Nigeria’s export to US hits $214m in Jan, Feb/$474m, More Figures Revealed

Bilateral trade between the United States and Nigeria reached $1.33 billion in the initial two months of 2025, according to official statistics, highlighting the robust nature of US-Nigeria trade amidst the ongoing global trade conflict. This figure indicates a strong trading relationship prior to the implementation of a 14% tariff on Nigerian imports by President Donald Trump. Data sourced from the United States Trade in Goods report and the United States International Trade Commission (USITC) reflects a vigorous beginning for US-Nigeria trade in 2025.

Specifically, the US imported an impressive $643.1 million in goods from Nigeria during this period. However, the USITC’s official data revealed that customs-based imports from Nigeria in February 2025 amounted to $286.3 million, representing a 32.4% decline from $423.6 million in February 2024. Year-to-date figures show a decrease in imports from $951.6 million in 2024 to $643.1 million in 2025, also a 32.4% drop. When assessed on a Cost, Insurance, and Freight (CIF) basis, which accounts for shipping and insurance expenses, imports decreased from $979.6 million in 2024 to $666.3 million in 2025, marking a 32% reduction.

Despite this decline, Nigeria’s trade balance with the US demonstrated resilience, with the customs-based trade balance for February 2025 improving by 142.2%, increasing to $187.2 million from $77.3 million in February 2024. Year-to-date, the trade balance shifted from a $158.8 million deficit in 2024 to a $44.3 million surplus in 2025, reflecting a recovery of 127.9%.

In February 2025, Nigeria’s exports on a Free Alongside Ship basis amounted to $473.6 million, reflecting a 5.5% decrease from $501 million in February 2024. Cumulatively, year-to-date exports also saw a decline, dropping from $792.8 million in 2024 to $687.4 million in 2025, which represents a 13.3% reduction.

Additionally, the United States recorded a trade deficit of $143 million with Nigeria in January 2025, as reported in the US Trade in Goods report. However, February saw a shift, with the US achieving a surplus of $187 million, leading to a year-to-date surplus of $44 million. Notably, Nigeria’s exports to the US surged in February, reaching $474 million, a significant increase from $214 million in January, marking a rise of 121.5%.

On a year-to-date basis, Nigeria’s exports to the US totaled $687 million, indicating a robust recovery following a sluggish start to the year. Conversely, US imports from Nigeria experienced a decline, with February’s imports valued at $286 million, down 19.9% from January’s $357 million. Year-to-date imports totaled $643 million, reflecting a decrease in volume compared to the previous month. Furthermore, data from the United States Trade in Goods report revealed that the US imported crude oil worth $413.57 million from Nigeria during the first two months of 2025, with a total volume of 5.3 million barrels. Crude oil constituted approximately 64.31% of the total imports from Nigeria to the US, which amounted to $666.3 million in the initial two months of the year, underscoring the critical importance of crude oil in Nigeria’s export landscape to the US.

In February 2025, the United States imported 1.8 million barrels of crude oil from Nigeria, amounting to a value of $142.2 million. This represented a notable decline from January 2025, when imports reached 3.5 million barrels valued at $271.4 million. The data indicated a month-on-month decrease of 47.6 percent in the value of crude oil imports. As of February 2025, the cumulative customs value of crude oil imports from Nigeria totaled $413.6 million. The figures reveal that the customs value for February was significantly lower than that of January. The cost, including freight and insurance (C.I.F.), for crude oil imports from Nigeria to the U.S. was $146.2 million in February, in contrast to $278.2 million in January, resulting in a month-on-month decline of 47.4 percent in C.I.F. value. Although oil and mineral exports are exempt from the new tariffs, analysts have raised concerns regarding the potential repercussions for other sectors.

This situation follows the Nigerian government’s announcement of its intention to consult with the U.S. and the World Trade Organization (WTO) regarding the effects of a newly implemented 14% tariff on Nigerian exports by the U.S. administration. Instituted under the trade policy of the Trump administration, this tariff has raised alarms about its capacity to disrupt the $10 billion annual trade relationship between the U.S. and Nigeria. Dr. Jumoke Oduwole, Nigeria’s Minister of Industry,

Trade, and Investment, stated that the government is actively seeking to alleviate the tariff’s effects while also diversifying its export markets. She emphasized the commitment to fostering a robust and resilient economy in the face of global trade challenges, highlighting efforts to enhance intra-African trade through the African Continental Free Trade Area (AfCFTA).