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%.
As the world celebrate this year’s World Environment Day today,the Ogun State Waste Management Authority OGWAMA as urged residents of the States to keep their environment clean and stop indiscriminate dumping of waste in public places and imbibe proper waste disposal.
Special Adviser to the Governor and Managing Director of the Ogun State Management Authority OGWAMA, Honorable Farouk Akintunde stated this in a statement to mark the 2026 World Environment Day.
He said indiscriminate dumping of waste in public and unauthorized places breeds untidy, unhealthy environment which are inimical to public safety and retard economic growth of the society.
Akintunde also advised them to imbibe proper waste disposal by patronizing Waste PSP assigned to their immediate community for proper waste disposal for just a token instead of them to use the cover of the night to dump them in discriminately on the median,roadsides and public places which he says deface the aesthetic beauty of the State.
“Ogun state residents are known as clean and fun-loving people.We should not allow few of us to dent our pride through their untoward attitudes and behaviors,so when we see them dumping indiscriminately in our environment we should say something”
“We will on our part continue to do our best in terms of proper waste management through sensitization and advocacy as we urge all residents to containerize their waste for easy collection by government accredited PSP”
”For industries domiciled in the state, let me remind them of the need to allow government accredited PSP assigned to them to perform their statutory duties instead of patronizing illegal PSP which will attract sanction when they are caught by our enforcement team as OGWAMA will not allow them to turn the state to dumpsites for illegal industrial waste some of which are not environmentally friendly” Akintunde added.
He did not forget to remind all residents of the State that Ogun State Waste Management Authority will step-up it enforcement activities in all nooks and crannies of the state to maintain a clean,safe and healthy environment .
June 5th, Transfermarkt updated. The new market values of Barcelona players. Three players increased and nine decreased, with Raphinha dropping by 10 million to 70 million euros.
Increase (Euros)
Joan-Garcia increased by 5 million to 45 million
Eric-Garcia increased by 5 million to 40 million
Gerard-Martin increased by 10 million to 35 million
Decrease (Euros)
Raphinha decreased by 10 million to 70 million
Kounde decreased by 5 million to 60 million
Balde decreased by 5 million to 50 million
De Jong decreased by 10 million to 35 million
Casado decreased by 2 million to 18 million
Christensen decreased by 1 million to 8 million
Cancelo decreased by 1 million to 8 million
Lewandowski decreased by 1 million to 7 million
Szczesny decreased by 100,000 to 800,000
Unchanged (Euros)
Yamal 200 million
Pedri 150 million
Fermin 100 million
Cubarsi 80 million
Olmo 60 million
Ferran Torres 50 million
Rashford 40 million
Gavi 30 million
Bernal 30 million
Araujo 20 million
Bardghji 15 million
Singer Niniola Apata has opened up about her late husband, Michael Ndika, and the central role he played in her music career and personal life.
Speaking in a video at a gathering held in his honour, Niniola recounted how their relationship shaped her growth as an artist and as a person.
Ndika, CEO of African music platform NaijaReview, died on May 19, 2026 at 44.
She said he was her strongest supporter from day one even when she considered stepping away from music, he pushed her to continue.
According to her, Ndika believed in her talent and vowed to make her a star.
Niniola described their bond as inseparable, stressing how he was part of her daily routine and her main source of emotional support. Since his death, she said, her life has changed completely.
She thanked his family for embracing her and admitted that coping with the loss has been hard.
Reflecting on their marriage, she called it a love story.
She said Ndika gave her everything and lived for her and while she was the face and voice of her brand, he was the engine behind it.
She said: “My story with Michael is a love story. Michael did everything for me. Everything was for me, he was breathing for me. He loved me, I loved him so much. And I learned so much from Michael. But Michael met me raw, and he said, I’ll make you a superstar.’ And he did. I was just the face and the voice, but Michael was the engine.
“Even when I decided to, you know, give music a break, he didn’t let it. The first person I saw in the morning was Michael. And the last person who closed my eyes at night was Michael. So now what do I do? Tell me, what do I do? Michael was the best thing, the best person that ever happened to me.”
-
Health & Wellness10 months agoPresident Tinubu Directs Cut in Dialysis Cost from ₦50,000 to ₦12,000
-
News10 months agoPICTURE: In Lagos Couple Sentenced to 22½ Years for Cannabis Trafficking
-
Trending News10 months agoNELFUND Disburses ₦86bn To 449,000 Beneficiaries
-
Business2 months agoDangote Refinery Reduces Petrol Gantry Price To ₦1,200 Per Litre
-
International News2 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”
-
Business2 months agoAfter Plea Bargain, Court Discharges Stella Oduah of ₦2.5bn Fraud
-
Business2 years ago
Dangote; We Did Not Fix ₦600/Litre Petrol Price