WATCH THE VIDEO HERE THE Federal Government (FG) has established a sub-committee to analyze the potential economic implications of the recent trade tariffs introduced by the United States. In a statement released yesterday, Mohammed Manga, Director of Information and Public Relations at the Ministry, disclosed that the move followed a meeting of the Economic Management Team (EMT), led by Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Although Nigeria’s primary export, crude oil, is not directly affected by the new US tariffs, the measures coincide with a decline in global oil prices — a situation that has sparked concerns over possible strain on the nation’s revenue and fiscal stability. On April 2, US President Donald Trump announced extensive tariffs on all imports, including those from Nigeria. Shortly after, Minister Edun assured that Nigeria is adequately positioned to weather global trade disruptions, including those stemming from the US tariff policy. Manga further explained that earlier in the week, the EMT convened a meeting involving key ministries and agencies to evaluate the likely impact of these new policies on Nigeria’s economy and public finances. “To enable evidence-based decisions, the EMT has formed a sub-committee to carry out an in-depth assessment of the direct and indirect economic effects of the new tariffs and global shifts in commodity prices,” Manga stated. The sub-committee comprises representatives from the Ministry of Finance, the Ministry of Budget and Economic Planning (including the Budget Office of the Federation), and the Central Bank of Nigeria (CBN). According to Manga, the sub-committee has already begun its work and is expected to present its findings to the EMT in the near future.
FG sets up panel to assess effects of new US tariffs
