How are we going to survive when we rely solely on their market for almost everything? They are our largest oil buyer, accounting for more than 70% of our total exports. As long as we rely on oil as a country, we cannot do without the US market.
Crude oil and refined products from crude oil are still very important in this world. If United States do not buy from us, other countries will buy. When many European countries did not buy from Russia, it becomes an opportunity for countries like India to buy from Russia. If they like, they should stop importing oil from us. Oil is hot cake in this world.
How are we going to survive when we rely solely on their market for almost everything? They are our largest oil buyer, accounting for more than 70% of our total exports. As long as we rely on oil as a country, we cannot do without the US market.
This is not true.
Nigeria’s crude oil export landscape witnessed notable changes in the first quarter of 2025, with India emerging as the country’s largest buyer of petroleum products, according to trade data released by the National Bureau of Statistics (NBS).
We export to other countries like Spain, Netherlands and France...
In 2024 that United States imported more, it is far not at all up to 70% also.
Do not forget that Dangote also started importing crude oil from the United States.
Is any third-world country currently surviving without the US market? Even China, the world's largest economy, was affected when Donald Trump slapped them with tariff hikes on imports/exports from the United States.
People are also complaining of inflation and stagflation in United States during this Trump administration.
Even as individuals shopping from China( BRICKS) way too expensive ( shipping cost) than shopping from the United States.
BRICSAll I know is that Nigeria government are good in the politics and international relations. We are not in the world that United States will be dictating for us. Nigeria is not a problem when it comes to dedollarization. They should know that. Dedollarization can not even happen or be significant for now and in long term.