Goods worth approximately $643.1 million were imported by the United States from Nigeria during the first two months of 2025. The announcement comes shortly before the April 9 enforcement date of a new tariff regime introduced by the U.S. government under President Donald Trump.
Despite the upcoming tariffs, crude oil and mineral resources—Nigeria’s major export commodities—remain excluded from the new charges. This decision provides some assurance for Nigerian exporters who rely heavily on these sectors.
According to data from the United States International Trade Commission, in February 2025 alone, U.S. imports from Nigeria on a customs value basis were $286.3 million, compared to $423.6 million in February 2024.
This shows a notable drop of 32.4 percent year-on-year. On a Cost, Insurance, and Freight (CIF) basis, imports from Nigeria fell from $436.3 million in February 2024 to $298.4 million in February 2025, a decline of 31.6 percent.
Over the two-month period, the CIF-based value totaled $666.3 million in 2025, down from $979.6 million during the same time in 2024. This suggests a 32 percent decrease, reinforcing the trend of reduced import volumes.
However, the drop in imports appears to have had a positive effect on the trade balance. The U.S. recorded a surplus of $187.2 million in February 2025, significantly higher than the $77.3 million surplus recorded in February 2024. For the year so far, the trade balance shifted from a $158.8 million deficit in 2024 to a $44.3 million surplus in 2025.
Overall trade between the two nations during January and February 2025 reached $1.33 billion, reflecting strong commercial engagement. However, Nigeria’s exports to the U.S. have experienced a slight decline. In February 2025, exports stood at $473.6 million, compared to $501 million in February 2024—a 5.5 percent drop. On a year-to-date basis, Nigerian exports fell from $792.8 million in 2024 to $687.4 million in 2025.
Interestingly, U.S. purchases of Nigerian crude oil remain a major part of this trade, totaling 5.3 million barrels over January and February 2025. The total value of these oil imports was $413.57 million, accounting for about 64 percent of total U.S. imports from Nigeria.
A notable decline was observed between January and February in crude oil imports: 3.5 million barrels worth $271.4 million in January dropped to 1.8 million barrels worth $142.2 million in February.
The Nigerian government is monitoring the global situation closely. Minister of Finance Wale Edun recently stated, “Nigeria’s exports to the US were N1.8tn, N2.6tn and N5.5tn in 2022-2024, respectively. Fortunately, oil and mineral exports accounted for 92 per cent, implying oil and mineral exports amounted to N5.08tn in value, while non-oil was just N0.44tn. Consequently, the tariff effect on exports is negligible if we sustain our oil and minerals export volume.”
Nonetheless, there is concern for non-oil sectors such as agriculture and manufacturing, especially as the new 14 percent tariff may affect exports previously supported by the African Growth and Opportunity Act (AGOA). Analysts note that the added costs could make Nigerian products less competitive in the U.S. market.
According to the National Bureau of Statistics, Nigeria’s total trade with the U.S. reached N31.1 trillion between 2015 and 2024, with a trade surplus of N1.64 trillion.
