US imposes 12.5% tariff on Nigerian imports over forced labor claims
via Punch Nigeria3 min read
The United States has imposed a 12.5% tariff on imports from Nigeria, among 60 economies, as part of a new trade measure targeting countries that have not prohibited the importation of goods produced with forced labor. This measure was announced by the Office of the United States Trade Representative USTR on Thursday. Countries like India, Indonesia, Malaysia, Mexico, and the United Kingdom will face a 10% tariff after adopting or committing to implement bans on imports linked to forced labor. The USTR launched investigations in May 2026 into 60 of the largest US trading partners under Section 301 of the Trade Act, receiving over 1,600 written submissions and holding public hearings. The USTR stated that the 12.5% rate applies to all other investigated economies that have not implemented or committed to implementing forced labor import prohibitions. A Federal Register notice confirmed the 12.5% tariff on Nigerian products, with specific exemptions. US Trade Representative Jamieson Greer indicated the action aims to encourage trading partners to strengthen measures against forced labor, noting that the US has had a forced labor import ban for nearly a century. Tariffs will not apply to certain products, including raw materials, goods causing economy-wide disruptions, products unavailable in sufficient quantities in the US or from alternative sources, and selected goods from countries that have adopted or pledged to implement forced labor import bans.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Lagos emergency responders successfully contained two separate fire incidents on Thursday, preventing major disasters and recording no casualties. In Ikotun, a gas-laden tanker caught fire after striking a road bump, causing the driver to lose control and a tire to burst. The Lagos State Emergency Management Agency LASEMA, Lagos State Fire and Rescue Service, Lagos State Traffic Management Authority, Federal Road Safety Corps, and Nigeria Police collaborated to extinguish the blaze and manage traffic. LASEMA Permanent Secretary Olufemi Oke-Osanyintolu urged motorists to obey speed limits. Separately, the Lagos State Fire and Rescue Service confirmed a fire at the electronics section of a Justrite Superstore in Egbeda-Akowonjo. Controller General Margaret Adeseye reported that firefighters quickly contained the fire, which preliminary findings suggest originated from an alternative power source, specifically the building's solar inverter system. Both incidents were brought under control with no loss of life or injuries.
The Abia State Police Command has confirmed the mysterious death of five members of the same family in Umuimo, Osisioma Ngwa Local Government Area. The victims, identified as Mr Kachi Nnabugwu, his wife, Chinaza, and their three children, were found dead inside their residence on Tuesday. The incident was reported to the Osisioma Divisional Police Headquarters on July 22, 2026, by the deceased's brother after he was unable to reach them. Upon forcing entry into the house, the lifeless and decomposing bodies were discovered. Police Public Relations Officer, DSP Maureen Chinaka, stated that detectives visited the scene, conducted a preliminary visual inspection, and took photographs. The bodies have been deposited at the morgue for preservation and autopsy, with investigations ongoing. Residents reported the family was last seen on Saturday, July 18, and neighbors forced entry after repeated failed attempts to contact them. Containers of leftover food and a generator were reportedly found in the building. The circumstances surrounding the deaths remain unclear.
Credit extended to Nigeria's private sector reached N83.3tn in June 2026, marking a 2.8 percent increase from N81tn in May. This data comes from the Central Bank of Nigeria's latest Money and Credit Statistics. Conversely, credit to the government saw a 0.99 percent decline, falling to N40tn in June from N40.4tn in May. Consequently, net domestic credit grew by 1.5 percent to N123.3tn in June, up from N121.42tn the previous month. This rise in private sector lending indicates that banks are continuing to provide credit to businesses and households, even with the Central Bank of Nigeria's high-interest rate policy. Analysts suggest that sustained credit growth could foster business expansion, investment, and overall economic activity. However, there is also a concern that if credit growth outpaces the economy's productive capacity, it could lead to increased inflationary pressures. The figures highlight a persistent demand for financing despite the Central Bank of Nigeria's tight monetary policy, which aims to control inflation and stabilize prices.