Kingsley Moghalu, former Deputy Governor of Nigeria’s Central Bank, has offered insight into how Donald Trump’s presidency might affect Nigeria and other African countries. According to Moghalu, Trump’s policy direction, focused on “America First,” could limit African nations’ access to trade benefits and aid programs previously granted under more Africa-oriented policies. This may present challenges for economic growth in African countries relying on such partnerships.
During Trump’s presidency, the U.S. administration introduced changes to foreign aid and immigration policies, which had implications for African nations. Moghalu suggests that under Trump, less emphasis would be placed on Africa’s development goals, potentially leading to reduced diplomatic support and a shift in funding priorities. African leaders might, therefore, need to strengthen partnerships within the continent and with other global powers like China and the EU to secure their economic future.
Moghalu also highlighted that Nigeria, as one of Africa’s largest economies, might feel the impact of altered trade and investment dynamics with the U.S. He encouraged African leaders to diversify their economic strategies, noting that dependence on any single foreign power could hinder growth. By building self-reliance and fostering intra-African cooperation, Moghalu believes African countries can mitigate potential challenges from Trump’s policy direction.
