Former President Organised Private Sector (OPS), Dele Oye has warned that new US visa restrictions are already damaging Nigeria’s economy and weakening its access to the American market.

In an interview with ARISE News on Wednesday  he analysed the implications of the new three-month single-entry visa policy recently introduced by the US under the administration of Donald Trump.

“First of all, the changes have taken place,” he said. “What is involved is non-immigrant visas, and it specifically states that you only have three months for a single re-entry.”

According to him, the policy will hurt Nigeria’s economy in multiple ways from reduced business travel to shrinking talent exchange and may lead to a decline in foreign direct investment.

“It is inimical to Nigeria’s business with the United States,” he said. “It has reduced economic activity, restricted business travel, and led to lost opportunities for Nigerian exporters.”

He warned that the visa restrictions would also affect Nigerian students and professionals seeking opportunities abroad.

“For students, it has a major impact. F-1 visa holders used to enjoy multi-year stays. Now, if you leave after November, you’ll need a new visa to return even if your I-20 is valid.”

The analyst pointed out that the affected visa categories B1, B2, F, and J cut across both educational and business travel, making it harder for entrepreneurs and students to engage with the US.

Beyond visas, he noted that Nigeria’s trade with the US is already declining. According to him, bilateral trade dropped from $2.6 billion in Q1 2024 to $2.2 billion in Q1 2025, a 20% dip that includes lower oil exports.

“Even our oil exports have dropped. We exported over 20 million barrels last year during the same period. This year, it’s just over 17 million barrels,” he said.

Asked how Nigeria should respond, he urged the government and private sector to aggressively diversify and enter new trade agreements with other global blocs like China and the EU.

“We need to diversify. We must reduce our dependence on the US and open up new channels for trade,” he said. “The government must recalibrate NIPC and start exploring new investment destinations.”

On the question of negotiating with Donald Trump, he was blunt.

“Trump is a taco-tango person. He does the tango, chickens out, and changes his mind. He is mercurial like mercury,” he said. “It’s not about reciprocity or e-visa. They’re using security benchmarks and overstaying as their excuse.”

He further argued that while the US remains a key player in global finance, its global trade share is declining in comparison to China.

“America is overplaying its significance. In terms of global trade, China is ahead. But the US still dominates in financial systems because of the dollar,” he explained.

Despite the frustrations, he said Nigeria must continue to engage with the US while simultaneously building stronger ties with other regions.

“We shouldn’t walk away, a $2.2 billion trade figure in one quarter is too significant to ignore,” he said. “But we must grow our trade with Africa and the East. Look at Uganda they lost US trade but gained $5 billion through intra-Africa trade.”

He concluded with a call for strategic diplomacy and urgency.

“There are alternatives, but we must not stop engaging. This is a wake-up call for Nigeria to find its strength and its testosterone.”

Erizia Rubyjeana

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