New trade figures show that the United States spent about $578.78 million on crude oil from Nigeria in the first quarter of 2026, reflecting a decline compared to the same period in 2025.
Data from U.S. trade agencies indicate that this represents a reduction of roughly $102 million, or about 15 percent, from the $681.40 million recorded in the first three months of last year.
The drop was also seen in shipment volumes. Nigeria supplied about 7.84 million barrels of crude oil to the U.S. between January and March 2026, down from 8.44 million barrels in the same period of 2025.
Monthly movement showed a steep fall within the quarter. Imports were relatively strong in February but dropped sharply in March, pointing to weaker demand or supply adjustments during the period.
In value terms, the landed cost of Nigerian crude, which includes freight and insurance, fell from $345.33 million in February to $114.49 million in March.
Customs-based valuation also followed a similar trend, coming in lower year-on-year at $561.69 million in Q1 2026 compared to $663.79 million in Q1 2025.
Despite the decline, Nigeria remained a key African supplier to the U.S. oil market. However, its share of total African crude exports to the U.S. dropped significantly as other producers like Libya and Ghana increased their shipments.
Analysts link the reduction in imports to changing global oil demand patterns, price fluctuations, and shifts in supply chains affecting crude trade flows.
On the domestic side, Nigeria’s oil sector also faced production and export challenges during the period. Reports from the Nigerian National Petroleum Company Limited showed a fall in crude sales in March after earlier disruptions.
A major factor was a pipeline leak that temporarily affected output and limited crude evacuation from several oil fields.
Although production levels remained relatively stable month-on-month, operational and infrastructure issues continued to constrain exports.
The national oil company said it is implementing recovery measures aimed at restoring output stability and improving crude transportation efficiency across affected assets.
