By Our Correspondent
National News – The United States drastically reduced its imports of Nigerian crude oil in January 2026, with shipments falling nearly 47 per cent compared to December 2025.
U.S. trade data shows imports dropped from 3.149 million barrels in December to 1.664 million barrels in January, causing a significant contraction in Nigeria’s market share.
The customs value of these imports declined from $217.36 million to $115.99 million, while the cost, insurance, and freight (CIF) value decreased from $223.10 million to $118.95 million.
The decline occurred amid an overall slowdown in U.S. crude imports, which fell 5.1 per cent from 198.29 million barrels in December to 188.21 million barrels in January.
Nigeria’s share of total U.S. crude imports dropped from 1.59 per cent to 0.88 per cent. Within Africa, Angola and Ghana gained ground as U.S. suppliers, while Libya’s exports fell.
Despite higher Nigerian production at 1.64 million barrels per day, export volumes to the U.S. decreased, suggesting shifts in U.S. sourcing and trade policies.
Analysts point to U.S. trade measures, including tariff adjustments, as contributing factors.
Former U.S. President Donald Trump raised Nigeria’s tariff from 14 per cent to 15 per cent in mid-2025 under a “reciprocal” trade framework, affecting non-oil exports more than crude.
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, noted that the broader impact of U.S. tariffs on Nigeria is limited, with visa policies posing greater long-term challenges for trade and investment.
Despite reduced volumes, Nigeria remains a leading African crude exporter to the U.S., contributing 52.2 per cent of Africa’s oil shipments in 2025.
The Nigerian National Petroleum Company Limited (NNPC) reported a profit of N385 billion in January 2026, even as revenue dropped 47 per cent to N2.571 trillion.
The reduction in U.S. imports raises questions about market diversification, pricing strategies, and the resilience of Nigeria’s crude export sector in an evolving global energy market.
