Nigeria, U.S. Strengthen Trade Ties Despite Tariff Shift
Nigeria and the United States have reaffirmed their commitment to deepening economic cooperation, even as Nigeria adjusts its tariff rate on U.S. goods from 14% to 15%.
At a high-level meeting in Abuja, Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, met with outgoing U.S. Ambassador Richard M. Mills Jr. and incoming Consul General Rick Swart.
The talks centred on shared commercial goals, growing investment opportunities, and strengthening existing trade frameworks.
Dr Oduwole assured that despite the tariff revision, Nigeria remains a strong destination for American investment, citing the significant inflow of duty-free machinery and services from the U.S.
She also noted progress under the commercial investment partnership launched in June, with momentum building towards a major ministerial meeting scheduled for November.
The Minister highlighted President Bola Tinubu’s economic reform agenda, which includes boosting food sovereignty, digital trade, and national competitiveness.
According to her, recent policy shifts have begun to stabilise Nigeria’s economy.
Ambassador Mills reaffirmed Washington’s interest in furthering trade with Africa’s largest market, while his successor, Rick Swart, pledged to promote free and fair trade that benefits both nations.
The meeting ended on a note of optimism, with both sides looking to the future with renewed energy and shared purpose.
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