President Bola Ahmed Tinubu has assured Nigerians that the country’s economy is resilient enough to face the new trade policies and tariffs introduced by U.S. President Donald Trump. He emphasized that Nigeria’s reduced dependence on oil and stronger economic foundations make it better equipped to handle external shocks.
Tinubu made these remarks during a meeting at the Presidential Villa in Abuja with members of The Buhari Organisation, led by former Nasarawa State Governor, Senator Tanko Almakura, who visited to show support for his administration.
The President highlighted that Nigeria has already reached its revenue targets for 2025 ahead of schedule, demonstrating solid financial performance. He also pointed out that the naira has strengthened, moving from roughly N1,900 to N1,450 per dollar since the unification of exchange rates in 2023. With growing non-oil revenue, Tinubu said there is little concern over the potential effects of Trump’s tariffs.
Trump’s administration, now in its second term, has implemented broad trade measures under the “America First” initiative, including a 10% baseline tariff on most imports and additional levies ranging from 11% to 50% for certain countries. Nigeria’s exports, apart from oil and gas, currently face a 15% tariff. Although oil is exempt, global energy markets have been unstable due to lower demand and trade tensions.
Tinubu also spoke about his efforts to boost agriculture through mechanization programs across the country. He stressed that improving food production is critical for reducing hunger and poverty, highlighting food security as a central focus of his administration’s recovery plan.
Reflecting on his long political partnership with the late Muhammadu Buhari, Tinubu shared insights into the founding of the All Progressives Congress (APC) in 2013. He recalled debates over the party’s symbol, with Buhari favoring a parliament emblem while Tinubu advocated for the broom, which was eventually adopted to represent unity and anti-corruption. Tinubu acknowledged that their differences strengthened their collaboration, helping the APC secure victory over the People’s Democratic Party in the 2015 elections.
The meeting was attended by notable northern political leaders, including Katsina State Governor Dikko Radda and former Governor Aminu Masari, signaling efforts to consolidate the APC ahead of the 2027 elections. Tinubu concluded by reaffirming his government’s commitment to economic stability, agricultural development, and preparing the nation to navigate future challenges.
