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Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

Implications
As of January 2026, the trade relationship between the United States and Nigeria has shifted toward a more transactional model under the "America First" doctrine. The primary focus has moved from developmental aid to specific trade barriers and national security-linked economic policies.
Latest US Tariffs Update (2026)
In a significant shift, the US administration has increased trade barriers on Nigerian goods as part of a broader global tariff strategy.
Tariff Hikes: General tariffs on Nigerian exports to the US rose to 14% in 2025/2026, with certain sectors facing potential escalations up to 25% depending on ongoing trade negotiations.
AGOA Status: The African Growth and Opportunity Act (AGOA), which previously allowed duty-free access for many Nigerian products, is currently under intense review. There are concerns it may be replaced by reciprocal bilateral deals.
Reciprocity: In August 2025, a specific 15% tariff was applied to several African nations, including Nigeria, to address trade imbalances.
Major Companies & Sectors Impacted
The impact is felt most heavily by companies involved in energy and non-oil exports:
Energy Giants: Companies like Chevron and ExxonMobil are navigating a landscape where "Drill, Baby, Drill" US domestic policies have lowered global oil prices (below $60/barrel in late 2025), impacting Nigeria's export value.
Agricultural Exporters: Firms exporting sesame seeds, cocoa, nuts, and cashew face higher entry costs into the US market.
Industrial/Chemicals: Major producers of urea and nitrogenous fertilizers (such as Indorama) are seeing increased costs for their US-bound shipments.
Consumer Goods: Companies like Mastercard have noted that while global trade pressures remain, domestic reforms in Nigeria are helping to buffer some of the impact by boosting local consumer spending.
GDP & Balance of Trade (BOT) Impact
GDP Projections
Despite trade headwinds, Nigeria's economy is showing resilience due to internal fiscal reforms.
Projected Growth: Most institutions (IMF, World Bank) project a GDP growth of 3.9% to 4.4% for 2026.
Inflation: Expected to moderate to a range of 14% – 18%, down from the highs of 2024.
Latest Country BOT (YTD 2026)
Nigeria has maintained a trade surplus, largely driven by a surge in non-oil exports and high-value raw materials.
| Metric | Status (Early 2026 / Late 2025) |
| Trade Balance | Surplus of approximately ₦6.69 Trillion (Q3 2025 data). |
| Non-Oil Growth | Nearly doubled, now accounting for ~30% of total exports. |
| Primary Partner | China remains the top import partner (30% share). |
| US Trade Volume | Totaled ~$13 Billion in 2024, but faces downward pressure in 2026 due to tariffs. |
SWOT Analysis: Nigeria Economy 2026
Strengths | Weaknesses |
* Resilient domestic consumer market. * Strong growth in non-oil sectors (Agriculture, Solid Minerals). * Successful fiscal and FX reforms improving stability. | * High dependency on oil for foreign exchange. * Infrastructural deficits (power and logistics). * High B-1/B-2 visa overstay rates affecting diplomatic leverage. |
Opportunities | Threats |
* AfCFTA: Boosting intra-African trade to reduce US dependency. * New Alliances: Recent 2026 tariff waiver deal with the UAE. * Digital Economy: Rapid adoption of tech-driven enterprises. | * US Protectionism: Potential 25% tariffs and loss of AGOA benefits. * Global Oil Volatility: Increased US production lowering global prices. * Security Sanctions: "Country of Particular Concern" designation. |
US Revised Tariffs
Country Tariffs
Balance of Trade
Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals
Tariff Rate for US
World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.
US Imports Guide
United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.
Investing in USA
theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters
Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration
theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

Economic
Relevance
Ranking
State | Info | Overall Rank | Agri | Innov | Mfg | Employ | Tax | Edu | GDP | F500 Rep | Trade Balance | Cost of Living | Disp Income |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Texas | 1 | 4 | 5 | 11 | 10 | 7 | 42 | 2 | 2 | 2 | 24 | 13 | |
North Carolina | 2 | 9 | 21 | 1 | 4 | 12 | 28 | 11 | 16 | 41 | 17 | 17 | |
Virginia | 3 | 32 | 24 | 6 | 2 | 28 | 7 | 13 | 6 | 34 | 35 | 3 | |
Florida | 4 | 21 | 11 | 15 | 1 | 4 | 35 | 4 | 7 | 40 | 30 | 37 | |
Washington | 5 | 16 | 3 | 36 | 28 | 45 | 9 | 9 | 15 | 9 | 43 | 1 | |
Missouri | 6 | 11 | 25 | 22 | 20 | 13 | 32 | 21 | 22 | 20 | 10 | 20 | |
Georgia | 7 | 15 | 26 | 9 | 3 | 26 | 34 | 8 | 9 | 43 | 26 | 19 | |
Minnesota | 8 | 6 | 10 | 47 | 6 | 44 | 8 | 20 | 10 | 33 | 33 | 9 | |
Ohio | 9 | 12 | 32 | 7 | 30 | 35 | 36 | 7 | 5 | 38 | 15 | 11 | |
Illinois | 10 | 5 | 23 | 31 | 23 | 37 | 16 | 5 | 4 | 47 | 32 | 7 |