US Imports from Nigeria Hit $643.1m Ahead of Trump’s 2025 Tariff Implementation

By DAYO ADESULU

As the United States prepares to implement new tariffs under the Trump administration beginning April 9, 2025, US imports from Nigeria reached $643.1 million in the first two months of the year, signaling notable trade activity despite looming policy changes.

Oil and Minerals Exempt from US imports from Nigeria Tariffs

The new tariff regime has sparked anxiety over the possible impact on trade with African nations, including Nigeria. However, in a strategic relief, oil and mineral exports—Nigeria’s dominant trade items—are exempted from the new import taxes. This development cushions Nigeria’s major export sectors from immediate disruption.

Sharp Decline in Nigeria’s Exports to the US

According to fresh data from the United States International Trade Commission (USITC), US imports from Nigeria on a customs basis dropped by 32.4%—from $951.6 million in the first two months of 2024 to $643.1 million in 2025. In February 2025 alone, customs-based imports totaled $286.3 million, compared to $423.6 million in the same period last year.

On a Cost, Insurance, and Freight (CIF) basis, February imports stood at $298.4 million, down from $436.3 million in February 2024. The year-to-date CIF-based imports fell from $979.6 million to $666.3 million, marking a 32% decline.

The customs value reflects goods at entry points in the US, while CIF values include shipping and insurance costs.

Trade Balance Swings in Nigeria’s Favor

Despite the sharp decline in import figures, Nigeria recorded a significant improvement in trade balance. In February 2025, the trade surplus stood at $187.2 million—up from $77.3 million in February 2024, representing a rise of 142.2%.

On a year-to-date basis, the trade balance reversed from a deficit of $158.8 million in 2024 to a surplus of $44.3 million in 2025, indicating a 127.9% recovery.

US imports from Nigeria -Nigeria Total Trade Hits $1.33 Billion in Two Months

Total trade volume between the United States and Nigeria—combining exports and imports—reached approximately $1.33 billion within the first two months of 2025. This figure underscores the robust economic ties between both countries.

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However, exports from Nigeria on a Free Alongside Ship (FAS) basis experienced a slight dip. February exports dropped to $473.6 million from $501 million in February 2024, marking a 5.5% decrease. Year-to-date, exports declined from $792.8 million in 2024 to $687.4 million in 2025, a reduction of 13.3%.

Crude Oil Still Dominates Nigeria’s Export Portfolio

Despite the fluctuations, crude oil remains the bedrock of Nigeria’s exports to the United States. Data from the US Trade in Goods report shows that Nigeria exported $413.57 million worth of crude oil in January and February 2025, accounting for 64.31% of total US imports from Nigeria.

The total volume of crude shipped over the two months reached 5.3 million barrels. However, the month-on-month figures reveal a drop in both volume and value. February saw 1.8 million barrels valued at $142.2 million, down from January’s 3.5 million barrels worth $271.4 million. This translates to a 47.6% month-on-month decline.

In terms of CIF value, crude oil imports stood at $146.2 million in February 2025, down from $278.2 million in January. The cumulative CIF value was $424.4 million—also reflecting a 47.4% month-on-month decline.

Trump Tariffs Raise Concerns Over Nigeria’s Non-Oil Exports

While the US imports from Nigeria oil exports may remain unaffected by the Trump tariffs, analysts warn that Nigeria’s non-oil sectors—particularly agriculture and manufacturing—may suffer. These sectors had previously benefited from tariff-free access under the African Growth and Opportunity Act (AGOA). With new duties likely, Nigerian exporters may face reduced competitiveness and increased cost burdens.

Governor of the Central Bank and key economic stakeholders are now calling for enhanced regional trade within Africa to mitigate over-reliance on Western markets, especially amid shifting US trade policies.

Conclusion

The dynamics of US imports from Nigeria in early 2025 reveal a complex landscape of reduced trade volume, improving trade balance, and heavy reliance on crude oil. As the new US tariffs come into effect, stakeholders are closely monitoring their long-term impact on Nigeria’s economy and trade diversification efforts.

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