The United States has sharply cut its imports of Nigerian crude oil, reducing shipments by nearly half in January, a move that has opened the door for Angola and Ghana to expand their share of the U.S. market.
According to the latest data from the US Census Bureau and the Bureau of Economic Analysis, Nigerian crude imports fell 47.2 per cent month-on-month, dropping from 3.15 million barrels in December 2025 to 1.66 million barrels in January 2026. The fall marks one of the steepest short-term declines for Nigeria in recent years.
The financial impact was equally stark. Customs data show the value of Nigerian crude exports to the US dropped from $217 million in December to $116 million in January, while cost, insurance, and freight (CIF) values fell from $223 million to $119 million.
The narrowing gap between customs and CIF values may indicate lower shipping costs or shorter delivery routes.
Despite Nigeria’s slump, total African crude exports to the U.S. remained steady at 6.93 million barrels. Angola surged from 575,000 barrels in December to 2.06 million barrels in January, while Ghana entered the market with 738,000 barrels after recording no exports the previous month.
Libya, by contrast, saw its exports halve from 2.14 million barrels to 1.09 million barrels.
Nigeria’s share of US crude imports dropped from 1.59 per cent to 0.88 per cent, underscoring how quickly market positions can shift. Meanwhile, total US crude imports fell 5.1 per cent, from 198.3 million barrels to 188.2 million barrels, reflecting a broader cooling in demand.
Economist Muda Yusuf of the Centre for the Promotion of Private Enterprise said tariffs were not the main factor behind the decline.
“Nigeria’s heavy reliance on crude oil and lack of diversification is more critical. Travel and investment barriers to the US matter more in the long run than minor tariff changes,” he explained.
Even as Nigeria’s oil production increased to 1.64 million barrels per day in January, higher output did not translate into stronger U.S. demand. The Nigerian National Petroleum Company posted a profit after tax of ₦385 billion despite revenue falling sharply, highlighting the volatility of global markets.
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