President Bola Tinubu on Tuesday said his administration will not be intimidated by the trade policy direction of United States President Donald Trump, insisting that Nigeria’s growing non-oil revenue will serve as a buffer against external shocks.
Naija News reports that Tinubu made this known when he received a delegation from The Buhari Organisation, led by former Nasarawa State Governor, Senator Tanko Al-Makura, who paid him a solidarity visit at the Presidential Villa in Abuja.
The President maintained that the sweeping tariffs announced by the Trump administration would not derail Nigeria’s economic progress.
He said, “If non-oil revenue is growing, then we have no fear of whatever Trump is doing on the other side.”
Tinubu pointed to Nigeria’s improved fiscal outlook, noting that the country had already met its 2025 revenue target by August.
According to him, reforms in the foreign exchange market have also stabilised the naira, which has appreciated from ₦1,900 to about ₦1,450 to the dollar since his government unified the exchange rates in May 2023.
Trump, now in his second term, has imposed a 10 per cent baseline tariff on nearly all imports into the U.S., with additional country-specific levies ranging from 11 to 50 per cent.
Under the new regime, Nigerian exports have been hit with a 15 per cent tariff, up from 14 per cent announced in April. The measure took effect on August 7.
Energy products such as oil and gas, however, remain exempted. Despite this, global reports suggest that tariff-driven trade tensions have disrupted demand for crude oil, diesel, and gasoline since early 2025.
Tinubu also highlighted his administration’s agricultural reform agenda, stressing the importance of mechanisation in boosting local food production.
“If we remove hunger, we have defeated poverty,” the President declared, adding that food security was central to Nigeria’s economic recovery plan.
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