FG has arrange a vital committee to review Trump’s Tariffs affect on Nigeria economic system.
PoliticalNews Nigeria reviews that the Federal Authorities has arrange a sub-committee to review the impacts of President Donald Trump‘s tariffs on the nation’s economic system.
Recall that President Trump imposed a 14 p.c tariff on items from Nigeria into the US.
In response, the {Economic} Administration Staff (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economic system, Wale Edun, convened a gathering with participation from key ministries and companies to evaluate the fiscal and {economic} implications of current trade-related developments.
In accordance with an announcement on Friday from the Ministry’s spokesman, Mohammed Manga, of explicit focus was the current bulletins of tariff measures by the US Authorities and their potential affect on Nigeria’s economic system.
“Whereas crude oil, Nigeria’s main export, has not been straight focused, the EMT famous the accompanying fall within the worldwide oil worth.
“To assist evidence-based policymaking, the EMT established a sub-committee tasked with conducting an in depth evaluate of the direct and oblique {economic} impacts of each the rising tariff measures and the worldwide commodity worth shifts,” it learn.
The sub-committee included representatives from the Federal Ministry of Finance, the Ministry of Finances and {Economic} Planning (together with the Finances Workplace of the Federation), and the Central {Bank} of Nigeria (CBN).
The sub-committee additionally held its inaugural assembly this week and can guarantee it presents its findings to the complete EMT at once.