackmail in the United Kingdom have appealed to the authorities to review the verdict, insisting that their son was wrongly convicted and is innocent of all the charges against him.
Mr Aderinkola Akinrinola and Mrs Olayinka Akinrinola made the appeal in a statement released in Ibadan, Oyo State, on Thursday, following the conviction of their son, Oluwatobiloba Akinrinola, by a UK court on June 19, 2026.
He is currently being held in a prison in Nottingham pending his sentencing, scheduled for July 27.
The distraught parents alleged that the conviction was based largely on circumstantial evidence and their son’s association with the principal suspect in the case.
They explained that their son met Richile Vagnu shortly after resuming his studies as a first-year student at Leicester University in September 2025, describing their relationship as that of acquaintances rather than close associates.
“Our son was present at the party where the incident took place, but he was never involved in the robbery,” the parents said.
They claimed that some of the victims testified in court that Oluwatobiloba was not among those who robbed them and that he only briefly entered the room where the incident occurred, asked what was happening and left after making it clear that he did not want to be involved.
The parents further stated that investigators found evidence of money transfers made by victims to accounts linked to other suspects, but found no such transactions in their son’s bank records.
They also alleged that CCTV footage presented during the trial did not place their son at the scene of the alleged robbery, apart from showing him arriving at the party.
According to them, the police were unable to produce some of the suspects in court because they allegedly failed to honour police invitations.
The family further claimed that one of the victims testified that Oluwatobiloba appeared to be trying to assist those affected rather than participating in the crime.
They disclosed that shortly after the incident, their son came across a social media video that allegedly linked him to the attack.
Concerned by the allegations, he reportedly contacted the police voluntarily and offered to present himself for questioning.
According to the parents, officers informed him at the time that he was not considered a suspect.
Describing their son as a calm and sociable young man with no previous criminal record, the couple appealed to the UK authorities to re-examine the case.
They also called on relevant authorities, legal institutions and human rights organisations to look into the circumstances surrounding the conviction and ensure that justice is served.
The statement read in part, “Our son, Oluwatobiloba Akinrinola, was wrongfully convicted of robbery and blackmail. We are Mr Aderinkola Akinrinola and Mrs Olayinka Akinrinola, parents of Oluwatobiloba Akinrinola, who was wrongfully convicted of robbery and blackmail by the UK government on June 19, 2026. He has been remanded in Nottingham Prison pending sentencing on July 27, 2026.
“Our son is innocent of the charges against him. The police argument against him is that he is guilty by association with the prime suspect. The only evidence presented in court against our son is a picture he took with Richile Vagnu, the prime suspect, and CCTV footage showing him entering the venue of the party where the robbery took place on November 21, 2025. Oluwatobiloba Akinrinola met Richile Vagnu in October after resuming school in September as a fresher at Leicester University. They were, at best, acquaintances.
The parents’ statement added, “While our son was present at the party where the robbery took place, he was never part of the robbery. Some of the victims also confirmed this in court. As recorded in his statement, he briefly entered the room where the robbery was taking place, questioned the prime suspect about what was happening and then left, insisting that he did not want to be part of it.
“The robbery victims said they were robbed of their jackets and footwear, and none of the items was found in our son’s possession after police searched his apartment. The police said they found evidence that money was transferred by the victims to the accounts of the other suspects, Vagnu and Ayomide Ibraheem, but no such evidence was found in our son’s bank records.
“The court insists our son is guilty but allowed other suspects to go scot-free, including Ayomide Ibraheem, whom victims identified as the person preventing them from leaving the room during the robbery. In all the CCTV footage played by the police in court, our son did not appear at the scene of the crime. He was only seen entering the party. The police also failed to produce the other suspects in court, despite allegations that they received money from the victims. The police said they did not honour invitations.
“Victims testified that our son was not involved. In fact, one of the victims said he was trying to help them. A few days after the robbery incident, our son saw a misleading video online posted by a TikTok influencer linking him to the attack. He immediately contacted the police and told them he was willing to come in for questioning because he was not involved in the robbery. The police told him not to bother because he was not a suspect.
“Our son is a calm and sociable young man who has never been linked to any criminal activity before now. Please help us. We are devastated. We simply want the world to hear our side of the story. Our son is about to suffer for a crime he did not commit. His life is about to be destroyed for something he did not do. We want the UK government to review the case and ensure that justice is done.”
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