… Africa can turn US tariffs into opportunity – FG
Despite 14 percent tariff recently imposed on Nigeria by the United State, President Donald Trump is positioning Nigeria as a top investment destination in Africa following high-level discussions between President Bola Tinubu and senior Trump administration advisor Massad Boulos in Paris this week.
The 14 percent tariff imposed by the United States on Nigeria was mainly in protest of the latter’s import ban on 25 different product categories which had impacted US exporters.
Despite this, the federal government is confident that with the right mentality and policies put in place, Africa can turn the United States tariff on its economy into opportunity.
The closed-door meeting, according to a statement by Bayo Onanuga, Special Adviser Communication and Strategy to President Tinubu, was “highly productive” by both sides, exploring significant American private sector investments in Nigeria’s energy, infrastructure, and manufacturing sectors.
Boulos, serving as Senior Advisor for Africa to former President Donald Trump, emphasised Washington’s renewed focus on Nigeria as the continent’s largest economy and demographic powerhouse.
“The meeting focused on developing a strategic economic and security partnership between Nigeria, Africa, and the United States anchored on mutual respect, prosperity, and regional stability.
“The US State Department rep conveyed President Trump’s strong interest in deepening direct engagement with Nigeria as a cornerstone of US relations with Africa. The US wanted to work closely with President Tinubu to expand American investment in Nigeria and Africa, support energy and infrastructure development, and align trade and job creation efforts.
Both sides discussed actionable support and shared their perspectives on regional peace, particularly in the eastern Democratic Republic of Congo (DRC) and across the Sahel.
President Trump’s advisor recognised Nigeria’s regional and continental leadership and supported President Tinubu’s interventions to stabilise key African regions.
President Tinubu reiterated Nigeria’s readiness to build productive alliances with the United States, centred on transparency, opportunity, mutual respect and outcomes that strengthen Africa’s place in the global economy.
In a related development, the Minister for Solid Minerals Development, Dr. Dele Alake, has suggested that the ongoing trade tensions between the US and other countries could be a blessing in disguise for African nations.
Speaking at the 14th edition of the AIM Congress in Abu Dhabi, United Arab Emirates, Alake urged African countries to focus on intra-African trade and reduce their dependence on external forces.
“The time is now for us to organize our economic imperatives to ensure a balance of trade and strengthen intra-African trade among ourselves,” Alake said.
He emphasised the need for Africa to move away from the “pit to port” approach, where raw materials are extracted and exported without adding value locally.
Instead, Alake invited investors to set up factories in Africa, add value to the continent’s mineral resources, and create jobs.
This approach, he said, would help Africa protect its mineral wealth and boost local economies. Nigeria, for instance, is focused on value addition and job creation in its minerals sector development.
Alake’s stance has been adopted by many African countries, particularly those producing minerals, as the chair of the African Minerals Strategic Group (AMSG).
The AIM Congress, which drew thousands of government leaders, corporate executives, and experts, aimed to foster investment opportunities and economic cooperation among nations.
Discussion about this post