The Manufacturers Association of Nigeria (MAN) has expressed deep concern over the recent announcement of a 14% tariff on Nigerian products entering the United States.

According to MAN Director General, Segun Ajayi-Kadir, “The asymmetry of the trade action undermines the spirit of international cooperation and disregards the developmental needs of emerging economies.”

The tariff hike is expected to significantly undermine the competitiveness of locally manufactured goods in the U.S. market, potentially wiping out N1 to N2 trillion of Nigeria’s export revenue annually. MAN members who are exporters in agro-processing, chemicals, and pharmaceuticals, among others, rely heavily on the U.S. for market access.

“The new tariff regime makes Nigeria a less attractive proposition for investors, particularly those who view access to the U.S. market as a key strategic advantage,” Ajayi-Kadir said.

“This could lead to a decline in foreign direct investment and undermine Nigeria’s efforts to position itself as a manufacturing hub in West Africa.”

The tariff decision comes at a vulnerable moment for Nigeria, with the country facing a downward trend in global crude oil prices and projecting an ambitious N55 trillion budget.