•••But warns it could harm manufacturing
By Yinka Kolawole
The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has said that the threat by the United States President Donald Trump to impose an additional 10 percent trade tariff on countries aligning with BRICS countries offers an opportunity for Nigeria to boost its intra-African trade by prioritising the African Continental Free Trade Area (AfCFTA), but warned that it could harm the manufacturing and agricultural sectors.
Executive Secretary of MANEG, Dr. Benedict Obhiosa, stated this while commenting on the development in a chat with Vanguard.
Recall that Trump threatened, last week, to impose additional tariffs on countries aligning with the BRICs nations which comprise Brazil, Russia, India, China, and South Africa, citing “Anti-American policies of BRICS”.
Nigeria is one of the countries concerned, having been formally admitted as the ninth BRICS partner country in January 2025, a status introduced at the 16th BRICS Summit in October 2024.
Data from the National Bureau of Statistics (NBS) shows that Nigeria’s trade with BRICS nations stood at N5.41 trillion in the first quarter of 2025 (Q1’25), compared to N1.54 trillion in exports to the United States.
Commenting on the development in a chat with Vanguard, Executive Secretary, According to Obhiosa, Nigeria can seize the opportunity to explore new export markets and trade partnerships, while emphasizing value addition to raw materials.
“These challenges can also serve as opportunities for Nigeria to reassess and strengthen its economic strategies and policies.
“Nigeria can boost intra-African trade by prioritizing the African Continental Free Trade Area (AfCFTA), exploring new export markets and trade partnerships, and emphasizing value addition to raw materials, which benefits the economy by creating jobs.
“Through the implementation of these strong strategies, Nigeria can build a resilient, self-sufficient economy that improves its global position and can turn the challenges of tariffs into opportunities for economic growth and sustainability,” he stated.
Obhiosa, however, noted that the move could disrupt trade relations and harm key sectors of the economy, such as agriculture and manufacturing.
His words: “If the threatened tariffs imposed by President Donald Trump on countries aligned with BRICS, Nigeria in particular, are implemented, it could disrupt trade relations and harm key sectors of the economy, such as agriculture and manufacturing.
“The tariffs may strain the relationship with the US, potentially disrupting the import of essential goods like pharmaceuticals and agricultural products. Increased tariffs could create uncertainty in the business environment, prompting foreign investors to reconsider their investments in Nigeria.
“Additionally, higher costs for importing necessary technology for production might lead to increased economic strain.”
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