The United States cut its imports of Nigerian crude oil by nearly half in January 2026, opening space for Angola and Ghana to gain ground in one of the world’s most competitive energy markets, according to data from the U.S. Census Bureau and the Bureau of Economic Analysis.
Imports from Nigeria fell 47.2 per cent compared to December 2025, sliding from 3.15 million barrels to just 1.66 million barrels, one of the sharpest month-to-month declines in recent years. The financial value of Nigerian exports mirrored the volume drop, falling from $217 million in December to roughly $116 million in January, while cost, insurance, and freight valuations also fell sharply from $223 million to $119 million.
Within Africa, however, Nigeria’s setback created openings for other producers. Angola’s exports to the U.S. surged from 575,000 barrels to 2.06 million barrels, while Ghana entered the market, shipping 738,000 barrels after recording no measurable exports the previous month. Libya moved in the opposite direction, with its shipments falling from 2.14 million barrels to 1.09 million barrels over the same period. Total African crude exports to the U.S. held steady at 6.93 million barrels, meaning the overall African contribution was preserved even as Nigeria’s share collapsed.
Nigeria’s share of total U.S. crude imports slid to 0.88 per cent in January, down from 1.59 per cent in December. The country’s loss of ground was particularly stark because it came despite rising domestic output. The Nigerian National Petroleum Company reported production of 1.64 million barrels per day in January, up from 1.55 million barrels per day in December, yet higher output did not translate into stronger U.S. demand.
The state oil company posted a profit after tax of ₦385 billion even as revenue fell from ₦4.82 trillion in December to ₦2.57 trillion in January, a divergence analysts attributed to operational efficiencies in a volatile market.
Economist Muda Yusuf of the Centre for the Promotion of Private Enterprise said the decline was more structural than policy-driven. He noted that Nigeria’s heavy reliance on crude and limited export diversification were more consequential factors than the tariff adjustments associated with U.S. trade policy, and that investment and travel barriers posed greater long-term risks to the bilateral relationship than minor levy changes.
The broader U.S. crude import market also contracted, falling 5.1 per cent from 198.3 million barrels in December to 188.2 million barrels in January. Over the longer term, Nigeria remains Africa’s dominant crude supplier to the U.S., having accounted for 52.2 per cent of the continent’s shipments in 2025 by supplying 46.6 million barrels out of a total 89.4 million barrels imported from Africa.
