The Federal Government has intensified efforts to reposition Nigeria’s economy amid mounting trade challenges, including a tariff threat from the United States.

This followed a meeting of the Economic Management Team chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, at his office in Abuja on Tuesday, May 20, 2025.

According to a statement by the ministry’s Director of Information and Public Relations, Mohammed Manga, on Thursday, the meeting reviewed Nigeria’s trade strategy, investment climate, and infrastructure planning, highlighting the government’s commitment to making the country more competitive and attractive to investors through coordinated policy reforms and diplomatic engagement.

The statement reads, “The Federal Government has taken a significant step towards repositioning Nigeria’s economy, as the Economic Management Team convened to assess Nigeria’s trade strategy, investment climate, and infrastructure planning.”

At the meeting, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, presented the ministry’s current priorities.

These included improving investor retention, accelerating export diversification, and addressing regulatory inefficiencies that hinder private sector growth.

The session also focused on Nigeria’s engagement with the United States following the recent proposal by the U.S. Trade Representative to impose a 14 per cent tariff on Nigerian exports.

“Of particular focus was Nigeria’s ongoing engagement with the United States following the recent proposal by the U.S. Trade Representative to impose a 14 per cent tariff on Nigerian exports.

“The EMT reviewed the legal and commercial context surrounding this development, as well as Nigeria’s diplomatic outreach to Washington and multilateral discussions held during the U.S.-Africa CEO Forum in Abidjan,” the statement noted.

The Minister of Transportation, Senator Said Alkali, also presented his ministry’s updated budget framework and infrastructure priorities, emphasising logistics upgrades and projects aimed at reducing bottlenecks and enhancing Nigeria’s trade facilitation capacity.

In his closing remarks, Edun emphasised the importance of cross-ministerial coordination.

He said, “Now is the time for unified action. By aligning our trade posture with global best practice and ensuring policy consistency, we can unlock greater opportunities for businesses and deepen investor confidence in Nigeria.”

The EMT reaffirmed its collective resolve to implement transparent, market-led reforms that support private sector expansion, boost non-oil exports, and deliver sustainable growth across the Nigerian economy.