US Cuts Nigerian Crude Imports by Nearly 50% in January 2026: What It Means for Oil Trade
The United States sharply reduced its imports of Nigerian crude oil in January 2026, marking a nearly 50% drop compared to December 2025, according to data from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. U.S. crude imports from Nigeria fell to 1.664 million barrels in January, down from 3.149 million barrels the previous month, reflecting a significant contraction in Nigeria’s share of the American crude market.
In monetary terms, the decline was equally steep. The customs value of Nigerian crude decreased from $217.36 million in December to $115.99 million in January, while the cost, insurance, and freight (CIF) value fell from $223.10 million to $118.95 million. The narrowing gap between CIF and customs values suggests slightly lower shipping or insurance costs during the period.
This reduction came as part of a broader slowdown in total U.S. crude imports, which dropped by 5.1% month-on-month, from 198.29 million barrels in December to 188.21 million barrels in January. Within Africa, Nigeria lost ground to peers such as Angola, which saw a sharp rise in exports to the U.S., and Ghana, which emerged as a new supplier. Consequently, Nigeria’s share of total U.S. crude imports fell from 1.59% in December to 0.88% in January.
Despite the dip in U.S. imports, Nigeria’s crude production actually increased slightly, rising from 1.55 million barrels per day in December 2025 to 1.64 million barrels per day in January 2026. The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of N385 billion, though total revenue dropped sharply from N4.82 trillion in December to N2.57 trillion in January, illustrating the impact of the declining U.S. market on earnings.
Analysts suggest that while U.S. trade policies, including protectionist rhetoric and higher tariffs on non-oil goods, have contributed to shifting sourcing decisions, Nigeria’s trade relationship with the U.S. remains narrow and heavily oil-dependent. Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, emphasized that broader trade issues, such as visa restrictions, may pose more long-term challenges for investment and non-oil trade than tariffs alone.
source: punch