The United States sharply reduced purchases of Nigerian crude in January 2026, with imports falling 47.16% m/m to 1.664mn barrels from 3.149mn barrels in December, The Punch reports, citing data from the US Census Bureau and the Bureau of Economic Analysis.

In value terms, imports declined from $217.36mn to $115.99mn on a customs basis, while cost, insurance and freight (CIF) values fell from $223.10mn to $118.95mn. The gap between CIF and customs values narrowed to $2.96mn in January from $5.74mn in December, indicating lower transport and insurance costs over the period.

The drop coincided with a broader decline in US crude imports, which fell 5.1% m/m to 188.21mn barrels in January from 198.29mn barrels in December. Total import value also decreased, with customs value down from $11.41bn to $10.56bn and CIF value from $12.04bn to $11.15bn.

Within Africa, Nigeria lost market share as competing suppliers increased shipments, according to The Punch. Angola boosted exports to the US to 2.062mn barrels in January from 575,000 barrels in December, while Ghana entered the market with 738,000 barrels after recording no measurable exports in the prior month. By contrast, Libya saw exports fall to 1.086mn barrels from 2.137mn barrels.

Nigeria’s share of total US crude imports dropped to 0.88% in January from 1.59% in December, reflecting the sharp contraction in volumes.

Crude oil remained the dominant component of Nigeria’s exports to the US, accounting for roughly 63.4%–65.0% of total imports from Nigeria in January, compared with about 73.2% in December. Total US imports from Nigeria fell to $183mn from $297mn over the same period.

The US recorded a goods trade surplus of $419mn with Nigeria in January, up from $84mn in December, driven by a rise in US exports to Nigeria to $602mn from $381mn, even as imports declined.

Across Africa, the US posted a trade deficit of $503mn in January, reversing a $174mn surplus in December, as imports from the region increased to $3.54bn from $2.88bn while exports edged down to $3.04bn from $3.05bn, The Punch reported.

Over the full year, Nigeria remained the largest African supplier of crude to the US. Imports from Africa totalled 89.371mn barrels in 2025, down 13.8% y/y from 103.631mn barrels in 2024, with Nigeria accounting for 46.618mn barrels, or about 52% of the total.