US Slashes Nigerian Crude Imports by Nearly 50% in January 2026

January 2026 saw US imports of Nigerian crude fall by about 47.2% month-on-month, dropping to 1.664 million barrels from 3.149 million barrels in December. Import values plunged from $217.4m to $116m on a customs basis, with similar declines in CIF costs. Nigeria lost ground to African peers as Angola’s shipments rose sharply and Ghana emerged as a new supplier. Nigeria’s share of total US crude imports fell from 1.59% in December to 0.88% in January amid an overall 5.1% drop in US crude purchases. Despite higher domestic output and a profit of N385bn reported by the national oil company, the decline reflects shifting trade patterns under recent US tariff and visa policies. A US goods trade surplus with Nigeria widened in January as American exports to Nigeria jumped, underscoring evolving bilateral dynamics.

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