By John Umeh
FG Establishes Sub-Committee to Assess Impact of U.S. Tariffs and Global Commodity Fluctuations
The Federal Government has inaugurated a sub-committee under the Economic Management Team (EMT) to assess the economic implications of shifting international tariff policies and volatile global commodity prices.
Chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, the initiative follows the United States’ recent imposition of a 14% tariff on selected Nigerian exports—a move that has raised concerns across policy and trade sectors in Nigeria.
The sub-committee comprises representatives from the Federal Ministry of Finance, the Ministry of Budget and Economic Planning, the Budget Office of the Federation, and the Central Bank of Nigeria (CBN). It has been tasked with a dual mandate: to evaluate the immediate and long-term effects of the U.S. tariff regime and to assess the impact of commodity price volatility, particularly in the crude oil market.
As part of its first objective, the team will analyze how the new U.S. tariffs may dampen demand for Nigerian goods in American markets, increase operational costs for exporters, and disrupt connected industries. The committee will also evaluate potential consequences for Nigeria’s trade competitiveness on the global stage.
In its second area of focus, the sub-committee will examine fluctuations in global oil prices. Given oil’s central role in Nigeria’s export economy and federal revenue stream, the team will assess how declining prices may affect national income, inflation, energy costs, and sectors reliant on imports.
The Ministry of Finance confirmed that the sub-committee convened its inaugural session earlier this week and is expected to deliver actionable recommendations promptly. Its findings will inform future economic strategies, providing the EMT with data-driven insights for responsive policymaking.
During the latest EMT meeting, chaired by Mr. Edun, key stakeholders from economic ministries and regulatory bodies reviewed recent international developments, including the U.S. tariff measures and oil market instability. While Nigeria’s crude oil exports remain unaffected by direct tariffs, the EMT emphasized the broader ramifications of a shifting global trade environment.
The federal government views this initiative as a proactive step in reinforcing economic resilience. Amid rising global uncertainties—ranging from geopolitical tensions to growing protectionism—the EMT is reaffirming its commitment to adaptive, evidence-based economic planning.
By identifying vulnerabilities and exploring new growth strategies, the sub-committee’s work aims to help Nigeria navigate current challenges and position itself more competitively in the global economy.
