Nigeria’s crude oil exports to the United States fell by 57.8 per cent in the first eight months of 2026 as the Dangote Petroleum Refinery increased its purchases of locally produced crude.
US Census Bureau trade data showed that American imports of Nigerian crude dropped to 14.01 million barrels between January and August 2026, from 33.23 million barrels recorded in the corresponding period of 2025.
The value of the shipments also declined by 49.8 per cent, from $2.5bn to $1.25bn.
The decline coincided with increased crude deliveries to the 700,000-barrel-per-day Dangote refinery in the Lekki Free Zone, Lagos, which has stepped up processing of Nigerian grades.
According to ship-tracking firm Kpler, crude deliveries to the facility reached a record 670,000 barrels per day in August, with Nigerian crude accounting for between 85 and 90 per cent of its feedstock.
Deliveries of Nigerian-origin crude averaged about 565,000 barrels per day during the month, almost double the 280,000-barrel daily average recorded in 2025.
Four industry sources also disclosed that the refinery purchased at least 16 million barrels of Nigerian crude for delivery in October.
The development marks a shift from 2025, when the refinery relied heavily on imported crude, with US grades accounting for about a third of its feedstock at one point.
The refinery increased its processing capacity from 650,000 to 700,000 barrels per day after completing maintenance in February.
Data from the Nigerian Upstream Petroleum Regulatory Commission showed that domestic crude deliveries to Nigerian refineries rose by 88 per cent to 53.7 million barrels in the second quarter, from 28.5 million barrels in the first quarter.
The Dangote refinery received approximately 52.6 million barrels, representing about 98 per cent of the total supply.
However, analysts said the refinery's increased demand was not the only factor behind the decline in US purchases.
Sanjana Shivdas, head of West Africa crude pricing at Argus Media, said weaker Nigerian export availability and unfavourable pricing conditions had also affected American demand.
She estimated that the price difference between Dated Brent, the benchmark for Nigerian crude, and US West Texas Intermediate widened to about $12 per barrel in 2026, compared with $4 in 2025, making Nigerian crude more expensive for US Gulf Coast refiners.
The figures do not establish how much of the crude previously destined for the US was redirected to the Dangote refinery.
Muda Yusuf, Chief Executive of the Centre for the Promotion of Private Enterprise, warned that Nigeria must maintain stable production and honour its forward-sale and loan commitments to avoid losing international buyers.
The shift in crude supply comes as the refinery prepares to expand its operations following a successful initial public offering that raised about ₦2.15tn.
The company offered 4.1 billion shares at ₦525 each, attracting orders worth about three times the amount sought from Nigerian investors. The allotment is expected in November ahead of its listing on the Nigerian Exchange.
Dangote Industries' Group Chief Financial Officer, Murat Erden, disclosed that the refinery generated $22.5bn in revenue and $5.52bn in earnings before interest, taxes, depreciation and amortisation in the first nine months of 2026.
Africa's richest man, Aliko Dangote, who owns about 87 per cent of the refinery, plans to use part of the IPO proceeds to support an expansion that will double its capacity to 1.4 million barrels per day by 2029.
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