The Bashir Adeniyi Centre for International Trade and Investment (BACITI) says that Nigerian fertilizers manufacturers and industrial goods had better consider exporting regionally under the AfCFTA .

BACITI also urges the Nigerian Export Promotion Council (NEPC) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to help exporters cope with the tariff’s cost through rebates, tax breaks, or low-interest loans to affected exporters.

BACITI , in its Economic Insight April 2025, noted that the U.S. tariff will hit Nigeria’s non-oil export sector hardest.

Said the report: ” Many African countries rely on preferential access to the U.S.market under AGOA (African Growth and Opportunity Act), which granted duty-free treatment to thousands of African exports.African manufacturers who invested with AGOA preferences in mind are now at risk.

Textiles, leather, and agro-processing exports from countries like Kenya,Ethiopia, Ghana, Lesotho, and Nigeria may now face 10–14%tariffs, rendering the uncompetitive.

This could lead to job losses in export zones and industrial park.

Nigerian agricultural and manufacturing SMEs that have carved out a market in the U.S.now face a price disadvantage.

Niche products like Nigerian cocoa butter, dried fruits, or textiles and apparels which entered the U.S. duty-free will become costlier and uncompetitive.

Fertilizer makes up 2–3% of Nigeria’s exports to the U.S. A 10-14% tariff on fertilizer could lead U.S. buyers to seek cheaper suppliers, thus Nigerian producers might lose that market or have to accept lower net prices.

While crude oil is less likely to be directly impacted by the new tariffs, the broader uncertainty stemming from the ongoing trade war is likely to exert downward pressure on global oil prices, thereby affecting Nigeria’s export revenues and fiscal stability.

Indirect macro impact via oil prices: fallin oil prices due to slow global trade and economic uncertainty.

This would further reduce Nigeria’s export earnings and government revenue. A $10 drop in oil price, for example, costs Nigeria billions in export earnings.

Fiscal and FX pressures: A decline inNigeria’s export earnings would reduce dollar inflows, placing pressure on the naira.

In times of global uncertainty or trade wars, investors often retreat from riskier markets. As a result, Nigeria could face capital outflows, further currency depreciation, and rising inflationary pressure.”

The Centre for the Promotion of Private Enterprise (CPPE) has critiqued the Raw Materials Research and Development Council [RMRDC] Bill in the National Assembly, calling for its withdrawal.

The RMRDC Bill proposed by Senator Peter Onyekachi Nwaebonyi, which aims to ensure local processing of at least 30 percent of Nigeria’s raw materials before exportation, has received overwhelming support from the Manufacturers Association of Nigeria, and other stakeholders during the public hearing organized by the Senate Committee on Science and Technology, held on Wednesday, March 5, 2025.

However, Dr Muda Yusuf, the Director/ CEO of CPPE, said: ” The RMRDC involvement in trade policy matters is an aberration.  Besides, the bill has a very weak value proposition.

The CPPE advises the RMRDC to withdraw the bill.

Dr Yusuf urged the National Assembly to encourage the RMRDC to focus on its core mandate of raw materials research to offer the most cost-effective raw materials option for manufacturers.

Dr Yusuf explained that the RMRDC Bill currently before the National Assembly has the prospect of creating significant adverse and unintended consequences for Nigerian exporters and manufacturers.

What study has been done to determine the local processing capacity for each category of primary products currently being exported?

What metrics would be used to determine raw materials that manufacturers would be allowed to import into the country?

What is the effective time frame for implementation?Is it within the mandate of the RMRDC to promote the ban on exports or imports?

The position of the CPPE is that this bill raises more questions than answers.

It is a very simplistic proposition that has not taken into account the critical challenges of manufacturing, processing,, and value addition in the Nigerian economy. “

The Minister of Solid Minerals Development, Dr. Dele Alake, has announced that in Q1 2025, the federal government collected N6,957,826,200 in mining fees across Nigeria.

Alake disclosed this via his official X page on Monday.

“I am pleased to share some exciting developments in the mining sector; in the first quarter of this year, the Federal Government collected an impressive N6,957,826,200 in mining fees and registered 118 new private mineral buying centers,” he stated.

Source: Nairametrics.