Nigeria's Minister of Trade and Investment, Jumoke Oduwole, has downplayed the disruptive effects of President Donald Trump's tariff regime on bilateral relations, insisting that the United States continues to be a robust strategic partner for Nigerian businesses and investors.
Speaking in an interview with CNN on the sidelines of the World Economic Forum in Davos, Switzerland, on Tuesday, January 21, 2026, Oduwole emphasized the resilience of the Nigeria-US commercial relationship. She highlighted the launch of a Commercial Investment Partnership between the two countries in June 2025 as evidence of deepening ties.
“To be honest, we are still on the course. The US remains our strong strategic partner; we launched a commercial investment partnership in June last year. US businesses work closely with Nigerian businesses,” Oduwole stated.
The minister pointed to Nigeria's improved business environment, which has attracted both domestic and foreign investors across various sectors in recent years. She referenced positive macroeconomic indicators to support her optimistic outlook: a World Bank projection of 4.4% economic growth for Nigeria in 2026, following a 3.98% GDP expansion in the third quarter of 2025.
Oduwole acknowledged the imposition of a 15% tariff by the US on Nigeria and other African countries in August 2025 but framed it within a broader context of ongoing collaboration rather than confrontation. Her comments suggest that the tariffs part of Trump's reciprocal trade policy have not derailed strategic engagements, including ongoing consultations and efforts to expand mutual opportunities.
While the minister did not delve into specific negative impacts, such as potential losses in non-oil exports or price competitiveness challenges, she underscored Nigeria's diversification strategy. This includes leveraging the African Continental Free Trade Area (AfCFTA) to boost intra-African trade and exploring alternative markets to mitigate any external pressures.
The interview reflects Nigeria's pragmatic approach to global trade shifts under the current US administration focusing on dialogue, investor confidence, and structural reforms rather than retaliation. As Davos discussions continue amid heightened tariff tensions worldwide, Oduwole's remarks position Nigeria as committed to win-win partnerships despite evolving international dynamics.
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