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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%.
Brazil superstar Neymar was handed a dramatic recall to the country’s World Cup squad on Monday, returning to the national team after a near three-year absence.
The inclusion of Neymar, Brazil’s all-time leading goalscorer with 79 goals in 128 appearances, was the biggest surprise in the 26-man squad named by coach Carlo Ancelotti.
Ancelotti announced Neymar’s selection at a gala ceremony in Rio de Janeiro, with loud cheers ringing out as the veteran attacker’s call-up was confirmed.
Speculation has raged for months over whether the 34-year-old former Barcelona and Paris Saint-Germain attacker would force his way back into the national team set-up.
The forward, a veteran of the 2014, 2018, and 2022 World Cups, had not played for Brazil since suffering a knee injury during a World Cup qualifying game against Uruguay in 2023.
A mixture of injuries and poor form had left him outside the national team setup, with Ancelotti citing concerns over his fitness after leaving him out of Brazil’s squad for March friendlies against France and Croatia.
However, Neymar, who rejoined boyhood club Santos in January after an injury-ravaged stint in Saudi Arabia, has now earned Ancelotti’s stamp of approval for the World Cup in the United States, Canada and Mexico.
Brazil, who are chasing a record sixth World Cup crown, open their World Cup campaign against Morocco on June 13 before playing Haiti and Scotland in Group C.
Brazil World Cup Squad
Goalkeepers: Alisson (Liverpool/ENG), Ederson (Fenerbahce/TUR), Weverton (Gremio/BRA)
Defenders
Alex Sandro (Flamengo/BRA), Danilo (Flamengo/BRA), Leo Pereira (Flamengo/BRA), Bremer (Juventus/ITA), Douglas Santos (Zenit St Petersburg/RUS), Gabriel Magalhães (Arsenal/ENG), Ibanez (Al-Ahli/KSA), Marquinhos (Paris Saint-Germain/FRA), Wesley (Roma/ITA)
Midfielders
Bruno Guimaraes (Newcastle/ENG), Casemiro (Manchester United/ENG), Danilo (Botafogo), Fabinho (Al-Ittihad/KSA), and Lucas Paqueta (Flamengo/BRA).
Forwards
Endrick (Lyon/FRA), Gabriel Martinelli (Arsenal/ENG), Igor Thiago (Brentford/ENG), Luiz Henrique (Zenit/RUS), Matheus Cunha (Manchester United/ENG), Neymar (Santos/BRA), Raphinha (Barcelona/ESP), Rayan (Bournemouth/ENG), Vinicius Junior (Real Madrid/ESP)
AFP
As the deadline of May 20, 2026, fast approaches, Wema Bank has announced the last call for submissions for children and teens interested in participating in becoming MD/CEO of Wema Bank for one day.
Launched in May 2025 as part of Wema Bank’s 80th anniversary celebration, the One-Day MD/CEO initiative was introduced by Wema Bank to commemorate Children’s Day in a uniquely unprecedented manner. Inspired by the Bank’s 80th anniversary theme “80 Years of Impact, A Future of Possibilities”, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
As 12-year-old Chiderije Mbah emerged winner, the Wema Bank One-Day MD/CEO initiative dominated the conversation on May 27, 2025, with children across Nigeria inspired to put in the work towards a successful future and parents commending the Bank’s consistent commitment to empowering children and helping them build the right future. This year, 2026, the Wema Bank One-Day MD/CEO initiative has returned on a larger scale.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of Managing Director/CEO of Wema Bank, for a day. The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges winner and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day.
Both parents and teens are encouraged to hurry and make their submissions now as entry closes in less than two days, specifically on Wednesday, May 20, 2026.
More details on the Bank’s social media platforms @wemabank
The United States Africa Command (AFRICOM) and Nigerian forces have carried out additional airstrikes against Islamic State in northeastern Nigeria.
The attack followed the killing of of ISIS commander Abu-Bilal al-Minuki, who was eliminated alongside some of his men, on Friday.
In a statement, AFRICOM said No U.S. or Nigerian forces were harmed during the strikes.
Commenting on the operation, the Defence Headquarters said more than 20 ISIS/ISWAP fighters were killed.
According to the Director of Defence Information, Major General Samaila Uba, the operation targeted terrorist hideouts in Metele area of northern Borno, a known flashpoint for insurgent attacks.
In a statement, he said the strikes were based on credible intelligence indicating the movement and convergence of terrorist elements in the area.
The Defence Headquarters explained that the latest offensive is part of sustained counterterrorism operations in the North-East, aimed at dismantling insurgent networks and denying them safe havens.
“The ongoing operations follow the neutralisation of ISIS commander Abu-Bilal al-Minuki and are part of sustained efforts to disrupt terrorist networks, remove them from the battlefield and deny the terrorists any safe haven within Nigeria,” the statement read.
The military further reaffirmed its commitment to defending Nigeria’s territorial integrity, stressing that insurgents will continue to face decisive action.
“The Armed Forces of Nigeria will continue to aggressively defend the sovereignty, security and territorial integrity of the nation. Terrorists who threaten our citizens, communities and national stability will be located and defeated. There will be no safe haven for terrorists anywhere in Nigeria,” it added.
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