The United States imported $643.1m worth of goods from Nigeria in the first two months of 2025, just a month before the implementation of new tariffs by the Trump administration, The PUNCH reports.
The tariffs, which take effect on April 9, 2025, have raised concerns about their potential impact on Nigeria’s trade. However, oil and minerals are exempted from the new tariff regime, offering some relief to Nigeria’s major export sectors.
Data from the United States International Trade Commission revealed that Nigeria’s imports on a customs basis for February 2025 stood at $286.3m, a sharp decline from the $423.6m recorded in the same month of 2024.
This marked a reduction of 32.4 per cent. On a year-to-date basis, customs-based imports fell from $951.6m in 2024 to $643.1m in 2025, representing a decrease of 32.4 per cent.
On a Cost, Insurance, and Freight basis, Nigeria’s imports for February 2025 stood at $298.4m, compared to $436.3m in February 2024, marking a decline of 31.6 per cent.
On a year-to-date basis, CIF-based imports fell from $979.6m in 2024 to $666.3m in 2025, indicating a decrease of 32 per cent.
