Nigeria generated $2.21 billion from crude oil exports to the United States during the first seven months of 2025, according to data released by the US Census Bureau and the Bureau of Economic Analysis.
This makes Nigeria the largest African supplier of crude to the US, surpassing Libya, Angola, and Ghana despite a slight decline from the previous year.
Between January and July 2025, Nigeria shipped 28.7 million barrels of crude, valued at $2.16 billion on a customs basis and $2.21 billion on a Cost, Insurance, and Freight (C.I.F.) basis.
The difference reflects additional shipping and insurance costs. Compared to the same period in 2024, exports decreased from 31.5 million barrels, with a customs value of $2.78 billion and C.I.F. value of $2.83 billion, representing an 8.8% drop in volume and roughly a 22% decline in dollar earnings.
Monthly data show fluctuations in exports.
In June 2025, Nigeria shipped 6.95 million barrels worth $496 million (C.I.F.), while July saw a decline to 4.4 million barrels valued at $336 million (C.I.F.), indicating both lower volumes and weaker pricing.
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Other African exporters to the US recorded smaller figures over the same period: Libya earned $729.3 million, Angola $426.6 million, and Ghana $225.8 million (C.I.F.), with total African crude exports reaching $3.82 billion, Nigeria contributing over half.
The figures highlight Nigeria’s strategic role in global energy markets but also underline vulnerabilities.
The decline in earnings points to fluctuating crude prices, logistical challenges, and competition in the US market.
Analysts warn that this trend could impact foreign exchange reserves and revenue.
Earlier reports from the National Bureau of Statistics (NBS) show Nigeria’s total crude oil exports dropped by N3.18 trillion in the first half of 2025, even as production increased.
Exports were valued at N24.92 trillion between January and June 2025, down from N28.10 trillion in the same period of 2024—a decline of 11.3%.
Crude oil’s share of total exports also fell from 80.8% in Q1 2024 to 62.9% in Q1 2025, continuing a downward trajectory in Q2.
Industry operators acknowledged government efforts to curb oil theft, which has supported crude output.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Ukadike Chinedu, emphasized the importance of sustaining these measures to stabilize foreign exchange from crude sales.
Economists continue to advocate for diversification beyond oil, as non-oil exports remain insufficient to offset declining crude revenues.
Nigeria’s export performance in the coming months will depend on global oil prices, domestic production stability, and US energy demand.
For now, Nigeria maintains its position as the top African crude supplier to the United States.
Image Credit: TheConclaveNg
