Nigeria’s Economic Maanagment Team (EMT) has set up a sub-committee tasked with conducting a detailed review of the direct and indirect economic impacts of both the emerging tariff measures and the global commodity price shifts.
The setting of the sub-committee came as the United States investment bank, J.P. Morgan urged investors to exit long positions in Nigerian Open Market Operation (OMO) bills, and cautioned that global risks—driven by falling oil prices and renewed trade tensions—could deepen Nigeria’s macroeconomic vulnerabilities.
In a research note dated April 9, 2025, titled: “Frontier Local Markets Strategy: Reducing Risk Further,” the bank had advised clients to close their positions in Nigerian T-bills as Brent crude oil approaches sub-$60 levels.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun had on Monday, indicated that the EMT would meet to review the impact of the ongoing global trade war triggered by the United States of America on the Nigerian economy.
Owing to this, a statement issued by the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga, disclosed that the EMT had already met ànd set up a sub-committee to conduct a detailed review of the direct and indirect economic impacts of both the emerging tariff measures and the global commodity price shifts.
Although the statement did not divulge the names of members of the sub-committee, it disclosed that it was composed of representatives from the Federal Ministry of Finance, the Ministry of Budget and Economic Planning (including the Budget Office of the Federation), and the Central Bank of Nigeria of Nigeria.
The sub-committee, it added, had already held its inaugural meeting and would present its findings to the full EMT without delay.