Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that they will review the impact of the ongoing global tariff war.
Edun said this while speaking at the Ministry of Finance Incorporated (MOFI) Corporate Governance Forum for Government Owned Enterprises (GOEs) in Abuja.
He said, “For the economic management team of Mr. President and indeed his whole government, we are going back to the drawing board to look at the scenarios that may play out if the current tariff situation is prolonged.
“For Nigeria, in terms of exports, it’s not too bad because oil minerals are excluded by America from being in any way sanctioned with tariffs. But based on our non-oil exports and based on the formula that the Americans are using, we do have a 14% tariff on our exports. But it’s a lot better than Vietnam, which has 46%.
“So we need to look at these situations and see what the opportunities are. The Nigeria of today, with a relatively stable economy and an attractive investment environment, including attractive exchange rate, is a place where if they can’t produce in Vietnam, they can come and produce in Nigeria.
“We are here, we are ready, we are waiting, and we have what will be attractive to them in terms of policies, in terms of market, and in terms of export capacity.
