Nigeria earned $2.21bn from crude oil sales to the United States in the first seven months of 2025, according to fresh data from the U.S. Census Bureau and the Bureau of Economic Analysis.
The revenue came from the export of 28.7 million barrels of crude, keeping Nigeria firmly ahead of other African suppliers such as Libya, Angola, and Ghana. Despite this lead, the figures show a decline compared to the same period in 2024, when Nigeria shipped 31.5 million barrels worth $2.83bn.
This year’s exports represent an 8.8 per cent drop in volume and a 22 per cent decline in dollar value, reflecting weaker global oil prices as well as reduced shipments.
Monthly performance also showed sharp swings. In June, Nigeria posted one of its strongest months, sending 6.95 million barrels worth almost half a billion dollars. But in July, exports dropped to 4.4 million barrels, with earnings slipping to $336m on a Cost, Insurance and Freight basis.
Nigeria’s dominance was evident when compared with other African crude exporters to the U.S. During the same period, Libya earned $729m, Angola $427m, and Ghana $226m. Overall, African oil supplies to the U.S. reached $3.82bn, with Nigeria contributing more than half.
Back home, the National Bureau of Statistics reported that crude exports fell by N3.18tn in the first half of 2025 despite higher production. The share of oil in Nigeria’s total exports has also been shrinking, dropping from 80.8 per cent in Q1 2024 to just 52.6 per cent in Q2 2025.
Analysts blame the decline on fluctuating international oil prices, competition from other suppliers, and long-standing challenges such as theft and vandalism of pipelines. They also point to reduced U.S. reliance on foreign crude, thanks to its growing shale industry.
Still, industry players have praised the government for ramping up domestic production, noting that efforts to tackle oil theft have helped boost output. But economists warn that the country’s heavy reliance on oil revenue poses risks, with falling export receipts likely to further weaken the naira and strain public finances.
Looking ahead, Nigeria’s crude earnings will hinge on global oil prices, domestic production stability, and U.S. demand. For now, however, the country remains the United States’ number one source of African crude.
