Nigeria earned $2.21 billion from crude oil exports to the US in the first seven months of 2025.
The figure confirms Nigeria as America’s top African oil supplier despite weaker shipments and revenue.
Nigeria earned $2.21 billion from crude oil exports to the United States in the first seven months of 2025, according to fresh data from the US Census Bureau and the Bureau of Economic Analysis. The figure confirms Nigeria’s position as America’s most prominent African crude supplier, though shipments and revenues have weakened compared with last year.
Between January and July 2025, Nigeria exported 28.7 million barrels of crude to the US, well ahead of Libya ($729.3m), Angola ($426.6m), and Ghana ($225.8m). In total, African crude exports to the US stood at $3.82 billion, with Nigeria accounting for more than half.
Measured on a customs value basis, Nigeria’s exports were worth $2.16 billion, while on a Cost, Insurance, and Freight (CIF) basis, which includes shipping and insurance, the figure rose slightly to $2.21 billion. This highlights the additional cost of transporting crude across the Atlantic.
The new figures mark a decline from the same period in 2024, when Nigeria shipped 31.5 million barrels worth $2.78 billion (customs) and $2.83 billion (CIF). This represents an 8.8% drop in volume and a sharper 22% fall in value, reflecting both weaker export prices and reduced shipments.
Monthly data reveal significant fluctuations. In June 2025, exports surged to 6.95 million barrels valued at $496 million (CIF), the year’s strongest month. However, July saw volumes tumble to 4.4 million barrels, valued at just $336 million (CIF).
Nigeria’s own National Bureau of Statistics (NBS) reported that crude oil exports fell by ₦3.18 trillion in the first half of 2025 compared to the same period in 2024. Exports were valued at ₦24.92 trillion in H1 2025, down from ₦28.10 trillion a year earlier.
The steepest decline occurred in Q1 2025, when exports decreased by 16.3% year-over-year. By Q2, the drop moderated to 5.1%, but crude oil’s share of Nigeria’s total exports also fell from 80.8% in Q1 2024 to 62.9% in Q1 2025, and further to 52.6% in Q2 2025.
Analysts attribute the downturn to volatile oil prices, rising competition from other suppliers, infrastructure challenges, and theft within Nigeria’s oil sector. Shifts in US energy demand, influenced by the growth of domestic shale oil, have also reduced reliance on African imports.
