Nigeria imported about 61.7 million barrels of crude oil from the United States between January 2024 and January 2026, according to data from the US Energy Information Administration (EIA).
This came even as the country continued to export significantly larger volumes within the same period, exposing a growing imbalance in the country’s oil supply chain.
Data from the US agency showed a sharp shift in trade flows, with American crude now flowing steadily into Nigeria after nearly a decade of negligible transactions. Before 2024, the only notable supply came in 2016, when exports averaged just 19,000 barrels per day.
The trend changed in 2024 with the start of operations at the Dangote refinery, which industry players say has increasingly turned to foreign crude to bridge gaps in domestic supply.
Within the first six months of that year alone, Nigeria imported 15.7 million barrels from the US, with June recording the highest inflow at 3.96 million barrels.
Imports accelerated further in 2025, accounting for the bulk of the two-year volume. Between February and December, inflows reached 41.06 million barrels, peaking in June at 305,000 barrels per day, equivalent to 9.15 million barrels in one month.
However, volumes dropped sharply towards the end of the year, reflecting fluctuating supply dynamics.
In January 2026, imports rose again to 159,000 barrels per day, translating to 4.93 million barrels, bringing the total volume over the two-year period to 61.7 million barrels.
The figures stand in contrast to Nigeria’s export profile.
According to data from the Central Bank of Nigeria (CBN), the country exported about 306.7 million barrels of crude between January and October 2025, representing roughly 69 per cent of total production during the period. In the first two months of 2026 alone, exports reached 55.39 million barrels.
Despite producing over 443 million barrels within the first 10 months of 2025, only about 137 million barrels were retained for domestic use, leaving local refineries struggling to secure adequate feedstock.
Operators say the Dangote Refinery requires over 19 million barrels monthly to run at optimal capacity, a demand that local supply has failed to meet consistently. This shortfall has forced the facility to source crude not only from the US but also from Ghana and other African producers.
Imports became necessary to stabilise the 650,000 barrels per day refinery operations amid inconsistent domestic allocations, despite the introduction of the Naira-for-crude arrangement. According to the management of the company, only about four to five cargoes were distributed, but this has since changed.
Alongside Dangote Refinery, other smaller operators were also affected, since the country’s crude allocation is tied to joint ventures with International Oil Companies (IOCs).
The development underscores a persistent structural challenge in Nigeria’s oil sector, exporting large volumes of crude while struggling to supply domestic refineries, raising fresh concerns about policy coordination, upstream allocation, and the long-term viability of local refining.