The federal government (FG) has inaugurated a specialised panel to analyse how the recent trade tariff measures introduced by the United States might affect Nigeria’s economic outlook.
According to a statement released yesterday, Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, said the initiative followed deliberations by the Economic Management Team (EMT).
The committee is chaired by the Finance Minister and Coordinating Minister of the Economy, Wale Edun.
Although Nigeria’s primary export, crude oil, is not directly impacted by the new US trade actions, the development coincides with a dip in global oil prices—raising alarm over potential strain on government revenue and the national budget.
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On April 2, US President Donald Trump unveiled wide-ranging import tariffs on goods entering the United States, a move that also applies to Nigerian exports.
Reacting shortly after, Edun expressed confidence in Nigeria’s capacity to weather external trade challenges, including those posed by the new US measures.
Manga noted that the EMT convened earlier this week alongside key stakeholders from relevant ministries and agencies to deliberate on the broader implications of the shifting trade dynamics.
“To support evidence-based policymaking, the EMT has established a sub-committee tasked with conducting a detailed review of the direct and indirect economic impacts of both the emerging tariff measures and the global commodity price shifts,” Manga said.
The newly formed sub-committee draws members from the Ministry of Finance, Ministry of Budget and Economic Planning—including the Budget Office of the Federation—as well as the Central Bank of Nigeria (CBN).
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Manga confirmed that the panel had already held its inaugural session and is expected to submit its findings to the EMT in the coming days.
