The Federal Government has formed a subcommittee to evaluate the economic risks posed by the recent US tariff measures, with a focus on how they may indirectly affect Nigeria’s fiscal health and oil revenue. The move follows an urgent meeting by the Economic Management Team (EMT), chaired by Finance Minister Wale Edun, to assess fallout from the US trade actions.
Although crude oil hasn’t been directly targeted, the EMT noted the tariffs have coincided with a drop in global oil prices—Nigeria’s main revenue source. The subcommittee, composed of officials from the Finance Ministry, Budget Office, and Central Bank, will review both the US tariff impact and global commodity trends and report to the EMT.
JP Morgan has warned that Nigeria faces heightened risks of investment outflows and naira depreciation if oil prices stay below the fiscal breakeven point of $60 per barrel. The subcommittee’s findings are expected to inform new economic strategies amid growing global uncertainty.
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