Nigeria’s trade partnership with the US remains robust, according to the Minister of Trade and Investment, Jumoke Oduwole. Despite President Trump’s imposition of global tariffs, the two countries have maintained a strong business relationship. In an interview with CNN on the sidelines of the World Economic Forum in Davos, Switzerland, Oduwole emphasized that the US has continued to be a vital partner for Nigeria, citing the launch of a commercial investment pact in June 2025.
The minister noted that US businesses have been working closely with their Nigerian counterparts, underscoring the strength of the partnership. This collaboration has been instrumental in attracting both domestic and foreign investors to various sectors of the Nigerian economy, which has seen improvements in the business environment. A World Bank report has projected that Nigeria’s economy is expected to grow to 4.4 percent in 2026, following a 3.98 percent growth in gross domestic product in the third quarter of 2025.
In August, President Trump introduced a 15 percent tariff on Nigeria and other African countries, sparking concerns about the impact on trade relations. However, Oduwole’s statement suggests that the partnership between the two countries remains unaffected. The minister’s assurance is significant, given the importance of the US as a trade partner for Nigeria.
The ongoing collaboration between US and Nigerian businesses is a positive development, particularly in the context of Nigeria’s efforts to diversify its economy and attract foreign investment. With the World Economic Forum providing a platform for global leaders to discuss economic issues, Oduwole’s statement highlights the resilience of the Nigeria-US trade partnership. As Nigeria continues to navigate the complexities of global trade, its relationship with the US is likely to remain a key factor in the country’s economic growth and development.
