Nigeria has, for the primary time, imported extra crude oil from america than it exported, marking a historic reversal in petroleum movement between the 2 nations.
In line with the U.S. Vitality Data Administration (EIA), this improvement occurred in February and March 2025, pushed by operational adjustments inside Nigeria’s refining panorama and diminished crude demand on the U.S. East Coast.
The shift is attributed primarily to the rise in crude demand from the Dangote Refinery, which started processing oil in January 2024 and is on observe to succeed in its full capability of 650,000 barrels per day (b/d) later this 12 months.
Positioned close to Lagos, the ability is the biggest single-train refinery on this planet and represents a key element of Nigeria’s bid to cut back its reliance on imported refined fuels.
In line with the EIA’s newest figures:
This reversal was partly resulting from refinery upkeep on the Phillips 66 Bayway facility in New Jersey, which slowed U.S. demand for imported crude. Later within the 12 months, imports of Nigerian crude resumed as Bayway returned to regular operations and the Dangote refinery underwent unplanned upkeep.
“The brand new refinery in Nigeria and a few points in securing home provides performed a job for these distinctive flows earlier this 12 months,” stated Giovanni Staunovo, vitality analyst at UBS.
“Going ahead… it’s troublesome to forecast if the amount flowing from the U.S. to Nigeria will persist.”
Talking on the West African Refined Gasoline Convention in Abuja, Aliko Dangote, President/CEO of Dangote Group, confirmed that his refinery sources 9–10 million barrels month-to-month from the U.S. and different suppliers.
Sarcastically, he famous, a few of this crude is bought from worldwide merchants who purchase Nigerian crude at a premium, solely to promote it again, highlighting inefficiencies in Africa’s vitality worth chain.
“We produce loads of crude, however we nonetheless import over 120 million tonnes of refined merchandise yearly,” Dangote said.
“That’s a $90 billion market alternative captured by international locations with surplus refining capability, whereas we export jobs and import poverty.”
Dangote decried the substandard high quality of fuels usually exported to African markets, urging a shift towards home refining, high quality management, and regional self-sufficiency in vitality.
