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What Donald Trump’s second Presidency means for Nigerian economy – Report

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What Donald Trump’s second Presidency means for Nigerian economy – Report

Donald Trump’s return to the White House as the 47th President of the United States, following a dramatic victory over Kamala Harris, brings new questions for Nigeria’s economic outlook.

Trump’s economic policies, built around “America First,” prioritize domestic energy production, tariffs on imports, and pushing for low interest rates.

These policies could have a significant impact on Nigeria’s economy, particularly in the areas of exchange rates, capital flows, inflation, and immigration. Below is an analysis of how these shifts could affect Nigeria’s economic landscape.

Key takeaways 

Donald Trump’s second term could have sweeping implications for Nigeria’s economy.

  • A stronger dollar, potential capital outflows from the U.S., and low global oil prices may add to Nigeria’s exchange rate volatility, putting pressure on the naira and increasing inflation.
  • Immigration restrictions could reduce remittance flows, while geopolitical shifts might reduce U.S. support for Nigeria’s security and development needs.
  • Nigeria’s policymakers may need to consider alternative strategies, such as fostering regional trade, increasing non-oil exports, and pursuing structural reforms to counterbalance the potential challenges posed by Trump’s policies.”

Exchange Rate pressures from a Stronger Dollar

Trump’s policies could lead to a stronger U.S. dollar, particularly if his administration imposes tariffs that increase demand for domestically produced goods and services.

  • A stronger dollar generally makes it more expensive for emerging economies, such as Nigeria, to acquire foreign exchange, potentially straining the Central Bank of Nigeria (CBN)’s efforts to stabilize the naira.
  • Nigeria’s naira has depreciated by over 45% this year, and an appreciation of the dollar could further weaken the naira, impacting import costs, inflation, and purchasing power.
  • A stronger dollar also increases Nigeria’s debt-servicing costs, as many of Nigeria’s obligations are dollar-denominated.
  • Given Nigeria’s reliance on imports for fuel, raw materials, and consumer goods, additional dollar strength could heighten inflationary pressures on already high costs of living.

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Interest rates and Capital Flows into Nigeria 

Historically, Trump has favoured a low-interest-rate environment, pushing the Federal Reserve to maintain a loose monetary policy even during periods of economic growth.

  • During Trump’s initial presidency, the Federal Reserve raised interest rates, peaking at 2.5% in 2018 before cutting them near zero by March 2020 to counteract the economic effects of COVID-19.
  • Trump’s renewed pressure for lower interest rates could again influence the Federal Reserve’s policy direction.
  • If the Federal Reserve keeps rates low, this could, in theory, result in capital outflows from the U.S. as investors seek higher returns in emerging markets.
  • However, if dollar strength persists and other global markets remain volatile, investor sentiment may still favour U.S. assets as a safe haven.

From 2016 to 2020, Nigeria attracted approximately $58.1 billion in capital importation, with 2019 seeing the highest inflows at $23 billion.

  • This was in part due to Nigeria offering high-yielding instruments like government bonds, which attracted foreign investors—including $4.69 billion from U.S. sources in that year.
  • Should Trump’s policies create a continued low-yield environment in the U.S., Nigeria could once again attract U.S.-based capital looking for higher returns, particularly if Nigeria maintains attractive interest rates on its debt instruments.
  • This capital inflow could help alleviate Nigeria’s foreign exchange pressures and support naira stability.

Inflation and Trump’s energy policies 

Trump’s focus on reducing U.S. energy costs by increasing domestic oil production and drilling on federal lands could mean sustained low global oil prices. In his first term,

  • Trump’s policies and the COVID-19 pandemic led to WTI crude oil prices falling sharply to around $39.17 per barrel in 2020, compared to $65.20 per barrel in 2018.
  • As Nigeria heavily relies on oil exports for government revenue and foreign exchange, prolonged low oil prices could impact budget stability and government spending, with knock-on effects on inflation and economic growth.
  • Furthermore, Trump’s proposed tariffs on imports, including a 60% tariff on Chinese goods, could raise inflation within the U.S., which might trickle down to Nigeria by increasing the cost of imported goods and components.
  • Since the U.S. is among Nigeria’s top trading partners (N2.2 trillion in imports and N2.8 trillion in exports in the first half of 2024), a U.S.-led price increase could influence Nigeria’s inflation through costlier imports of essential goods like machinery, pharmaceuticals, and agricultural products.

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Immigration and Nigerian diaspora impact 

Trump’s return to office raises concerns for Nigerians regarding U.S. immigration policy. His administration previously imposed travel restrictions on Nigeria, citing national security risks, which disrupted the movement of students, professionals, and family members.

  • If Trump reinstates such policies, it could dampen the ability of Nigerians to pursue educational and work opportunities in the U.S.
  • This restriction would not only impact Nigerian nationals but could also reduce remittance flows, which are a major source of foreign exchange for Nigeria.
  • In recent years, remittances from the Nigerian diaspora have contributed over $20 billion annually to Nigeria’s economy, helping to offset FX shortages.
  • A decrease in remittance inflows would reduce domestic consumption and place additional pressure on Nigeria’s foreign reserves, which are already under strain.

Geopolitical dynamics and U.S. aid to Nigeria 

Under Trump’s “America First” foreign policy, military aid and development assistance to African nations were deprioritized in favour of reducing overseas commitments.

  • For Nigeria, which partners with the U.S. in counter-terrorism and security, this could imply reduced military support.
  • Nigeria has relied on U.S. assistance to combat Boko Haram and other insurgent groups, so any reduction in support could undermine Nigeria’s regional security efforts.
  • A decline in aid could also impact Nigeria’s developmental projects and social programs funded by U.S. agencies.
  • With high poverty rates and a significant need for investment in health, education, and infrastructure, a reduction in aid would necessitate increased spending by the Nigerian government, potentially redirecting funds away from other critical areas.

Trade Policies and Nigerian Exports to the U.S. 

Trump’s “Buy American” policy has often focused on reducing imports and increasing tariffs, which could impact Nigeria’s trade relationship with the U.S.

  • In the first half of 2024, Nigeria recorded a trade surplus with the U.S., with imports at N1.9 trillion and exports at N3.1 trillion.
  •  If Trump’s tariff policies discourage U.S. imports from Nigeria, this could negatively affect Nigeria’s export earnings, particularly for sectors like oil, minerals, and agricultural products.
  • A decrease in exports to the U.S. might impact Nigeria’s current account balance, further complicating its exchange rate and foreign reserve challenges.

What Donald Trump’s second Presidency means for Nigerian economy – Report

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Ogun Police Gun Down 2 Suspected Kidnappers

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Ogun Police Gun Down 2 Suspected Kidnappers

Ogun Police Gun Down 2 Suspected Kidnappers

Abeokuta, Ogun State – In a pre-dawn operation that has dismantled a major criminal network, police operatives in Ogun State have killed two suspected kidnappers and arrested a prominent Fulani community leader, Seriki Mohammed Abdullahi, over alleged ties to a kidnapping syndicate terrorizing the Ijebu-Ode/Ibadan road corridor.

The Ogun State Police Command, through its spokesperson Oluseyi Babaseyi, confirmed that the operation also led to the arrest of Mohammed Bello, a suspected gang member, alongside the recovery of N1.5 million believed to be ransom proceeds, an AK-47 rifle loaded with 10 rounds of ammunition, a single-barrel gun, several mobile phones, and a black bag allegedly used for ransom transactions.

According to police sources, the operation stemmed from the kidnapping of three persons on May 11, 2026, in the Ipojo area of Iperin, Atan-Ijebu. The victims were released unharmed three days later after an unspecified ransom was paid.

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Acting on intelligence gathered after the victims’ release, operatives from the Anti-Kidnapping Unit led by SP Bamidele Shittu stormed a suspected kidnappers’ camp along the Ijebu-Ode/Ibadan Road axis at about 5:00 a.m. on May 15, 2026. On sighting the police operatives, the suspects opened fire, leading to a fierce gun duel. The operatives responded professionally, resulting in the neutralisation of two of the suspected kidnappers, while other gang members escaped into the forest with bullet injuries.

In a dramatic follow-up operation, police arrested Seriki Mohammed Abdullahi, the Seriki Fulani of Ijebu Ode, who is also the father of one of the fleeing suspects. Sources told journalists that the investigation initially targeted Bala, Abdullahi’s son, who had reportedly just been released from prison after serving a five-year sentence for kidnapping. Police sources further revealed that the black bag used for ransom delivery was allegedly recovered inside the kitchen of the Seriki’s residence, linking the community leader directly to the criminal network.

Among the items recovered from the gang are N1.5 million suspected to be ransom cash, one AK-47 rifle loaded with 10 rounds of live ammunition, one single-barrel gun, several mobile phones, and one black bag used for ransom transactions.

The Ogun State Commissioner of Police, Bode Ojajuni, praised the operatives for their gallantry, professionalism and resilience, reaffirming the command’s resolve to combat kidnappingarmed robbery, and other violent crimes across the state. The bodies of the two slain suspects have been deposited in a mortuary for autopsy, while efforts are ongoing to track down and arrest other fleeing gang members, including Bala. Investigations are continuing to uncover the full network of the syndicate, and the police have assured that all those arrested will face prosecution.

Ogun Police Gun Down 2 Suspected Kidnappers

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Retired Major General Rabe Abubakar, Wife Abducted by Gunmen in Katsina

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Retired Major General Rabe Abubakar, Wife Abducted by Gunmen in Katsina

Retired Major General Rabe Abubakar, Wife Abducted by Gunmen in Katsina

Retired Major General Rabe Abubakar, a former Director of Defence Information, and his wife have reportedly been abducted by suspected armed bandits in Katsina State, in a fresh incident highlighting the worsening insecurity across Nigeria’s North-West region.

Sources familiar with the development said the retired senior military officer and his wife were kidnapped on Saturday while travelling to Katsina when heavily armed attackers intercepted their vehicle along the Matazu Local Government Area axis of the state.

The incident reportedly occurred along a stretch of road notorious for repeated attacks by armed criminal groups operating in parts of Katsina and neighbouring Zamfara State.

According to security sources, the attackers ambushed the couple’s vehicle and forcefully whisked them away to an unknown destination.

A source close to the matter disclosed that the retired general’s driver narrowly escaped the attack despite sustaining a gunshot wound during the incident.

“Maj. Gen. R. Abubakar, former Director of Defence Information, was kidnapped together with his wife on his way to Katsina today. He was kidnapped along Matazu Local Government Area of Katsina State. His driver escaped with a gunshot injury,” the source said.

The source added that the retired officer’s vehicle, a red Peugeot 504, was later recovered and taken to the Nigeria Police Force divisional headquarters in Matazu.

“The senior officer’s Peugeot 504, red in colour, is parked at the Matazu Division of the Nigeria Police Force,” the source stated.

A separate alert reportedly circulated among military and security circles, allegedly forwarded by retired Brigadier General Sagir Musa, calling for urgent intervention by relevant security agencies.

The message appealed for immediate action to secure the safe rescue of the former military spokesperson and his wife.

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As of the time of filing this report, the Katsina State Police Command had yet to issue an official statement confirming the abduction, while military authorities had also not publicly commented on the development.

However, security sources said search-and-rescue efforts had been initiated, with intelligence operatives and local security formations mobilised to track the abductors.

Major General Abubakar is a well-known retired military officer who served as Director of Defence Information, the arm of the Nigerian military responsible for strategic communications and media relations.

His reported abduction has triggered concern within military and security circles due to his status as a former top defence official.

The attack adds to a long list of kidnappings and violent assaults linked to armed bandit groups operating across Katsina, Zamfara, Sokoto, and parts of Kaduna State.

Matazu Local Government Area has witnessed recurring security breaches despite intensified military operations and surveillance in the region.

Katsina State, the home state of former President Muhammadu Buhari, has remained one of the worst-hit states by armed banditry, with criminal gangs frequently targeting communities, highways and high-profile individuals for ransom.

Over the years, both federal and state authorities have introduced military offensives, dialogue initiatives and local peace agreements aimed at ending the violence.

Several of these peace efforts, however, have collapsed amid repeated attacks and allegations that some criminal groups exploit negotiations to regroup and rearm.

Security analysts say the reported abduction of a retired major general further underscores the boldness of armed groups and raises serious questions about the effectiveness of current counter-banditry strategies in the region.

Residents and stakeholders are now awaiting official confirmation and further updates on efforts to secure the release of the retired officer and his wife.

Retired Major General Rabe Abubakar, Wife Abducted by Gunmen in Katsina

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Driver Dies as SUV Somersaults Multiple Times on Oshodi-Apapa Expressway

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Driver Dies as SUV Somersaults Multiple Times on Oshodi-Apapa Expressway
LASTMA General Manager, Mr Olalekan Bakare-Oki

Driver Dies as SUV Somersaults Multiple Times on Oshodi-Apapa Expressway

LAGOS, NIGERIA – A driver has died after a Sports Utility Vehicle (SUV) lost control and overturned several times along the Oshodi-Apapa Expressway in Lagos State, marking the second major road fatality in the commercial capital within a 10-day period . The fatal accident occurred in the early hours of Saturday at Charity Bus Stop, inward Iyana Isolo , according to a statement issued by the spokesperson of the Lagos State Traffic Management Authority (LASTMA) , Adebayo Taofiq . The agency said preliminary findings showed that the Honda Pilot SUV suddenly veered out of control before overturning multiple times and coming to a devastating stop . The sheer magnitude of the impact led to the immediate death of the driver, whose body became trapped inside the mangled wreckage of the vehicle .

“Preliminary findings indicate that the Honda Pilot Sports Utility Vehicle (SUV) involved in the incident suddenly lost control, causing it to overturn multiple times before coming to a devastating halt. The sheer magnitude of the impact led to the instantaneous death of the driver, whose body became trapped within the severely mangled remains of the vehicle,” the statement read . LASTMA officials, who were carrying out traffic monitoring and management duties in the Iyana Isolo area at the time of the incident, responded swiftly to the emergency . The officers, working alongside personnel of the Mosafejo Police Division , successfully extricated the deceased from the wreckage while managing traffic flow and preventing secondary accidents along the busy corridor . Following the recovery operation, officials of the State Environmental Health Monitoring Unit (SEHMU) evacuated the remains to a public mortuary in line with established public health procedures . The wrecked Honda Pilot SUV was subsequently handed over to officers of the Mosafejo Police Division, who have commenced investigations to determine the immediate and remote causes of the accident.

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Reacting to the incident, the General Manager of LASTMA, Olalekan Bakare-Oki , expressed sadness over the loss of life and extended condolences to the deceased’s family . He urged motorists across Lagos State to exercise caution while driving, obey speed limits, and adhere strictly to traffic regulations, particularly during late-night and early-morning journeys when visibility, alertness, and reaction times may be reduced . Bakare-Oki also warned against reckless driving, dangerous overtaking, excessive speeding, and other traffic violations that could lead to avoidable tragedies on the roads. “Motorists are strongly urged to eschew reckless driving, dangerous overtaking, excessive speeding and every form of traffic infraction capable of precipitating avoidable tragedies on our roads. The sanctity and preservation of human life must remain paramount in the conduct of every road user. No journey is so urgent as to justify compromising safety,” he stated .

This tragic incident occurred just 10 days after a dispatch rider was killed by a trailer at the Ilupeju Bypass . It was gathered that the tragic crash happened after the dispatch rider reportedly engaged in a struggle for right of way with a commercial minibus, popularly known as “Korope” . In the process, he lost control of the motorcycle and collided with a moving articulated trailer along the busy Ilupeju corridor . The impact of the collision caused severe injuries, leading to the rider’s instant death at the scene . LASTMA officials successfully recovered the remains of the deceased rider trapped beneath the trailer while implementing measures to ease the heavy traffic congestion caused by the accident . Bakare-Oki had earlier warned about the rising rate of crashes involving dispatch riders, noting that over 862 crash victims involving dispatch riders were rescued through emergency interventions in 2025 alone . He identified several accident-prone routes including Eko Bridge, Lekki-Epe Expressway, Otedola Bridge, Ikorodu Road, Oshodi-Apapa Expressway , and railway crossings around Ikeja, attributing the crashes to reckless overtaking, driving against traffic, fatigue, poor motorcycle maintenance, and phone use while riding.

Driver Dies as SUV Somersaults Multiple Times on Oshodi-Apapa Expressway

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