Daily Trust· 1h ago· 1 min read
The Centre for the Promotion of Private Enterprise (CPPE) has said the newly introduced 12.5 per cent tariff by the United States on imports from Nigeria is unlikely to have any significant impact on the country's economy, arguing that the bulk of Nigeria's exports to the US remain exempt from the measure.
In a policy brief issued on Saturday, the Chief Executive Officer of CPPE, Dr Muda Yusuf, said although the tariff had generated concern, its direct implications for Nigeria's export earnings and macroeconomic performance should not be exaggerated.
“The economic impact of the tariffs is unlikely to be significant,” Yusuf said.
He urged Nigeria to respond by accelerating export diversification, improving manufacturing competitiveness and increasing domestic value addition, while taking advantage of opportunities under the African Continental Free Trade Area (AfCFTA).
Yusuf also…
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