ABUJA, NIGERIA — June 8, 2025 | IDNN BUSINESS DESK —
Nigeria’s economic outlook faces fresh turbulence as the United States, under the second-term leadership of Donald Trump, prepares to impose a punitive 10% tariff on all BRICS-aligned countries. For Nigeria—now a BRICS partner nation—the move could spike its total import duty to 24%, a development economists warn could derail the country’s export diversification agenda and pressure its fragile economy.
The additional levy comes just months after Nigeria joined the BRICS coalition in January 2025, a move intended to deepen trade alliances beyond the West. Already hit with a 14% tariff following Trump’s April 2 “Liberation Day” decree, Nigeria is now targeted for further sanction as the former US President doubles down on what he calls “anti-American” economic coalitions.
“Any country aligning themselves with the anti-American policies of BRICS will be charged an additional 10% tariff. There will be no exceptions,” Trump declared on Truth Social, triggering concern among global markets.
BRICS Alignment Comes at a Cost
Nigeria’s entry into BRICS came as part of the bloc’s expanded “partner-country” model announced at the 2024 Kazan Summit, alongside nations like Belarus, Thailand, Uganda, and Uzbekistan. While the strategic move was seen as an effort to pivot Nigeria eastward amid growing multipolarity, the immediate economic consequences are beginning to bite.
Trump’s initial blanket 10% tariff in April hit 185 countries, with Nigeria slapped with an extra 4% under a “bad actor” designation, making a total of 14%. The threatened new 10% for BRICS nations will bring that to 24%, if implemented in full by August 1—the final deadline given to countries yet to negotiate exemptions.
So far, only the United Kingdom and Vietnam have secured waivers. Nigeria is not among those in active negotiations.
Trade War Escalates as BRICS Pushes Back
Tensions rose after BRICS leaders condemned the US tariffs at their summit in Brazil, branding them as “indiscriminate and illegal.” In response, Trump threatened more unilateral tariffs, specifically targeting any country aligning with BRICS—which includes heavyweights Brazil, Russia, India, China, and South Africa, as well as newer partners like Egypt, Iran, and Saudi Arabia.
Nigeria, despite joining BRICS to access alternative investment and trade platforms, now finds itself caught in the crosshairs of a US-led trade war with potentially dire consequences.
Trade experts argue that the added tariff could erode Nigeria’s competitiveness in US markets, stifle non-oil exports, and add pressure to a weakened naira.
“These additional tariffs will choke Nigeria’s already narrow export channels and strain the logistics cost of imports that feed domestic manufacturing,” said Ngozi Udeh, a Lagos-based trade analyst.
Tinubu Calls for Global Economic Overhaul
Reacting to the escalating trade tensions, President Bola Tinubu has called for a “complete overhaul of the global economic order,” arguing that the current structure is “neither equitable nor sustainable.”
According to sources at the Presidency, Tinubu views Nigeria’s BRICS alignment as part of a broader plan to de-dollarize trade and unlock alternative capital flows—but the US response may force Abuja to recalibrate its strategy.
Countdown to August 1
As the clock ticks toward Trump’s August 1 deadline for trade renegotiations, analysts warn that Nigeria’s continued silence could have cascading economic effects. Already, the Central Bank of Nigeria is grappling with currency volatility, inflationary pressures, and a wave of investor hesitation amid rising geopolitical risk.
If no deal is reached, Nigeria may be forced to pursue retaliatory measures or deepen its alignment with BRICS—a path that could push it further from Western markets.