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Standard Chartered Bank Nigeria has asserted that African economies can remain resilient and even thrive despite the potential disruptions from the United States’ new tariff policies. The bank called on African nations to turn global trade realignments into opportunities by strengthening regional value chains and reducing overexposure to external trade dependencies.
Speaking during a recent webinar themed “US Tariff War: Implications for the Nigerian Economy and Business,” Razia Khan, Chief Economist and Managing Director, Global Research at Standard Chartered, explained that the evolving US tariff regime signals broader shifts in global trade dynamics with implications for Africa’s economic positioning.
“A key challenge remains the limited trade complementarity among African countries, which contributes to persistently low intra-African trade,” Khan said. “However, with strategic reassessment of trade exposure and investment in regional value chains, African economies can turn risks into catalysts for sustainable growth.”
The session attracted over 600 participants across the public and private sectors, including trade experts, policy analysts, and industry stakeholders.
Dalu Ajene, Chief Executive Officer of Standard Chartered Bank Nigeria, emphasized that the forum was designed to empower Nigerian businesses to adapt to the evolving global economic landscape.
“The objective was to unpack the complexities of emerging trade policies, identify vulnerabilities, and explore actionable strategies for resilience and competitiveness,” Ajene noted.
A panel session explored the broader implications of U.S. tariff realignments on Nigeria’s economy, featuring contributions from Mahdi Ahmed, representative of the Director, Trade and Exchange Department at the Central Bank of Nigeria; Monish Modi, Group CFO at African Industries Group; and Dr. Muda Yusuf, former Director-General of the Lagos Chamber of Commerce and Industry.
Other discussants included Dr. Bamidele Ayemibo, Lead Consultant at 3T Impex Trade Consulting, and Simon Umegbu, Trade and Working Capital Products Manager at Standard Chartered Bank Nigeria.
Adding to the conversation, Ibiyemi Okuneye, Head of Trade & Transaction Banking, Nigeria and West Africa at Standard Chartered, stated that while the tariff environment poses challenges, it also offers growth opportunities for agile economies.
“The U.S. tariff war compels Nigerian and African firms to reassess supply chain strategies and invest in resilience. There is a clear opportunity here for local firms to reposition and benefit from emerging regional trade frameworks,” she said.
The webinar is the first in a series of Standard Chartered’s thought leadership engagements designed to provide clients and partners with forward-looking insights on global and regional economic trends.
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