President Bola Tinubu has assured Nigerians that the country’s economy is resilient enough to weather any global challenges arising from the policies of U.S. President Donald Trump.
Speaking during a visit by members of The Buhari Organisation, led by former Nasarawa State Governor Tanko Al-Makura, Tinubu revealed that Nigeria had already surpassed its 2024 revenue target — and did so months ahead of schedule.
“We achieved our revenue goals by August. Our non-oil revenue is performing strongly, and that gives us confidence. We’re not worried about whatever President Trump is doing across the ocean,” Tinubu said.
He emphasized that his administration has stabilized the economy and significantly reduced dependence on oil revenues, making Nigeria less vulnerable to international shocks.
President Trump’s economic measures including tariffs and oil market interventions have drawn criticism globally.
In April, he signed an executive order suspending duty-free treatment for several countries, including Nigeria, under the International Emergency Economic Powers Act.
He also introduced a 14% tariff on Nigerian imports.
In July, under pressure from Trump, the Organization of Petroleum Exporting Countries (OPEC) and its allies agreed to raise oil production by 548,000 barrels per day to bring down global oil prices.
Despite these developments, Tinubu maintained that Nigeria’s shift towards non-oil revenue streams has paid off.
According to 2023 data from the Observatory of Economic Complexity, Nigeria exported goods worth $6.29 billion to the U.S Crude oil accounted for $4.73 billion, petroleum gas for $920 million, and nitrogen-based fertilizers for $167 million.
