Nigeria’s U.S. Crude Oil Imports Climb to Over 42 Million Barrels in Ten Months

Nigeria’s importation of crude oil from the United States recorded a sharp increase within the first ten months of 2025, reaching more than 42 million barrels, according to newly released industry data.

Statistics published by the United States Energy Information Administration (EIA) show that between January and October 2025, Nigeria imported approximately 42.13 million barrels of U.S. crude oil. This figure represents a substantial rise when compared to the 15.79 million barrels imported during the same period in 2024.

The data indicate a year-on-year growth of about 167 percent, highlighting a major shift in Nigeria’s crude sourcing pattern. Analysts attribute this significant increase primarily to the expanding operational needs of the Dangote Petroleum Refinery, which has intensified crude intake to sustain refining capacity.

In contrast, crude oil imports from the United States in 2024 remained relatively low and inconsistent. Total imports for that year did not surpass four million barrels, while volumes declined sharply to 1.04 million barrels in June, reflecting supply instability and subdued refinery demand at the time.

A breakdown of 2025 monthly figures shows that Nigeria recorded no crude oil imports from the U.S. in January. However, imports resumed in February, reaching 3.11 million barrels, although this was slightly lower than the 3.61 million barrels imported in February 2024.

The upward trend became more pronounced in March 2025, when imports climbed to 5.25 million barrels, significantly exceeding the 1.83 million barrels recorded in March of the previous year. This increase signaled a gradual recovery and scaling of refinery feedstock procurement.

According to the EIA, Nigeria imported 3.79 million barrels in May 2025, representing an increase of approximately 1.71 million barrels compared to May 2024. The most notable surge occurred in June, with imports jumping to 9.16 million barrels, marking the highest monthly intake during the period under review.

The momentum continued into the third quarter of the year. Imports reached 4.17 million barrels in July, marginally higher than July 2024 figures. This was followed by 6.24 million barrels in August, while both September and October recorded steady volumes of 4.19 million barrels each, reflecting a stabilising import pattern.

Industry analysts cited by Petroleumprice.ng explained that the rising import volumes are linked to Nigeria’s increasing reliance on foreign crude to meet refinery feedstock requirements. This trend has become more evident as privately owned refineries, particularly large-scale facilities, expand their processing operations.

The publication noted that with 42.13 million barrels imported within ten months, Nigeria’s intake of U.S. crude oil has nearly tripled on a year-on-year basis. If the existing trend continues, full-year import volumes could climb even further before the end of 2025.

The data also suggest a progressive ramp-up in crude intake at the Dangote Petroleum Refinery, where U.S. light sweet crude has increasingly become the preferred feedstock. Analysts point to its compatibility with advanced refining systems and its efficiency in producing high-value petroleum products.

Speaking in an interview with Vanguard, Petroleum Economist Professor Wumi Iledare described the development as a major structural shift with far-reaching implications for Nigeria’s economy and energy sector.

He stated that the surge in crude oil imports from the United States—exceeding 42 million barrels within the first ten months of 2025—signals important macroeconomic and sector-wide consequences. According to him, the overall impact on the economy will depend largely on exchange rate movements, the effectiveness of domestic crude allocation, and refinery utilisation levels.

Professor Iledare explained that crude oil imports affect petroleum product pricing and inflation mainly through the exchange rate channel. He noted that if macroeconomic stability is maintained and refinery operations remain efficient, the outcome could be positive in terms of economic output, income growth, and employment generation.

However, he warned that failure to resolve persistent issues surrounding domestic crude supply allocation and pricing could deepen Nigeria’s reliance on imported feedstock. Such an outcome, he argued, would contradict national energy security objectives and undermine long-term industrial optimisation goals.