Nigeria Imports 61.7 Million Barrels of US Crude Amid Rising Oil Exports and Local Refining Gap

Nigeria imported about 61.7 million barrels of crude oil from the United States between January 2024 and January 2026, highlighting a striking contradiction in Africa’s largest oil producer: strong crude exports alongside rising dependence on foreign oil for domestic refining.

The figures, drawn from the US Energy Information Administration (EIA), show a sharp shift in trade flows that were virtually non-existent before 2024. Analysts link the change to the start of operations at the Dangote Refinery, which has significantly altered Nigeria’s crude demand pattern.

While Nigeria exported more than 300 million barrels of crude in 2025 alone, and another 55.39 million barrels in early 2026, it still turned to US suppliers to bridge local supply gaps. The situation underscores a growing imbalance between production, exports, and domestic refining capacity.

Data shows imports rose steadily in 2024 and peaked in 2025, when monthly inflows hit as high as 305,000 barrels per day. The trend reflects increased demand from local refineries, especially the Dangote facility, which requires over 19 million barrels monthly to operate at full capacity.

Despite being a major oil producer, Nigeria continues to export a large share of its crude—about 69% of production in 2025—while struggling to meet local feedstock needs. Industry stakeholders say the paradox highlights long-standing structural issues in the downstream sector, even as new mega-refining capacity begins to reshape demand patterns.

source: punch