US Cuts Nigerian Crude Imports By Nearly 50%

The United States sharply cut its purchases of Nigerian crude oil in January 2026, with imports plunging by 47.16 per cent month-on-month.

Official figures from the US Census Bureau and Bureau of Economic Analysis show US refiners took just 1.664 million barrels from Nigeria last month. This is down from 3.149 million barrels in December 2025, a loss of 1.485 million barrels in a single month.

The value of those imports fell even steeper. Customs value dropped from $217.36 million to $115.99 million, while the cost-insurance-freight figure slid from $223.10 million to $118.95 million.

Nigeria’s share of total US crude imports shrank to 0.88 per cent in January from 1.59 per cent the previous month. Overall American crude imports also dipped 5.1 per cent to 188.21 million barrels.

Within Africa, Nigeria lost ground. Total African crude supplies to the US stayed flat at 6.933 million barrels, but Angola’s volumes jumped from 575,000 to 2.062 million barrels. Ghana entered the market with 738,000 barrels after recording none in December. Libya’s exports halved to 1.086 million barrels.

The decline came even as Nigeria ramped up output. The Nigerian National Petroleum Company Limited said crude and condensate production rose to 1.64 million barrels per day in January, up 5.8 per cent from December. Yet NNPC revenue fell 47 per cent to N2.57 trillion, though the company still posted N385 billion profit after tax.

Crude still dominates Nigeria’s exports to America. It made up 63 to 65 per cent of the $183 million total US imports from Nigeria last month. Overall US imports from the country fell from $297 million in December.

Trade data also showed the US widening its goods surplus with Nigeria to $419 million in January from $84 million. American exports to Nigeria surged to $602 million while Nigerian shipments shrank. Across Africa, Washington flipped from a $174 million surplus to a $503 million deficit.

The contraction unfolded against US President Donald Trump’s tariff policies. An executive order last July raised Nigeria’s tariff rate to 15 per cent under a “reciprocal” regime, though crude oil has largely been exempted. Non-oil exports bore the heavier impact.

Economist Dr Muda Yusuf, Chief Executive of the Centre for the Promotion of Private Enterprise, played down the immediate threat. “Our trade with the US is not that strategic. When anything goes wrong, it is not as if it can have any fundamental effect on our economy,” he told NaijaChoice News.

Yusuf noted that Nigerian exports to America remain narrow — mostly crude and a few items like fertiliser. He said the bigger long-term hurdle is America’s visa policy, which limits business travel and investment inflows more than tariffs do.

For Nigeria, the numbers underline the urgent need to diversify crude buyers. In 2025, the country still supplied 52 per cent of all African crude to the US despite lower volumes, but reliance on any single market carries risks.

NaijaChoice News analysis shows Nigerian oil is increasingly finding homes in Asia and Europe, while the $20 billion Dangote refinery continues to absorb more domestic barrels. Industry watchers say steady production gains and new buyers will cushion the impact of shifting US demand.

The data, released in the past 24 hours, will be closely watched in Abuja as officials weigh fresh strategies to protect foreign exchange earnings from oil.