Economy
President Trump Slams 14% Tariff On Imports From Nigeria In A Global Blitz
President Trump Slams 14% Tariff On Imports From Nigeria In A Global Blitz
President Trump slams 14% tariff on imports from Nigeria in a global blitz. On Wednesday evening, United States President Donald Trump announced sweeping global tariffs on all imports into the country, slamming 14 percent on Nigeria.
According to 2023 data published by Observatory of Economic Complexity (OEC), Nigeria exported $6.29 billion to US.
The main exports were crude petroleum ($4.73 billion), petroleum gas ($920 million), and nitrogenous fertilisers ($167 million).
Over the past five years, according to OEC, Nigeria’s exports to the US have increased at an annualised rate of 1.59 percent, from $5.81 billion in 2018 to $6.29 billion in 2023.
Stocks had closed higher before Trump’s announcement but later buckled under the weight of the new order, disrupting business decisions and raising fears of a global trade war.
Trump said he was optimistic the numbers would improve, maintaining that the decision was critical for America’s restoration as the world’s sole superpower. After delivering his speech, Trump signed the decision as an executive order.
The executive order imposes a “baseline” 10 percent tariff on all imports as well as individualised reciprocal tariff rates on over 60 countries.
President Trump
He told foreign leaders “who will soon be calling to ask for exemptions from these tariffs” to drop theirs first.
Parts of the order had different implementation timelines, with some beginning as early as in a few hours. “Effective at midnight, we will impose a 25-percent tariff on all foreign-made automobiles,” Trump noted.
The “baseline” 10 percent tariff would start on April 5, while higher rates on various partners would begin on April 9.
According to the US government, Nigeria charges 27 percent tariffs to the US. The report included currency manipulation and trade barriers as contributors to the amount. In retaliation, Trump imposed a 14 percent retaliatory tariff on Nigeria.
Countries like China and Mexico already grappling with previously imposed tariffs were hit with additional rates.
Sole Administrator: New 2025 Budget In The Works To Tackle Key Development Areas In Rivers
Sole Administrator: New 2025 budget in the works to tackle key development areas in Rivers. The Sole Administrator of Rivers State, Vice Admiral Ibok Ete Ibas (retd.), has revealed that a fresh 2025 appropriation bill is being prepared to address pressing developmental needs.
Speaking during a meeting with the Rivers National Assembly caucus on Thursday at the Government House in Port Harcourt, Ibas said the proposed budget will prioritize improvements in healthcare, education, agriculture, and infrastructure.
Sole Administrator Ibas
He also noted that the budget will emphasize job creation and the integration of technology across essential public sectors. The delegation was led by Senator Barinada Mpigi, representing Rivers South-East.
Governor Alia Launches Probe Into Destruction Of LG Secretariat, Traditional Palace In Benue
Governor Alia launches probe into destruction of LG secretariat, traditional palace in Benue. Benue State Governor Hyacinth Alia has set up a committee to investigate the destruction of the Gwer West Local Government Secretariat, the Ter-Tyoshin palace, and several private properties in Naka town.
During a visit to the affected areas on Thursday, Alia condemned the violence—allegedly triggered by protests over repeated herdsmen attacks—and urged residents to support government efforts to restore peace.
He warned that anyone found colluding with external attackers would face the full weight of the law.
Ter-Tyoshin, Chief Daniel Abomtse, described the attack on his palace as a calculated sabotage, questioning the authenticity of the protest. He praised the governor’s visit and called for the perpetrators to be brought to justice.
Governor Alia Launches Probe
Meanwhile, local government staff Christiana Gbagbul and Civil Protection Guard Commander Nyiuma Nicholas accused the military of complicity and called for their redeployment, urging that the police take over internal security in the area.
Government Amends 2025 Budget By N14bn For Key Projects In Adamawa
Government amends 2025 budget by N14bn for Key projects in Adamawa. Adamawa State has revised its 2025 budget, adding N14 billion to fund new priority projects, including an international conference centre, upgrades to a key agricultural college, and rural infrastructure.
The State Executive Council approved the amendment to reallocate funds from less urgent areas, ensuring immediate execution of the projects, according to Commissioners Iliya James and Emmanuel Piridimso.
Adamawa
The original N486 billion budget, signed in December, remains unchanged in total size, with the adjustment focused on internal realignment.
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