The United States reduced its purchase of Nigerian crude oil sharply in January 2026, with imports dropping by about 47.16 per cent 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.
