Where Nigeria Stands and What Happens to its Economy

The Nigerian government has already expressed concerns that US tariffs disrupt trade relations. More so, they reduce the competitiveness of Nigerian products in the US market, potentially harming both oil and non-oil export businesses.

This additional tariff burden could slow Nigeria’s economic growth just as it aims to leverage BRICS membership through partnerships with member countries. It hopes to boost infrastructure funding, industrial development, and economic diversification with China, India and Brazil.

Its inclusion in BRICS offers opportunities. One of such is the access to alternative financing via the New Development Bank, technology transfer, and expanded trade corridors, which are critical for job creation and reducing reliance on oil revenues.

However, Trump’s tariffs complicate these prospects by potentially limiting Nigeria’s access to the US market, increasing export costs, and exacerbating economic pressures.

This tension highlights the geopolitical challenges Nigeria faces as it balances its growing role in emerging global alliances like BRICS against traditional economic relationships with Western powers.