By: Chioma Madonna Ndukwu
61.7 Million Barrels: Nigeria Turns to U.S. Crude Amid Strong Oil Exports
Nigeria has imported about 61.7 million barrels of crude oil from the United States between January 2024 and January 2026, highlighting a growing reliance on foreign supply even as the country maintains strong export levels.
Figures from the U.S. Energy Information Administration show that crude inflows from the U.S. rose sharply within the period, marking a clear shift from previous years when such trade was minimal or nearly absent.
Before 2024, imports were rare, with only limited activity recorded in 2016.
The increase aligns with the start of operations at the Dangote Refinery, which has significantly changed Nigeria’s crude demand structure.
Since coming online, the facility has required large volumes of feedstock, pushing domestic buyers to supplement local supply with imports.
In 2024 alone, Nigeria brought in about 15.7 million barrels of U.S. crude. The trend accelerated in 2025, which accounted for the largest share of imports, with roughly 41.06 million barrels recorded between February and December.
At its peak in mid-2025, inflows crossed 300,000 barrels per day before easing toward year-end.
Despite this rising dependence on imported crude, Nigeria continues to record strong export performance.
Data from the Central Bank of Nigeria shows that the country exported about 306.7 million barrels between January and October 2025 alone, underscoring its position as a major global supplier.
Exports remained high into 2026, with over 55 million barrels shipped in just the first two months of the year.
This contrast between high export volumes and increasing imports reflects ongoing structural imbalances in the oil sector.
Industry observers note that while Nigeria produces significant crude volumes, a large portion is tied to international commitments, leaving domestic refineries with insufficient supply.
As a result, facilities such as the Dangote Refinery have increasingly relied on imports from the U.S. and other markets to maintain operations.
Business mogul Aliko Dangote has previously explained that crude imports have become necessary to bridge the gap between refinery demand and local availability.
The development highlights a shifting phase in Nigeria’s oil economy—where the country continues to export heavily while also importing crude for domestic refining, raising fresh concerns about efficiency within the energy value chain.
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