REVEALED: Nigeria Imports more US Crude than it Exports – Analyst

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Nigeria has made history by importing more crude oil from the United States than it exported in February and March 2025. According to the U.S. Energy Information Administration (EIA), this development is attributed to operational changes in Nigeria’s refining landscape and reduced crude demand on the U.S. East Coast.

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The rise in crude demand from the Dangote Refinery, which began processing oil in January 2024, is a major factor behind this shift. The refinery, located near Lagos, is on track to reach its full capacity of 650,000 barrels per day (b/d) later this year. Giovanni Staunovo, energy analyst at UBS, noted, “The new refinery in Nigeria and some issues in securing domestic supplies played a role for those unique flows earlier this year.”

The reversal was also partly due to refinery maintenance at the Phillips 66 Bayway facility in New Jersey, which slowed U.S. demand for imported crude. However, Staunovo added, “Going forward… it is difficult to forecast if the volume flowing from the U.S. to Nigeria will persist.” As the Dangote refinery undergoes further development, the dynamics of Nigeria’s crude oil imports and exports will be closely watched.

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