Standard Chartered Bank Nigeria has affirmed that Africa remains well-positioned for economic growth, even in the face of newly imposed U.S. tariffs. The bank emphasized the importance of strengthening regional trade and reassessing global trade dependencies to unlock long-term potential.
Speaking at a recent webinar titled *”US Tariff War: Implications for the Nigerian Economy and Business,”* Razia Khan, Chief Economist and Managing Director of Global Research at Standard Chartered, noted that the new U.S. tariff regime signals deeper global trade realignments.
“One of the key issues is the lack of complementarity between African economies, which limits intra-African trade. However, with strategic adjustments, these challenges can become growth opportunities,” Khan said.
The virtual session attracted over 600 participants, including top executives from both public and private sectors, industry experts, and policymakers.
Dalu Ajene, CEO of Standard Chartered Bank Nigeria, highlighted the bank’s aim to help businesses navigate an increasingly complex global trade environment.
“Our objective was to provide businesses in Nigeria with insights into global trade shifts, assess the risks, and share strategies for resilience and growth,” he explained.
A panel discussion featured prominent figures such as Mahdi Ahmed from the Central Bank of Nigeria; Monish Modi, CFO of African Industries Group; Dr. Muda Yusuf, former DG of the Lagos Chamber of Commerce and Industry; Dr. Bamidele Ayemibo of 3T Impex Trade Consulting; and Simon Umegbu of Standard Chartered.
Ibiyemi Okuneye, the bank’s Head of Trade & Transaction Banking for Nigeria and West Africa, underscored that the situation is not without its advantages.
“The U.S. tariff conflict presents African businesses with a chance to reimagine supply chains and build resilience,” she said.
This webinar is the first in a planned series of Standard Chartered’s thought leadership engagements designed to equip businesses with practical tools and insights amid global economic changes.
Standard Chartered reaffirmed its commitment to supporting African businesses through trade finance, digital innovation, and strategic partnerships.
