Donald Trump’s presidency has stirred global reactions, and Nigeria is no exception. From potential shifts in immigration policies affecting the Nigerian diaspora to trade policies that could disrupt vital economic ties, Trump’s “America First” agenda raises important questions about Nigeria’s future.
The transition of power in the United States, with Trump sworn in as the 47th President, marked a significant shift. Nigeria, like other nations, finds itself adjusting to the implications of Trump’s confrontational style of governance and his bold policies. Former Nigerian Ambassador to the US, Joe Keshi, noted that world leaders are already strategizing on how to engage with the new administration. He stressed that with America’s global influence, most leaders must find ways to cooperate with Trump, and the next four years are expected to be turbulent.
Trump’s inauguration has already had a noticeable impact on the global economy. Reports suggest that global stock markets, the dollar, and oil prices have all been affected by his electoral victory, as they respond to his administration’s economic policies.
Trump’s “America First” economic agenda, outlined after his inauguration, focuses on combating inflation, expanding oil drilling instead of investing in green energy, taxing foreign trade, and deporting unauthorized immigrants. One of his key policies is the promotion of domestic oil production, signaling a reversal of policies set by his predecessor, Joe Biden.
He also proposed an “External Revenue Service” to collect tariffs on goods imported from other countries, including Mexico, Canada, and China. Experts predict that his stance on immigration could have a ripple effect on Nigeria’s diaspora remittances, a significant source of income for many Nigerian families.
In 2024, Nigeria saw a surge in remittances, reaching $4.22bn from January to October, nearly doubling the previous year’s figure. These remittances, mostly sent from Nigerian immigrants, could be at risk if Trump’s immigration policies are enforced.
On the diplomatic front, Trump has reiterated his commitment to advancing US national interests, with foreign policy focused on strengthening America’s security and economic prosperity. This “America First” approach may require Nigeria and other African countries to rethink their strategies in engaging with the US.
Trump’s energy policies, particularly his push for increased oil drilling, may impact Nigeria’s fiscal sustainability, as oil revenues make up a significant portion of the country’s budget. Analysts warn that an escalation in US oil production could lead to lower global oil prices, undermining Nigeria’s revenue projections for 2025.
Additionally, Trump’s trade policies, including the proposed tariffs, could disrupt global commerce, potentially affecting Nigeria’s trade relations. The introduction of the External Revenue Service might further complicate international trade and global tax systems, presenting challenges for Nigerian businesses and exporters.
Another concern is the potential for a stronger US dollar under Trump’s economic agenda, which could weaken the naira and drive up prices for imported goods, including fuel and food staples in Nigeria.
Despite these challenges, there may be some positive outcomes, such as lower interest rates worldwide, which could ease Nigeria’s foreign debt burden. However, the future of Nigeria’s trade relations with the US, particularly under the African Growth and Opportunity Act (AGOA), remains uncertain, as Trump’s administration may choose not to renew the policy.
As Nigeria braces for the impact of Trump’s presidency, foreign policy experts advise caution. Elder statesman Professor Bolaji Akinyemi has recommended that President Bola Tinubu adopt a diplomatic approach, avoiding confrontation with Trump’s administration, even when their policies clash with Nigeria’s interests
