The Federal Government of Nigeria has constituted a subcommittee to assess the economic impact of the recent U.S. tariff measures, raising the possibility of an annual budget reset to address new fiscal realities.
The move was confirmed in a statement released on Friday, April 11, by Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, following a meeting of the Economic Management Team (EMT) chaired by Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The decision comes in response to U.S. President Donald Trump’s imposition of a 14% tariff on Nigerian exports, reportedly in retaliation for Nigeria’s 27% tariff on U.S. goods. The development, as reported by The ICIR, has sparked concern over its potential to disrupt trade flows, reduce export revenues, and impact Nigeria’s 2025 fiscal projections.
Officials say the newly formed subcommittee will analyze trade data, project economic scenarios, and advise on possible budget adjustments to cushion the effects of the escalating trade tension.
This development underscores the growing global impact of Trump’s aggressive tariff policy and signals Nigeria’s intent to respond strategically, ensuring fiscal stability and protecting key economic sectors.