Trump hits Nigeria, 66 others with 15% tariff as VP says now is most opportuned time to invest in Nigeria

Nigeria has been named among 67 countries targeted in a sweeping new tariff programme unveiled by United States President Donald Trump, in a move set to reshape international trade relations. Industry stakeholders fear the new US import duties could hinder these efforts and strain bilateral trade ties. The “reciprocal-tariff” initiative imposes varying import duties on countries depending on existing trade conditions and perceived imbalances. According to official figures released on the White House website, Nigeria will face a 15 per cent tariff on exports to U. S. “This is about fairness. For decades, other countries have been taking advantage of America’s markets. Those days are over,” President Trump declared while announcing the measures.
Meanwhile Vice President Kasim Shetimma has called on local and international business men and women to invest in Nigeria now, saying this is the most opportuned time to do so. Shetimma, who spoke on Tuesday in Ota, Ogun State at the opening of the inaugural Ota Investment and Trade Fair, hinged his advice on the positive impact the reforms of the Bola Tinubu administration is having on the economic outlook of the country. Shetimma was represented on the occasion by Dr Tope Fasua, a Special Adviser in the Office of the Vice President. Shetimma, while commending the organisers of the event, described Ota as a crucible of industry, and a veritable engine of the nation’s economic progress.
“These reforms, though demanding immense resilience from our citizens, have begun to yield tangible and significant dividends. They have instilled a new level of confidence in the market, attracted capital inflows, and set our economy on a trajectory of predictable, sustainable growth. President Tinubu’s unflinching commitment to fiscal discipline, a business-friendly environment, and the removal of bureaucratic red tape is an affirmation of his belief that the private sector, led by visionary entrepreneurs and investors, is the primary driver of prosperity and job creation.
“The industrial revolution we envision is one built on diversification, technology, and inclusion. Ota, with its strategic location and a robust concentration of manufacturing assets, is perfectly positioned to be at the vanguard of this revolution. The ambition of the Renewed Hope Administration is to build a $1 trillion economy, an objective that is both audacious and eminently achievable. The rebased GDP provides a new, higher starting point, and President Tinubu’s reforms have given us the momentum. The private sector, therefore, is not just a partner in this journey; it is the principal architect of this future. I challenge you, the captains of industry and the innovative investors gathered here today, to seize this moment with both hands. This is a moment to invest boldly, to innovate relentlessly, and to collaborate strategically.”