By Ayo Kehinde
The United States sharply reduced its imports of Nigerian crude oil in January 2026, cutting purchases by about 47.16 percent month-on-month, according to the latest data from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.
Figures from the U.S. International Trade in Goods and Services report show that crude imports from Nigeria fell to 1.664 million barrels in January, down from 3.149 million barrels in December 2025.
This marks a decline of 1.485 million barrels within a single month, underscoring a significant contraction in Nigeria’s share of the U.S. crude market.
In monetary terms, the drop was equally pronounced. The customs value of Nigerian crude imports declined from $217.36 million in December to $115.99 million in January.
Similarly, the cost, insurance, and freight (CIF) value fell from $223.10 million to $118.95 million over the same period.
The gap between customs value and CIF reflects additional costs such as shipping and insurance.
In January, the CIF value exceeded the customs value by $2.96 million, compared to a wider difference of $5.74 million recorded in December.
Within Africa, Nigeria lost ground to competing suppliers.
While total African crude exports to the U.S. remained unchanged at 6.933 million barrels, Angola recorded a sharp increase, with shipments rising from 575,000 barrels in December to 2.062 million barrels in January.
Ghana also entered the market as a new supplier, exporting 738,000 barrels after recording no measurable shipments in December.
The decline in U.S. imports came despite a rise in Nigeria’s crude production.
Output increased to 1.64 million barrels per day in January, up from 1.55 million barrels per day in December 2025 an increase of 0.09 million barrels per day, or about 5.8 percent.
The contraction also occurred despite a marginal increase in after-tax profit, highlighting a disconnect between rising domestic production and weakening demand from a key export market.
