On July 24, 2026, the United States government announced a 12.5% import tariff targeting select products from Nigeria and dozens of other nations under a restructured Section 301 framework of the US Trade Act. Despite the new duties, economic analysts confirm that the immediate macroeconomic threat to Nigeria remains contained.
Crucially, crude oil, liquefied natural gas (LNG), and primary petroleum exports are completely exempt from the new duty structure.
Because crude oil and gas constitute over 80% of total domestic trade with North America, Nigeria's principal source of foreign exchange from the region remains insulated.
Trade structure shields primary revenue from tariff
According to Nigeria’s merchandise trade records for the first quarter of 2026, sales to the United States reached 5.56% of the total ₦21.6 trillion ($15.8 billion) export volume.
