The United States of America cut its purchase of Nigerian crude oil significantly in January 2026, and imports fell by 47.16 percent month-on-month, according to the latest data from the US Census Bureau and the US Bureau of Economic Analysis.
Figures from the US report on International Trade in Goods and Services show that US imports from Nigeria fell to 1.664 million barrels in January 2026, from 3.149 million barrels recorded in December 2025.
This represents a decrease of 1.485 million barrels in one month, which indicates a significant decrease in Nigeria’s share of the US market.
In other words, the drop was equally steep. The customs value of Nigeria’s imports decreased from $217.36m in December to $115.99m in January, while the cost, insurance and value of goods decreased from $223.10m to $118.95m in the same period. The difference between these two measures reflects other costs such as shipping and insurance included in the CIF rates, which are not included in the tax rate.
This means that in January, the CIF value of Nigerian crude was $2.96m above its customs value, compared to a wide gap of about $5.74m in December.
A narrow gap suggests a very low cost of goods or insurance, or a short shipping distance during that period.
The conflict comes amid a broader decline in U.S. exports, which fell from 198.29 million barrels in December to 188.21 million barrels in January, a drop of about 5.1 percent. The total value of imports also fell, with customs value reduced from $11.41bn to $10.56bn, while CIF value decreased from $12.04bn to $11.15bn.
Within Africa, Nigeria lost some peers. While exports from other African countries to the United States remained at 6.933 million barrels, Angola recorded a sharp increase, rising from 575,000 barrels in December to 2.062 million barrels in January.
Ghana also emerged as a new exporter with 738,000 barrels, reporting no measurable supply in December. On the other hand, Libya saw its exports to the US drop from 2.137 million barrels to 1.086 million barrels during the period.
Nigeria’s share of US imports has also declined. The country accounted for 0.88 percent of total U.S. imports in January, up from 1.59 percent in December, showing a sharp decline in numbers.
Further analysis of US trade data shows that crude oil remains Nigeria’s largest export to the United States. Total US imports from Nigeria stand at $183m in January 2026, compared to $297m in December 2025.
With crude oil imports valued at $115.99m (customs basis) and $118.95m on a CIF basis, crude accounted for about 63.4 percent to 65.0 percent of total US imports from Nigeria in January. This compares to about 73.2 percent in December in terms of export trends, indicating a moderate trend in negative management as imports declined.
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PUNCH also noted that the US recorded a $419m trade surplus with Nigeria in January, up from $84m in December. This was driven by a rise in US exports to Nigeria, which increased from $381m to $602m, as imports from Nigeria fell.
Across Africa, the US posted a trade deficit of $503m in January, reversing the $174m surplus recorded in December. Total US imports from Africa rose from $2.88bn to $3.54bn, while exports to the region fell slightly from $3.05bn to $3.04bn.
PUNCH earlier reported that Nigeria accounts for 52 percent of African crude oil exports to the United States in 2025. According to the previous report, the total US crude oil exports from Africa stand at 89.371 million barrels in 2025, up from 103.631 million barrels in 2024 or 3 million barrels 3 cents.
Out of the 89.371 million barrels from Africa in 2025, Nigeria provided 46.618 million barrels, compared to 50.793 million barrels in 2024. This was a drop of 4.175 million barrels or 8.2 percent year-on-year.
Despite the low figure, Nigeria’s share of African exports to America rose. In 2025, Nigeria’s 46.618 million barrels accounted for 52.2 percent of Africa’s total exports, up from 49.0 percent in 2024, when it exported 50.793 million barrels out of the continent’s 103.631 million barrels.
PUNCH earlier reported that the Nigerian National Petroleum Company Limited recorded a profit after tax of N385bn in January 2026, even as the production of crude oil and condensate increased to 1.64 million barrels per day, according to the latest monthly performance report of the firm.
The January 2026 summary of the NNPC, released on Monday, showed that the state-owned power company generated N2.571tn revenue in the month while remitting N726bn as statutory payments to the Federation.
This means that the company recorded a sharp decrease of 47 percent in monthly revenue, which dropped from N4.82tn in December 2025 to N2.57tn in January 2026. This discrepancy occurred despite the slight increase in the company’s post-tax profit.
It revealed that Nigeria produced 1.64 million barrels per day, up from 1.55 million barrels per day recorded in December 2025. This represents an increase of 0.09mbpd, or about 5.8 percent monthly.
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PUNCH noted that the drop in imports to America occurred despite high production. The trade results come against the backdrop of new US protectionist measures and tariff-oriented trade policies associated with US President Donald Trump, which have influenced acquisition decisions, pricing structures and trade flows around the world.
Last year, Donald Trump signed an executive order raising Nigeria’s tariff rate from 14 percent to 15 percent, while Washington implemented its “tariff” tariff regime.
The order, issued in late July, came into effect on August 7, 2025. Although crude oil has been released in several cases, the high duty applies directly to many different types of Nigerian oil exports, causing uncertainty for American exporters and weakening demand before and after the effective date.
Since most crude oil exports have been exempted from the new tariff regime, crude oil exports appear to be bearing the brunt of the disruption.
Renowned economist and Chief Executive Officer of the Private Enterprise Promotion Agency, Dr. Muda Yusuf, has downplayed the impact of the US tariffs on Nigeria.
“Our trade with the US is not that strategic. If anything goes wrong, it is not as if it will have any significant impact on our economy. Our exposure to trade is greatly reduced,” Yusuf explained.
He noted that Nigerian exports to the US are dominated by crude oil and a few other products, such as fertiliser, making the country’s trade situation weak and underdeveloped in non-oil areas. Yusuf added that Nigeria’s tariff production is relatively limited compared to other countries.
However, he pointed to another challenge beyond tariffs: the US visa policy. “The biggest challenge for Nigeria’s trade relations with the US is Washington’s visa policy. Travel restrictions limit trade and inflows. That is more important than long-term tariffs,” he said.
Since its inception, the Trump administration has steadily continued a series of visa restrictions and travel restrictions targeting Nigeria and several other countries.
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