The United States imported crude oil worth $578.78m from Nigeria in the first quarter of 2026, representing a decline from the $681.40m recorded during the same period in 2025, according to figures released by the U.S. Census Bureau and the Bureau of Economic Analysis.
The data, contained in the agencies’ March 2026 international trade report, showed that the value of Nigerian crude imported into the U.S. on a Cost, Insurance and Freight basis fell by $102.62m, or 15.06 per cent, year-on-year.
Despite the drop, Nigeria retained its place among Africa’s major crude oil suppliers to the American market amid changing global trade dynamics.
The report indicated that the U.S. imported 7.84 million barrels of Nigerian crude between January and March 2026, compared to 8.44 million barrels in the corresponding period of 2025. The figure represents a decline of 590,000 barrels, or 7.03 per cent.
On a monthly basis, imports declined significantly from 4.64 million barrels in February 2026 to 1.54 million barrels in March, suggesting weaker demand or supply-related adjustments during the period.
Similarly, the CIF value of Nigerian crude imports dropped from $345.33m in February to $114.49m in March 2026.
Customs value figures, which exclude freight and insurance costs, also reflected the downward trend. Nigerian crude imports were valued at $561.69m year-to-date in 2026, compared to $663.79m in the same period of 2025, marking a decline of $102.10m or 15.38 per cent.
Across Africa, total U.S. crude imports from the continent rose to $1.66bn in the first quarter of 2026 from $1.10bn recorded in 2025, indicating changing contributions from African exporters.
However, Nigeria’s share of Africa’s crude exports to the U.S. dropped to about 34.8 per cent in Q1 2026, compared to 61.7 per cent during the same period last year, amid growing competition from countries such as Libya and Ghana.
Despite the decline, Nigerian crude continued to maintain relevance in the American refining market due to the quality of its light sweet crude grades.
The U.S. report noted that the import figures reflected the total landed cost of crude oil, including freight and insurance charges, offering a broader picture of trade flows.
The latest figures also point to weaker U.S. demand for Nigerian crude in early 2026, influenced by global supply shifts, changing oil prices and evolving energy trade patterns.
Meanwhile, the latest monthly report released by Nigerian National Petroleum Company Limited showed that Nigeria’s crude oil sales fell sharply to 17.37 million barrels in March, down from 22.85 million barrels in February and 25.75 million barrels in January.
An analysis of the report further showed that crude oil production remained unchanged at 1.56 million barrels per day in March and February, but improved slightly from 1.51 million barrels per day in January.
NNPC attributed the production challenges to disruptions along the Trans Forcados Pipeline.
“The Trans Forcados Pipeline outage, resulting from a leak at the Keremor axis, negatively impacted production volumes, leading to curtailments across several assets from February 20 to March 25, alongside other operational challenges,” the company stated.
The national oil company, however, said it had begun implementing recovery measures aimed at improving output and resolving evacuation constraints.
“NNPC Limited continues to strengthen production resilience by executing restoration plans focused on improving asset reliability, resolving evacuation constraints, and implementing other targeted recovery initiatives,” it added.
The post US spends $578m on Nigerian crude imports in Q1 2026 appeared first on Primetimes.com.ng.
