• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, October 21, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Nigeria’s Oil Earnings From US Face Sharp Decline

Lawrence Ankutseby Lawrence Ankutse
September 21, 2025
Reading Time: 3 mins read
Lawrence Ankutseby Lawrence Ankutse
in Africa
0
Nigeria’s Oil Earnings From US Face Sharp Decline

Nigeria’s crude oil trade with the United States slipped in the first seven months of 2025, revealing both its continuing importance as America’s top African supplier and the fragility of its earnings.

New figures from the US Census Bureau and the Bureau of Economic Analysis show that Nigeria earned $2.21 billion from crude exports to Washington between January and July 2025. That came from 28.7 million barrels shipped across the Atlantic, cementing Nigeria’s position as the single largest African supplier ahead of Libya, Angola, and Ghana.

On a customs basis, which calculates value at the point of export, Nigeria’s crude fetched $2.16 billion. But when shipping and insurance costs were factored in under Cost, Insurance, and Freight (C.I.F.) pricing, the total rose to $2.21 billion. The difference underscores the significant logistical expenses of transporting oil to one of its largest global markets.

RelatedPosts

Madagascar Swears In Colonel Michael Randrianirina As President

State Funeral Held For Kenya’s Raila Odinga

Military Leader To Be Sworn In As Madagascar’s President

While still leading Africa’s crude supply to the United States, the numbers show a marked year-on-year decline. During the same seven-month stretch in 2024, Nigeria exported 31.5 million barrels valued at $2.78 billion on a customs basis and $2.83 billion under C.I.F. calculations.

The 2025 performance reflects an 8.8 percent drop in shipment volume and an even steeper 22 percent fall in dollar value, a sign of weaker crude prices and unstable demand patterns.

Monthly data also paints a volatile picture. June 2025 brought some relief, as Nigeria shipped 6.95 million barrels, worth $484 million on a customs basis and $496 million under C.I.F. terms. But in July, the volume dropped to just 4.4 million barrels, with corresponding values of $328 million and $336 million. The steep month-on-month decline reignited concerns over whether Nigeria can sustain consistent crude exports in a challenging market environment.

ADVERTISEMENT

Other African suppliers recorded far smaller volumes and revenues in comparison. Between January and July 2025, Libya earned $729.3 million from sales to the United States, Angola $426.6 million, and Ghana $225.8 million. Collectively, African crude exports to America amounted to $3.82 billion during this period, more than half of which came from Nigeria alone.

The figures emphasize Nigeria’s central role in Africa’s oil trade with the United States, even as its own export earnings falter. Analysts warn that the sharp decline in revenues exposes Nigeria’s vulnerability to external shocks in oil prices and global demand.

Oil Decline Adds Fiscal Pressure

The strain on Nigeria’s oil exports is also reflected in domestic trade statistics. Data from the National Bureau of Statistics (NBS) showed that total crude oil exports fell by N3.18 trillion in the first half of 2025 compared with the same period in 2024, despite production levels improving.

According to the NBS, crude exports were valued at N24.92 trillion between January and June 2025, down from N28.10 trillion in the first half of 2024. The fall represented an 11.3 percent year-on-year decline.

The steepest drop occurred in the first quarter of 2025, when exports totaled N12.96 trillion, compared with N15.49 trillion in Q1 2024. This N2.53 trillion shortfall translated to a 16.3 per cent decline. The second quarter showed a smaller but still significant dip, falling from N12.61 trillion in Q2 2024 to N11.97 trillion in Q2 2025, a 5.1 percent contraction.

Equally striking is the falling contribution of crude oil to Nigeria’s overall exports. In Q1 2024, crude oil accounted for 80.8 percent of total exports. By Q1 2025, this had slid to 62.9 percent, nearly 18 percentage points lower.

The downward trend extended into the next quarter, with crude making up 52.6 per cent of exports in Q2 2025, compared with 71.2 percent in Q2 2024, a loss of 18.6 percentage points.

The combined data underscores the mounting fiscal pressure Nigeria faces as crude oil revenues shrink. While still vital to the country’s economic stability and foreign reserves, oil’s diminishing share in both earnings and exports highlights the urgency for diversification.

READ ALSO: Prof. Asare Calls For Support To ORAL

Tags: NBS trade reportNigeria economyNigeria oil exportsoil revenue declineUS crude imports
Please login to join discussion
Previous Post

President Mahama Leads Ghana Delegation to UN 80th General Assembly

Next Post

Cardi B Addresses Ghostwriting Accusations Over Her New Album

Subscription Form

Related Posts

Madagascar Swears In Colonel Michael Randrianirina As President
Africa

Madagascar Swears In Colonel Michael Randrianirina As President

October 17, 2025
Kenyan opposition leader Raila Odinga.
Africa

State Funeral Held For Kenya’s Raila Odinga

October 17, 2025
Military Leader To Be Sworn In As Madagascar’s President
Africa

Military Leader To Be Sworn In As Madagascar’s President

October 17, 2025
Kenyan opposition leader Raila Odinga.
Africa

Kenya’s Raila Odinga Dies Of Heart Attack

October 15, 2025
Rajoelina Dissolves Madagascar’s National Assembly
Africa

Rajoelina Dissolves Madagascar’s National Assembly

October 16, 2025
Cameroon Goes To The Polls
Africa

Cameroon Goes To The Polls

October 13, 2025
US President, Donald Trump and Australian Prime Minister, Anthony Albanese sign rare earth deal.
USA

US, Australia Ink Rare Earth Mineral Deal

by Comfort AmpomaaOctober 20, 2025
Trade Minister Champions Investment and Digital Focus at UNCTAD XVI, Geneva 
Vaultz Business

Trade Minister Champions Investment and Digital Focus at UNCTAD XVI, Geneva 

by Silas Kafui AssemOctober 20, 2025
No Bad Blood Between OSP and AG’s Office – Sammy Darko Confirms Ofori-Atta’s Docket Nears Submission for Extradition
General News

No Bad Blood Between OSP and AG’s Office – Sammy Darko Confirms Ofori-Atta’s Docket Nears Submission for Extradition

by Emmanuel Tibila BoasahOctober 20, 2025
Dr Justice Srem Sai, Deputy Attorney General and Minister for Justice
General News

AG’s Office Awaits OSP’s Docket to Trigger Ofori-Atta’s Extradition — Deputy Attorney-General

by evansjrOctober 20, 2025
Africa’s Digital Revolution Hinges on Cross-Border Interoperability – Telecom Chamber Boss Declares
Vaultz Business

Africa’s Digital Revolution Hinges on Cross-Border Interoperability – Telecom Chamber Boss Declares

by M.COctober 20, 2025
20% Appreciation of the Cedi Will Hurt the Totality of the Economy, Economist Cautions
Economy

20% Appreciation of the Cedi Will Hurt the Totality of the Economy, Economist Cautions

by Michael Teye-Bio NaduteyOctober 20, 2025
US President, Donald Trump and Australian Prime Minister, Anthony Albanese sign rare earth deal.
Trade Minister Champions Investment and Digital Focus at UNCTAD XVI, Geneva 
No Bad Blood Between OSP and AG’s Office – Sammy Darko Confirms Ofori-Atta’s Docket Nears Submission for Extradition
Dr Justice Srem Sai, Deputy Attorney General and Minister for Justice
Africa’s Digital Revolution Hinges on Cross-Border Interoperability – Telecom Chamber Boss Declares
20% Appreciation of the Cedi Will Hurt the Totality of the Economy, Economist Cautions

Recent News

US President, Donald Trump and Australian Prime Minister, Anthony Albanese sign rare earth deal.

US, Australia Ink Rare Earth Mineral Deal

October 20, 2025
Trade Minister Champions Investment and Digital Focus at UNCTAD XVI, Geneva 

Trade Minister Champions Investment and Digital Focus at UNCTAD XVI, Geneva 

October 20, 2025
No Bad Blood Between OSP and AG’s Office – Sammy Darko Confirms Ofori-Atta’s Docket Nears Submission for Extradition

No Bad Blood Between OSP and AG’s Office – Sammy Darko Confirms Ofori-Atta’s Docket Nears Submission for Extradition

October 20, 2025
Dr Justice Srem Sai, Deputy Attorney General and Minister for Justice

AG’s Office Awaits OSP’s Docket to Trigger Ofori-Atta’s Extradition — Deputy Attorney-General

October 20, 2025
Africa’s Digital Revolution Hinges on Cross-Border Interoperability – Telecom Chamber Boss Declares

Africa’s Digital Revolution Hinges on Cross-Border Interoperability – Telecom Chamber Boss Declares

October 20, 2025
20% Appreciation of the Cedi Will Hurt the Totality of the Economy, Economist Cautions

20% Appreciation of the Cedi Will Hurt the Totality of the Economy, Economist Cautions

October 20, 2025
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address