Nigeria imported about 61.7 million barrels of crude oil from the United States between January 2024 and January 2026, exposing a growing supply gap in the local refining market despite the country’s status as a major oil exporter.
The trend reflects a major shift in Nigeria’s energy sector, with domestic refineries now sourcing foreign crude to sustain operations. Analysts say the start of large-scale refining activity, especially at Dangote Refinery, increased demand for feedstock that local producers have struggled to meet.
Imports rose sharply during the review period after years of minimal trade between both countries. Volumes gathered pace in 2025, with June recording the highest monthly inflow as shipments crossed 300,000 barrels per day. Activity slowed later in the year, then rebounded in January 2026.
The News Chronicle gathered that while imports increased, Nigeria still exported massive volumes of crude. Central Bank data showed the country shipped about 306.7 million barrels between January and October 2025, with additional exports continuing strongly into 2026.
This has reinforced concerns that too much domestic production remains tied to external buyers while local refiners compete for supply.
Industry sources estimate that the Dangote Refinery alone requires more than 19 million barrels per month to operate at optimal levels, necessitating supplemental imports from the U.S. and other producers.
Experts warn that unless Nigeria improves domestic crude allocation and strengthens supply planning, the country may continue to face costly inefficiencies, exporting large quantities of raw crude while importing crude to refine at home.
