Nigeria imported more than 42 million barrels of crude oil from the United States in the first 10 months of 2025, marking a sharp year-on-year increase, according to data from the US Energy Information Administration (EIA).
The data showed that between January and October 2025, Nigeria imported 42.13 million barrels of US crude, up from 15.79 million barrels recorded during the same period in 2024, representing an increase of about 167 per cent. The rise has been largely attributed to increased crude requirements by the Dangote Petroleum Refinery.
In contrast, crude imports in 2024 were relatively low and unstable, failing to exceed four million barrels and dropping to as little as 1.04 million barrels in June of that year.
Although Nigeria did not import US crude in January 2025, imports stood at 3.11 million barrels in February, slightly below the 3.61 million barrels recorded in February 2024. Imports, however, rose significantly to 5.25 million barrels in March 2025, compared to about 1.83 million barrels in March 2024.
The EIA data further showed that Nigeria imported 3.79 million barrels in May 2025, about 1.71 million barrels higher than the same period a year earlier, while June recorded a spike to 9.16 million barrels. Imports continued in July at 4.17 million barrels, slightly above July 2024 levels, and rose to 6.24 million barrels in August. September and October each recorded steady imports of 4.19 million barrels.
Analysts quoted by Petroleumprice.ng attributed the surge to Nigeria’s growing demand for imported crude to meet refinery feedstock needs, particularly as privately owned refineries expand operations. They noted that US light sweet crude has become a preferred option for complex refining processes, especially at the Dangote Refinery.
Commenting on the development, a petroleum economist, Prof. Wumi Iledare, said the sharp increase signals a structural shift with significant macroeconomic implications. He noted that the impact on the economy would depend on exchange rate stability, efficient domestic crude allocation and sustained refinery utilisation.
According to Iledare, while higher crude imports could support output, income and employment if managed well, failure to address domestic crude pricing and allocation challenges could deepen Nigeria’s dependence on imported feedstock, undermining long-term energy security.
