Nigeria’s fragile economy may face fresh hardship as Trump threatens 10% tariff on BRICS allies, on Sunday, former US President Donald Trump issued a warning to nations siding with BRICS. He vowed to impose an extra 10 per cent tariff on them.
Trump wrote on his Truth Social platform, “Any Country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy.”
BRICS stands for Brazil, Russia, India, China, and South Africa. These nations created the group to promote economic ties among emerging markets.
Six new members joined BRICS in 2024. They include Egypt, Ethiopia, the United Arab Emirates, Iran, Saudi Arabia, and Indonesia.
Nigeria Joins BRICS As Trump Threatens 10% Tariff on BRICS Allies
Nigeria officially became the ninth member of BRICS in January 2025. This came after the 16th BRICS Summit in October 2024.
President Bola Tinubu is currently attending the 17th BRICS Summit in Brazil.Now, Trump threatens 10% tariff on BRICS allies, which includes Nigeria.This move may lead to fresh economic troubles for Nigeria. The country is already struggling with inflation, weak currency, and high debt.
Nigeria has been trying to grow its economy through policies such as fuel subsidy removal and exchange rate reforms. The Central Bank of Nigeria has kept its interest rate steady for two straight meetings, including the one in May 2025.
Still, challenges remain. Nigeria depends heavily on crude oil exports. Its economy remains vulnerable to oil price swings and global demand changes.
Oil Exports At Risk As Trump Threatens 10% Tariff on BRICS Allies
The biggest fear now is Nigeria’s oil trade with the US. Over 90 per cent of Nigeria’s exports to the US are crude oil and petroleum products. If Trump threatens 10% tariff on BRICS allies and follows through, Nigeria could lose badly.
Apart from oil, Nigeria exports smaller goods like fertiliser, agricultural products, and some manufactured items to the US. The US remains one of Nigeria’s largest trade partners. But Nigeria is still a minor part of America’s total trade.
Trade experts warn that tariffs on non-oil exports could harm Nigeria’s efforts to diversify its economy. So, as Trump threatens 10% tariff on BRICS allies, Nigeria faces tough choices. It must decide between its new BRICS role and its long-time trade ties with the US.
The warning by Trump has placed Nigeria in a difficult position. The country is already battling serious economic troubles. Now, it faces the risk of losing trade deals with the US.
Nigeria must now weigh its options carefully. But one thing is clear—Trump threatens 10% tariff on BRICS allies, and this could reshape Nigeria’s economic future.
