Nigeria has recorded a sharp decline in export earnings following tougher trade conditions imposed by the United States, with losses approaching ₦1 trillion over the review period, according to official trade data.
Figures from the National Bureau of Statistics show that the value of Nigerian goods shipped to the U.S. fell significantly compared with the previous year, reversing earlier gains and deepening the country’s trade imbalance with its largest single-country export destination.
The setback followed changes to U.S. trade policy that raised tariff barriers on selected imports, reducing demand for Nigerian exports, particularly in non-oil categories. While crude oil shipments were largely insulated, analysts say the higher cost of market access weighed heavily on manufactured goods, agricultural products, and other value-added exports.
Trade data indicate that the decline in exports coincided with a surge in imports from the United States, widening Nigeria’s bilateral trade deficit and intensifying pressure on foreign exchange inflows.
Economists note that weaker export receipts limit dollar supply to the domestic market, with potential knock-on effects for currency stability and external reserves.
Market participants say the development highlights Nigeria’s vulnerability to policy shifts in key export markets and underscores the risks of concentrated trade exposure.
Despite ongoing efforts to diversify exports, the U.S. remains a critical destination, making changes in trade terms particularly impactful.
The policy shift has been linked to broader protectionist measures under the administration of Donald Trump, which emphasised reciprocal tariffs and stricter trade enforcement.
Analysts say such measures have reshaped global trade flows, forcing exporting countries to reassess market strategies and competitiveness.
Industry groups have urged Nigerian authorities to accelerate export diversification, expand access to alternative markets, and strengthen domestic value chains to cushion future shocks. They also point to the need for improved trade facilitation, lower production costs, and targeted support for exporters facing higher external barriers.
While government officials have reiterated commitments to boosting non-oil exports and deepening regional trade ties, economists warn that restoring lost export revenue will take time.
In the near term, Nigeria’s trade performance is expected to remain sensitive to global policy shifts and demand conditions.
The nearly ₦1 trillion export shortfall serves as a reminder of the structural challenges facing Nigeria’s export sector and the importance of building resilience against external trade disruptions.