Nigeria’s exports to the United States dropped by over 20% in the first quarter of 2025, according to a new report from the United States Census Bureau, highlighting challenges in the nation’s trade performance amid volatile global oil markets.
The data, published in the March 2025 edition of the US International Trade in Goods and Services report, showed that US imports from Nigeria fell to $1.118 billion in Q1 2025, down from $1.401 billion in the same period of 2024.
The decline was driven by sharp reductions in January and February, with February imports tumbling to $286 million from $424 million a year earlier.
A slight recovery in March, with imports rising to $475 million from $449 million in March 2024, was insufficient to offset the earlier losses.
Crude oil, a cornerstone of Nigeria’s exports, saw total Q1 2025 volumes reach 8.43 million barrels, valued at $663.8 million on a customs basis. In March alone, crude exports to the US were valued at $250.2 million (customs basis) or $257 million (CIF basis, including cost, insurance, and freight), signaling a modest month-on-month uptick but failing to lift the quarterly total above 2024 levels.
In contrast, Nigeria’s imports from the US surged, with US exports to Nigeria rising to $1.418 billion in Q1 2025 from $1.205 billion in Q1 2024.
This shift flipped the trade balance, resulting in a $300 million US trade surplus, compared to a $195 million surplus for Nigeria in the same period last year.
A key driver of US exports was motor vehicles and parts, with $99 million shipped to Nigeria in March 2025 alone, including $73 million in passenger cars, $7 million in trucks and specialty vehicles, and $20 million in parts.
Year-to-date, US vehicle exports to Nigeria totaled $231 million, with passenger cars accounting for $169 million.
The widening trade deficit and declining oil export earnings underscore Nigeria’s exposure to global oil market fluctuations, according to analysts.
The broader US trade deficit also grew to $140.5 billion in Q1 2025, fueled by rising imports of consumer and capital goods, as reported by the US Census Bureau and the Bureau of Economic Analysis.
