Nigeria Buys Millions of US Crude Amid Rising Oil Exports
By Wellington Jopelo
Nigeria has imported about 61.7 million barrels of crude oil from the United States between 2024 and early 2026, raising fresh concerns about the country’s dependence on foreign supply despite its status as a major oil producer.
The development comes even as Nigeria continues to export large volumes of crude, with over 300 million barrels shipped out within the first ten months of 2025 alone.
Recent figures show that crude shipments from the United States to Nigeria have increased sharply, marking a major shift from previous years when such trade was almost non-existent.
Before 2024, crude imports from the US into Nigeria were minimal, with only a small volume recorded nearly a decade ago.
However, the trend changed significantly following the start of operations at the Dangote refinery, which requires large volumes of crude to function at full capacity.
Industry observers say the refinery has become a key driver of the growing imports as it seeks to meet its processing needs.
In 2024, Nigeria imported millions of barrels within just a few months, with fluctuations recorded across different periods of the year.
The volume rose further in 2025, which accounted for the largest share of the imports, as supply demands increased.
At some points during the year, monthly imports reached record levels before dropping again towards the end of the year.
Data for early 2026 also showed continued inflow of crude from the United States, adding to the total volume imported.
The situation highlights a growing imbalance in Nigeria’s oil sector, where large export figures coexist with shortages for local refining.
While the country produces significant amounts of crude oil, a major portion is still exported, leaving limited supply for domestic use.
This has forced refineries within the country to look outward for additional feedstock.
The Dangote refinery, one of the largest in the world, requires steady supply to operate efficiently and has turned to foreign sources to bridge the gap.
In addition to the United States, crude has also been sourced from other countries to meet demand.
Meanwhile, data shows that Nigeria exported tens of millions of barrels in early 2026, continuing the pattern of high export volumes.
Experts say the imbalance between exports and local supply remains a major challenge for the country’s refining sector.
The development has renewed discussions on the need to prioritise domestic refining and ensure adequate supply for local facilities.