Standard Chartered Bank Nigeria Limited has noted that Africa can thrive despite the challenges of the United States of America’s new tariff order. The bank urged African countries to seize opportunities for economic growth by strengthening regional value chains and reassessing their global trade exposure.
According to a statement, Chief Economist and Managing Director, Global Research at Standard Chartered, Razia Khan, noted during the bank’s webinar on ‘US Tariff War: Implications for the Nigerian Economy and Business’ that the new US tariffs signal broader global realignments that could reshape African economies.
Khan said, “One of the major challenges remains the lack of complementarity among African states, which continues to drive low intra-African trade volumes.
However, by reassessing trade exposure and strengthening regional value chains, African countries can transform these emerging risks into opportunities for long-term growth.”
The virtual event drew over 600 participants, including private and public sector executives, trade experts, and industry leaders.
Chief Executive Officer of Standard Chartered Bank Nigeria Limited, Dalu Ajene, said the session was aimed at helping businesses navigate evolving macroeconomic conditions.
Ajene explained, “The goal of the webinar was to provide a comprehensive understanding of the current trade dynamics, identify potential risks, and discuss strategies that can help businesses in Nigeria adapt and thrive amidst these changes.”
A panel session featuring policy and business leaders further examined the implications of U.S. tariff policies for Nigeria.
Panellists included a representative of the Director, Trade & Exchange Department at the Central Bank of Nigeria, Mahdi Ahmed; Group Chief Financial Officer, African Industries Group, Monish Modi; and a former Director-General, Lagos Chamber of Commerce and Industry, Dr Muda Yusuf.
Others included Lead Consultant, 3T Impex Trade Consulting Limited, Dr Bamidele Ayemibo; and Trade and Working Capital Products Manager, Standard Chartered Bank Nigeria, Simon Umegbu.
Meanwhile, Standard Chartered Bank’s Head, Trade & Transaction Banking Nigeria and West Africa, Ibiyemi Okuneye, stressed that the tariff conflict also presents growth avenues.
Okuneye stressed that “the U.S. tariff war is not just a challenge; it presents opportunities for Nigeria and Africa, highlighting the need for firms to rethink their supply chain strategies to ensure resilience and continued business growth,” she said.
The webinar is the first in a planned series of Standard Chartered’s thought leadership engagements focused on equipping clients with tools and insights to respond to global and regional economic shifts.
Standard Chartered Bank reiterated its role in supporting trade finance and enabling African businesses to unlock value through expert insights, digital solutions, and strategic partnerships.
