Abdulwahab Isa 
The Federal Government’s Economic Management Team (EMT) may consider the option of going back to the drawing board if the United States’ 14 per cent import tariff on Nigerian goods is prolonged, as Minister of Finance and Coordinating Minister of the Economy Wale Edun hinted on Monday.
The occasion was the inaugural Corporate Governance Forum organized by the Ministry of Finance Incorporated (MOFI), which had Chief Executive Officers of Government-Owned Enterprises (GOEs) in attendance.
While ruling out the option of tinkering with the 2025 budget, Edun said that members of the EMT may take a second look at the budget assumptions for 2025 in order to make an informed decision.
The Nigerian government had already imposed a 27% tariff on US exports to Nigeria, the minister revealed.
He added that the government would monitor the situation to explore potential opportunities, noting that the economy remains stable in today’s Nigeria.
“Regarding Donald Trump’s 14% tariff on Nigerian exports to the US, Nigeria has already imposed a 27% tariff on US exports to Nigeria. However, oil and mineral-related exports are exempted from this new tariff by Trump,” Edun said.
He restated that the US tariff hike would have a lesser impact on Nigeria’s oil sector than on the non-oil sector.
Details later…
