President Bola Tinubu has assured Nigerians that his administration remains unfazed by the sweeping trade measures introduced by U.S. President Donald Trump, including new tariffs that could affect Nigerian exports.
Tinubu gave the assurance on Tuesday while receiving members of The Buhari Organisation, led by former Nasarawa State governor, Senator Tanko Al-Makura, at the Presidential Villa in Abuja.
The president pointed to Nigeria’s improving economic fundamentals as a buffer against external pressures. He said the country had already met its 2025 revenue target by August, with non-oil revenues continuing to grow.
“If non-oil revenue is growing, then we have no fear of whatever Trump is doing on the other side,” Tinubu said.
He further highlighted recent stability in the foreign exchange market, noting that the naira had strengthened to around N1,450 to the dollar, compared to N1,900 last year.
Tinubu credited the gains to his administration’s decision to unify exchange rates shortly after taking office in May 2023.
Trump’s second term has brought sweeping changes to U.S. trade policy, including a baseline 10 percent tariff on almost all imports, with additional country-specific levies.
