For the first time in history, the United States became a net exporter of crude oil to Nigeria in February and March 2025, according to data from the U.S. Energy Information Administration (EIA).
The development marks a significant shift in trade dynamics between both countries. The EIA attributed the change to reduced U.S. crude imports during refinery maintenance on the East Coast and increased Nigerian demand driven by the start-up of the Dangote Petroleum Refinery.
“In February and March 2025, the United States exported more crude oil to Nigeria than it imported from the country,” the EIA said in a statement released on Tuesday. “This marks the first time that the United States was a net crude oil exporter to Nigeria.”
Data from the agency showed that U.S. crude exports to Nigeria rose to 111,000 barrels per day (b/d) in February and further increased to 169,000 b/d in March. In contrast, U.S. imports from Nigeria dropped from 133,000 b/d in January to 54,000 b/d in February, before slightly rising to 72,000 b/d in March.
The EIA said the decline in U.S. imports was largely due to maintenance activities at the Phillips 66 Bayway refinery in New Jersey, which temporarily reduced the country’s demand for imported crude. At the same time, the newly commissioned Dangote refinery in Nigeria, which began operations in January, ramped up its crude intake, including imports from the United States.
As the Bayway refinery resumed normal operations in April and the Dangote refinery experienced unplanned maintenance between early April and mid-May, U.S. exports to Nigeria declined while imports from Nigeria increased during that period.
The EIA noted that the Dangote refinery is expected to reach its full processing capacity of 650,000 b/d this year. However, current reports indicate the facility is operating at around 550,000 b/d. The Nigerian National Petroleum Company (NNPC) currently supplies about 300,000 b/d to the refinery.
The agency observed that unless NNPC increases its supply, the Dangote refinery is likely to continue importing crude to meet its needs. It also pointed out that NNPC may prefer selling crude internationally, as revenues earned from sales to the Dangote refinery are denominated in naira, which has weakened significantly against the U.S. dollar.
“Naira depreciation gives NNPC an economic incentive to sell more crude oil on the international market,” the EIA said.
Nigeria’s overall crude oil production has also declined significantly over the years. From a peak of 2.4 million b/d in 2005, output has dropped to about 1.3 million b/d in 2024, limiting NNPC’s ability to increase domestic supply.
Historically, Nigeria was one of the largest suppliers of crude oil to the United States. Between 1973 and 2011, Nigeria ranked among the top five sources of U.S. crude imports. However, the rise of shale oil production in the U.S. led to a sharp reduction in imports from Nigeria and other traditional suppliers.
As of 2024, Nigeria ranked ninth among the U.S.’s crude oil import sources.
