Nigeria crude oil exports to the US earned \$2.21bn in 2025, down 22% from last year as shipments and prices weakened

Despite remaining Washington’s largest African supplier, Nigeria’s shipments fell compared to 2024. Between January and July, Nigeria exported 28.7 million barrels to the US down from 31.5 million barrels in the same period last year.

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On a customs value basis, earnings stood at \$2.16bn, rising to \$2.21bn on a Cost, Insurance and Freight basis.

The figures represent an 8.8 per cent drop in export volumes and a 22 per cent decline in dollar value, reflecting both reduced shipments and weaker crude prices.

Monthly performance fluctuated sharply. In June 2025, Nigeria shipped 6.95 million barrels valued at \$496m (C.I.F.), its strongest month of the year. But July saw exports fall to just 4.4 million barrels worth \$336m, underscoring volatility in volumes and prices.

Nigeria’s contribution dwarfed other African suppliers. Libya earned \$729.3m, Angola \$426.6m, and Ghana \$225.8m over the same period. Overall, African crude exports to the US reached \$3.82bn, with Nigeria alone providing more than half.

Domestically, data from the National Bureau of Statistics also painted a bleak picture. Nigeria’s total crude oil exports fell by N3.18tn in the first half of 2025, despite rising production.

Crude’s share of total exports slid from 80.8 per cent in Q1 2024 to just 52.6 per cent in Q2 2025, raising fresh concerns over fiscal stability.

Analysts link the downturn to global oil price volatility, growing US shale production, and ongoing theft and vandalism in Nigeria’s oil sector. While production has improved following government efforts to curb theft, not all gains have translated into steady export earnings.

Industry players, however, praised recent improvements in crude output.

“We must give it to the government this time, because their ability to curtail oil theft has really positively impacted crude output,” said Ukadike Chinedu, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria.

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Economists warn that continued reliance on oil revenues poses risks for Nigeria, urging faster diversification into non-oil exports. For now, the country remains America’s top African crude supplier — but the sharp fall in earnings highlights the fragility of its export performance.