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Trump’s Tariffs Could Boost Nigeria’s Investment Appeal – Finance Minister
Nigeria’s Finance Minister, Wale Edun, has disclosed that the country is actively assessing ways to capitalize on the recent global trade disruptions triggered by sweeping import tariffs announced by U.S. President Donald Trump.....KINDLY READ THE FULL STORY HERE▶
Speaking at the Ministry of Finance Incorporated (MOFI) Corporate Governance Forum for Government-Owned Enterprises (GOEs) in Abuja, Edun said Nigeria’s Economic Management Team is evaluating potential economic benefits stemming from the U.S. tariff policy.
Trump’s April 2 announcement imposed tariffs on all imports, including those from Nigeria, sparking international economic unease.
Addressing journalists after the event, Edun noted that while Nigeria’s oil exports remain unaffected, non-oil exports now face a 14% tariff — a rate he compared favorably to Vietnam’s 46%. He suggested this could prompt foreign producers to relocate to Nigeria.
“The current administration is re-evaluating its economic strategy in light of these developments. Given our stable economy, competitive exchange rate, and policy incentives, Nigeria could emerge as an attractive destination for companies seeking alternatives,” Edun stated.
He emphasized Nigeria’s readiness to attract production displaced from other countries affected by the tariffs, describing it as a timely opportunity.
Meanwhile, the MOFI event also marked the launch of a performance Scorecard system for GOEs, aimed at improving accountability and governance. Dr. Armstrong Takang, Managing Director of MOFI, said the initiative positions GOEs as critical to Nigeria’s economic future.
He added that MOFI is now taking a proactive role in safeguarding public assets and driving policy reforms to make state enterprises globally competitive.
The goal, according to Takang, is to transform Nigeria’s GOEs into engines of innovation and growth that can attract robust private sector investment.
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