Nigeria exports $2.57bn crude to US, highest in Africa

Nigeria shipped crude oil worth $2.57bn to the United States between January and August 2025, making it the single largest African supplier of crude to the American market within the period, based on new US Census Bureau import data.

An analysis of data from the US International Trade in Goods and Services report shows that Nigeria’s oil cargoes accounted for more than half of all African crude oil received by the US in the first eight months of the year.

The landing value of Nigeria’s crude, captured under the Cost, Insurance and Freight metric, placed it far ahead of Angola, Libya, Ghana, and other African suppliers. The figures show that the US imported a total African crude CIF value of $4.67bn over the eight-month period.

Nigeria’s $2.57bn, therefore, represents 55 per cent of all African oil barrels arriving at American ports. No other African country came close to this level of contribution to the US crude supply. Nigeria also supplied the largest volume of crude oil from the continent, with American refiners taking in 33.23 million barrels from January to August 2025.

Total African shipments to the US over the same period stood at 60.75 million barrels, placing Nigeria’s share at 54.7 per cent of the entire regional export. This means that more than one in every two barrels of African crude imported by the US within the period came from Nigeria.

In August 2025 alone, Nigeria delivered 4.49 million barrels of crude to the US, slightly higher than the 4.40 million barrels recorded in July. The CIF value for August reached $353.39m, compared to $335.97m in July. These back-to-back increases show steady demand for Nigeria’s medium-sweet crude grades, which remain useful for blending and refining flexibility.

By comparison, Angola supplied 6.86 million barrels year-to-date, less than a quarter of Nigeria’s total, translating to a CIF value of $534.84m. Libya exported 11.51 million barrels, but its CIF value of $900.88m remained far below Nigeria’s because of different crude grades and pricing dynamics.

Ghana, a smaller producer, shipped 3.69 million barrels valued at $267.47m, while the category labelled “Other Africa” contributed 5.45 million barrels worth $403.44m. The combined CIF value from the continent in August was $850.75m, with Nigeria alone accounting for 41.5 per cent of that month’s African shipments.

In July, Africa supplied $787.51m, of which Nigeria contributed 42.6 per cent. These consistent monthly patterns reinforce Nigeria’s dominant position.

The Customs Value data also affirmed this trend. Nigeria’s customs-valued crude imports to the US stood at $2.50bn from January to August, out of Africa’s total of $4.56bn, maintaining a similar 55 per cent dominance. Customs Value excludes freight and insurance but indicates pricing at the port of origin.

In terms of shipment momentum, Nigeria’s crude volumes showed relative stability between July and August, rising from 4.40 million barrels to 4.49 million barrels, a month-on-month growth of 2 per cent. Angola’s shipments fell sharply from 2.04 million barrels in July to 1.39 million barrels in August, while Libya and Ghana recorded moderate volume increases.

The PUNCH further observed that total American imports of Nigerian goods stood at $3.58bn in the first eight months of the year, down from $4.197bn in the corresponding period of 2024, reflecting a decline of 14.7 per cent linked to the new 15 per cent tariff imposed by President Donald Trump on a wide range of non-oil Nigerian exports.

However, crude oil remained largely insulated from the tariff regime and continued to anchor the commercial relationship between both countries.

The $2.568bn worth of Nigerian crude imported by the US accounted for about 72 per cent of all goods Washington purchased from Nigeria between January and August, underlining the country’s heavy dependence on oil exports despite efforts to promote non-oil trade.

The combined value of non-oil shipments such as agricultural goods, manufactured products, and solid minerals made up the remaining 28 per cent, a segment that bore the full impact of the tariff increase and suffered sharper declines through the year.

The figures indicate that the steep fall in overall US purchases was driven almost entirely by weakening non-oil demand, as crude oil volumes and values remained stable across the period.

The PUNCH earlier reported that Nigeria’s import of crude oil from the United States more than doubled in the first eight months of 2025, rising by 101 per cent, according to data from the US Energy Information Administration.

The figures show that the country imported 31.69 million barrels between February and August 2025, compared to 15.79 million barrels in the same period of 2024. The increase of 15.9 million barrels reflects a significant shift in sourcing, driven by supply pressures and the need to stabilise domestic fuel output.

The rising inflow of US crude highlights Nigeria’s continued reliance on foreign barrels amid inconsistent domestic crude supply and the ongoing transition in local refining. With crude production still below target levels and refinery operations picking up, US light sweet grades have remained a key option for meeting supply needs.

The volatility and eventual surge indicate that the Dangote Refinery’s crude intake is entering a steady ramp-up, with US light sweet crude favoured for its compatibility with complex refining processes. However, the rising reliance on imported US barrels highlights a longstanding paradox for Nigeria.

Despite being Africa’s biggest oil producer and an OPEC member, it has historically exported crude while importing refined products because its state refineries are moribund.