Nigeria’s Crude Exports to US Drops to $2.2bn

Nigeria raked in $2.21 billion from crude oil exports to the United States in the first seven months of 2025.

The transaction was disclosed in the new data released by the US Census Bureau and Bureau of Economic Analysis.

The figure represents a 22 percent decline compared to the same period in 2024, when shipments were valued at $2.83 billion on a cost, insurance, and freight (CIF) basis.

According to the bureau, between January and July 2025, Nigeria shipped 28.7 million barrels of crude to the US — down by 8.8 percent from the 31.5 million barrels exported in the corresponding period last year.

But despite the drop, the census bureau said Nigeria remained America’s largest African crude supplier, ahead of Libya, Angola, and Ghana.

On a customs value basis, which measures the crude’s price at the point of export, the data showed that shipments were worth $2.16 billion, while the full landed cost stood at $2.21 billion.

Analysis of the monthly figures indicated sharp fluctuations in export values.

In June, the bureau said in June exports surged to 6.95 million barrels valued at $484 million (customs) and $496 million (CIF), making it the strongest month of the year.

However, in terms of volumes, the figure dropped steeply in July to 4.4 million barrels, worth $328 million (customs) and $336 million (CIF).

By comparison, Libya earned $729.3 million, Angola got $426.6 million, and Ghana raked in $225.8 million from crude exports to the US during the seven-month period.

Combined, African shipments totalled $3.82 billion, with Nigeria alone accounting for more than half.

According to the Nigerian Bureau of Statistics (NBS), crude oil was Nigeria’s major commodity exported in the second quarter of 2025 with a value of N11.96 trillion, representing 52.60 percent of total exports.

On September 16, the US received its first petrol shipment exported from the Dangote refinery.