US EditionNigeria: Trump's Tariffs, Global Oil Volatility Harming Nigeria's Economy
- NMDPRA CEO Farouk Ahmed addressed the press in Abuja on Tuesday about global oil market volatility.
- President Trump's tariff policies, particularly those targeting China, are creating uncertainty in global oil markets.
- These tariffs, coupled with domestic issues like pipeline vandalism, negatively impact Nigeria's revenue and foreign exchange.
- Ahmed stated, "The global oil market today is reacting sharply to the erratic tariffing policies of the American government."
- Unpredictable U.S. Policies lead traders to short-term strategies, negatively impacting Nigeria's long-term economic planning.
21 Articles
21 Articles
The surprising upside of Global Tariff Wars for the “Made in Nigeria” Brand
As U.S. and Chinese levies make traditional suppliers more expensive or less reliable, Nigerian producers are seizing new export contracts, offering competitive pricing, and reinforcing supply-chain resilience. Supported by stable currency management, duty‑free channels under trade agreements, and growing digital sales platforms, local firms are upgrading their standards and gaining global visibility. Below are concrete ways in which these tarif…
Oil Prices Are Recovering, But Can Exporters Outlast the Tariff Circus?
Oil prices have been on the mend this week after taking a dive following President Trump’s global tariff offensive launch. Yet they still have a long way to go to return to where they were just four months ago—and many oil-exporting countries can’t wait for this to happen. The question is, will it? For now, the situation does not look good for oil producers. The rebound in prices this week came as a result of indications that Trump was willing t…
Nigeria to stockpile petroleum products to counter global shocks
Nigeria plans to establish a national strategic petroleum products stockpile this year to safeguard its economy against disruptions in the international market, the petroleum products regulator said at a press briefing on Tuesday.
Oil slump, Trump tariffs put Nigeria’s economy at risk
The CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, says the ongoing instability in global oil markets is negatively impacting Nigeria’s economy. He said while falling petroleum product prices may benefit consumers, the broader economic consequences are severe for Nigeria, which heavily relies on oil exports. “As consumers, we are happy
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