Nigeria needs 40% annual growth to offset U.S. tariff impact

Nigeria must achieve an annual economic growth rate of at least 40% to cushion the potential adverse effects of the recent tariff hike by the United States, according to economist Dr. Yemi Kale.

Speaking at the 2025 Vanguard Economic Discourse in Lagos, Kale, the Group Chief Economist and Managing Director, Research and Trade Intelligence at Afreximbank, emphasized that this level of growth is crucial for Nigeria to realize its $1 trillion economic vision.

“The path to economic resilience, inclusive prosperity and reducing economic hardship is neither quick nor easy, but it is clear. We know what must be done.

“Stabilise the macro-economy, restore credibility in fiscal and monetary policy, curb inflation and rebuild investor confidence,” Kale said.

He urged the government to adopt forward-looking policies to mitigate the impact of U.S. tariffs on Nigerian exports, while stressing the importance of sustainable reforms across the real, monetary, fiscal, and external sectors.

“What Nigeria needs is quality growth that is inclusive, equitable, job-creating and resilience-building,” he added.