Nigeria’s crude oil imports from the United States soared to over 42 million barrels in the first ten months of 2025, marking a significant increase from the 15.79 million barrels imported during the same period in 2024. Data from the US Energy Information Administration (EIA) shows that this 167% year-on-year jump is largely driven by rising refinery operations, especially the activities at Dangote Petroleum Refinery, which prefers US light sweet crude as feedstock.
Monthly import data highlights a fluctuating but overall upward trend. Nigeria imported no crude in January 2025, but shipments began in February at 3.11 million barrels, slightly lower than February 2024. By March, imports surged to 5.25 million barrels, almost three times higher than the 1.83 million barrels recorded in the same month last year. Subsequent months saw consistent growth, with June imports peaking at 9.16 million barrels, reflecting efforts to stabilize supply for domestic refining needs.
Analysts point to Nigeria’s increasing dependence on imported crude to meet refinery feedstock requirements, particularly as privately owned refineries expand operations. Petroleumprice.ng noted that if this trend continues, Nigeria’s full-year imports could surpass 2025 projections. The Dangote Petroleum Refinery has emerged as a key driver, using US light sweet crude for complex refining processes and steadily increasing its crude intake.
Economists say the surge has broader economic implications. In an interview with Vanguard, Prof. Wumi Iledare explained that while rising imports can support output, income, and employment if refinery utilisation remains high, Nigeria could face macroeconomic risks. These include exchange rate pressures and potential overreliance on imported feedstock, which may undermine long-term energy security if domestic crude allocation issues persist.
The significant increase in US crude imports underlines a structural shift in Nigeria’s oil sector. With over 42 million barrels imported in just ten months, the nation is navigating the fine balance between meeting immediate refining needs and ensuring long-term industrial optimisation. Market watchers will be closely monitoring how these imports affect domestic petroleum product prices and the broader economy in the coming months.
source: vanguard