Nigeria earned $2.21bn from crude oil exports to the United States between January and July 2025, according to fresh data from the US Census Bureau and Bureau of Economic Analysis.
The country shipped 28.7 million barrels during the period, cementing its status as America’s largest African crude supplier, well ahead of Libya, Angola, and Ghana.
However, the figure marked an 8.8 per cent drop in export volume and a 22 per cent decline in earnings compared to the 31.5 million barrels worth $2.83bn exported in the same period of 2024.
June was the strongest month, with 6.95 million barrels shipped and valued at $496m on a Cost, Insurance and Freight (CIF) basis, but exports slumped in July to 4.4 million barrels worth $336m.
Other African producers trailed far behind: Libya earned $729.3m, Angola $426.6m, and Ghana $225.8m.
In total, African crude exports to the US stood at $3.82bn, with Nigeria accounting for more than half.
The decline in Nigeria’s US earnings reflects a wider slump in oil revenues.
Figures from the National Bureau of Statistics show crude exports for the first half of 2025 dropped to N24.92tn from N28.10tn a year earlier, a fall of N3.18tn or 11.3 per cent.
Crude oil’s share of total exports also shrank sharply, dropping nearly 19 percentage points year-on-year.
Analysts link the downturn to volatile global oil prices, stiff competition, infrastructural weaknesses, and reduced US dependence on imports due to shale production.
While industry players commend recent government efforts to curb oil theft and raise output, economists warn that Nigeria’s heavy reliance on crude earnings leaves its currency and public finances highly vulnerable.
For now, Nigeria remains Washington’s top African crude supplier, but its export performance hinges on oil price recovery, production stability, and shifting US energy demand.
