Between January 2024 and January 2026, Nigeria brought in about 61.7 million barrels of crude oil from the United States, valued at roughly $4.9 billion based on an average price of $80 per barrel. This points to increasing dependence on foreign crude despite Nigeria’s position as one of Africa’s top oil exporters.
This pattern reveals a growing imbalance within the nation’s oil industry. Even as Nigeria ships large volumes of crude abroad, local refineries especially the Dangote Refinery are turning to international sources to keep operations running.
Figures from the U.S. Energy Information Administration show that crude shipments from the U.S. to Nigeria surged over the two-year period, marking a sharp turnaround after years of minimal trade. Before 2024, such imports were uncommon, with only a brief instance recorded in 2016.
This change aligns with the start of operations at the Dangote Refinery, which analysts say has significantly increased demand for imported crude. From January to June 2024, Nigeria imported around 15.7 million barrels, estimated at $1.26 billion.
The pace of imports picked up even more in 2025, accounting for the bulk of inflows. Between February and December of that year, the country received approximately 41.06 million barrels, worth about $3.28 billion.
Monthly import levels reached their highest point in June 2025, surpassing 300,000 barrels per day and exceeding 9 million barrels for the month. Volumes eased later in the year before climbing again in January 2026.
Even with rising imports, export volumes remain strong. Data from the Central Bank of Nigeria shows that about 306.7 million barrels were exported between January and October 2025, generating roughly $24.5 billion nearly 70% of total output during that period. The trend extended into 2026, with 55.39 million barrels, valued at about $4.4 billion, exported in the first two months.
This imbalance highlights deeper structural issues within Nigeria’s oil sector. A large share of crude production is committed to international supply agreements, reducing the volume available for local refining.
Industry insiders note that the Dangote Refinery needs over 19 million barrels of crude each month to function at full capacity. As a result, it has had to supplement domestic supply with imports from the United States, Ghana, and other producers.
Business magnate Aliko Dangote has previously explained that these imports are required to bridge the gap between local supply and refinery demand.
Overall, this development reflects a shift in Nigeria’s energy approach from depending on imported refined fuel to relying on imported crude for domestic processing. However, analysts warn that unless policies are introduced to prioritise local supply, inefficiencies across the oil value chain may continue.