News
US Slashes Nigerian Crude Imports by Nearly 50%
The United States sharply reduced its imports of Nigerian crude oil in January 2026, with purchases falling by approximately 47.16% month-on-month, according to the latest data from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.
Figures from the U.S. International Trade in Goods and Services report indicate that U.S. crude imports from Nigeria fell to 1.664 million barrels in January 2026, down from 3.149 million barrels recorded in December 2025. This represents a decline of 1.485 million barrels within one month, showing a significant contraction in Nigeria’s share of the U.S. crude market.
In value terms, the drop was equally steep. The customs value of Nigerian crude imports declined from $217.36m in December to $115.99m in January, while the cost, insurance, and freight value fell from $223.10m to $118.95m over the same period. The difference between the two measures reflects additional costs such as shipping and insurance included in CIF values, which are excluded from customs valuation.
This means that in January, the CIF value of Nigerian crude was about $2.96m higher than its customs value, compared to a wider gap of about $5.74m in December. The narrowing gap suggests relatively lower freight or insurance costs, or shorter shipping distances within the period.
The contraction comes amid a broader slowdown in total U.S. crude imports, which declined from 198.29 million barrels in December to 188.21 million barrels in January, representing a drop of about 5.1 per cent. Total import value also fell, with customs value decreasing from $11.41bn to $10.56bn, while CIF value dropped from $12.04bn to $11.15bn.
Within Africa, Nigeria lost ground to some peers. While total African crude exports to the U.S. remained flat at 6.933 million barrels, Angola recorded a sharp increase, rising from 575,000 barrels in December to 2.062 million barrels in January.
Ghana also emerged as a new supplier with 738,000 barrels, having recorded no measurable exports in December. By contrast, Libya saw its exports to the U.S. decline from 2.137 million barrels to 1.086 million barrels over the period.
Nigeria’s share of total U.S. crude imports also weakened. The country accounted for roughly 0.88 per cent of total U.S. crude imports in January, down from about 1.59 per cent in December, reflecting the sharp reduction in volumes.
Further analysis of U.S. trade data shows that crude oil remains the dominant component of Nigeria’s exports to the United States. Total U.S. imports from Nigeria stood at $183m in January 2026, compared to $297m in December 2025.
With crude oil imports valued at $115.99m (customs basis) and $118.95m on a CIF basis, crude accounted for approximately 63.4 per cent to 65.0 per cent of total U.S. imports from Nigeria in January. This compares with about 73.2 per cent in December on a customs basis, indicating a relative moderation in crude dominance as overall imports declined.
Newsmen further observed that the U.S. recorded a goods trade surplus of $419m with Nigeria in January, up from $84m in December. This was driven by a rise in U.S. exports to Nigeria, which increased from $381m to $602m, even as imports from Nigeria declined.
Across Africa, the U.S. posted a trade deficit of $503m in January, reversing a $174m surplus recorded in December. Total U.S. imports from Africa rose from $2.88bn to $3.54bn, while exports to the region edged slightly lower from $3.05bn to $3.04bn.
According to an earlier report that Nigeria accounted for about 52 per cent of Africa’s crude oil exports to the United States in 2025. According to the previous report, total U.S. crude imports from Africa stood at 89.371 million barrels in 2025, down from 103.631 million barrels in 2024, representing a decline of 14.26 million barrels or 13.8 per cent.
Of the 89.371 million barrels of crude imported from Africa in 2025, Nigeria supplied 46.618 million barrels, down from 50.793 million barrels in 2024—a year-on-year decline of 4.175 million barrels, or 8.2%.
Former Leicester City striker Jamie Vardy has shared an amusing anecdote about the unique injury treatment preferred by his Nigerian ex-teammates, Kelechi Iheanacho and Wilfred Ndidi.
Iheanacho and Ndidi became integral members of the Foxes squad after joining in 2017, playing a crucial role in the club’s historic 2021 FA Cup victory.
The duo shared a strong bond with Vardy during their time at the King Power Stadium, often engaging in light-hearted banter with their teammates.
Vardy, a Leicester City legend after 13 years with the club, departed last summer for Serie A side Cremonese. Iheanacho and Ndidi have also since moved on from the Foxes.
Speaking on a recent podcast, Vardy recounted how the Super Eagles stars had a peculiar remedy for minor injuries.
He explained that Iheanacho and Ndidi would insist on using a special “juju cream” brought back from Nigeria, refusing any other oils or balms offered by the club’s medical staff.
“They used to get injured, just little knocks, then they’d go back to Nigeria for one day literally, come back, and then they’ve got a nice big tub of juju cream,” Vardy said.
“That was the only thing that the masseuses were allowed to massage on the injured areas. They used to tell us that they used to get it from a Nigerian witch doctor.”
While Vardy’s story adds a humorous, if slightly controversial, layer to the players’ time at the club, the “juju cream” was likely part of a running joke.
Ndidi later clarified on social media that the substance was simply local shea butter, known as ‘ori’ in Nigeria.
Some aspirants loyal to Ondo State Governor Lucky Aiyedatiwa, who failed to secure the All Progressives Congress (APC) tickets in the recently concluded National Assembly primaries, have approached the court to challenge the outcome of the exercise.
The aggrieved aspirants are challenging the APC National Working Committee (NWC) and the Independent National Electoral Commission (INEC) over the results of the primaries and the list of candidates submitted by the party to the electoral body.
Report quoted sources within the party as saying the aspirants decided to seek judicial redress after expressing dissatisfaction with the outcome of the primaries.
The aspirants have reportedly engaged the services of the law firm of Remi Olatubora, SAN, to challenge the outcome of the exercise, the report also mentioned.
Those involved include Gbenga Elegbeleye (Ondo North Senatorial District), Dr Taiwo Fasoranti (Ondo Central Senatorial District), Leke Akingboye (Ilaje/Ese-Odo Federal Constituency), Rasaq Obe (Idanre/Ifedore Federal Constituency), Kayode Ijalana (Owo/Ose Federal Constituency), Oyerinmade Matthew (Ile-Oluji/Okeigbo/Odigbo Federal Constituency), and Olumuyiwa Daramola (Okitipupa/Irele Federal Constituency).
The legal action has reportedly generated concerns among some party stakeholders, who fear it could affect the APC’s preparations ahead of the 2027 general elections.
Human rights lawyer, Femi Falana, SAN, has slammed the Federal Government over its gifts of houses to judges.
Speaking at the Housing TV Africa on Thursday, Falana demanded the provision of the law that stipulated such a gesture.
He charged the Federal Government to also build houses for university professors and other civil and public servants, noting that what is good for the goose is equally good for the gander.
“”We have got to a stage in the country where we have to challenge the special privileges given to the rich and top public officers in the country.
“I was very sad when I saw that the Federal Government was handing over the keys of houses to judges, and I asked myself, ‘Under what law are we operating?’ Because it’s discriminatory and illegal.
“You treat everyone equally in our country. So you can’t take out judges. Judges are entitled to accommodation by the way. They must live comfortably and we’ll secured.
“But, other citizens must be equally provided for. If you don’t do it, you can be challenged, and that is going to happen very soon because what is good for the goose is good for the gander,” he said.
-
Health & Wellness11 months agoPresident Tinubu Directs Cut in Dialysis Cost from ₦50,000 to ₦12,000
-
News12 months agoPICTURE: In Lagos Couple Sentenced to 22½ Years for Cannabis Trafficking
-
Trending News11 months agoNELFUND Disburses ₦86bn To 449,000 Beneficiaries
-
Business4 months agoDangote Refinery Reduces Petrol Gantry Price To ₦1,200 Per Litre
-
International News4 months agoIndian Police Arrest Nigerian Over ₦290m Drug Haul
-
Business2 years agoHeritage Bank Customers’ Path to Securing ₦5m Insured Funds: A Step-By-Step Guide by NDIC”
-
Business4 months agoAfter Plea Bargain, Court Discharges Stella Oduah of ₦2.5bn Fraud
-
Business2 years ago
Dangote; We Did Not Fix ₦600/Litre Petrol Price