India, Netherlands, France Lead Nigeria’s Crude Oil Export Markets in Q1 2025
Nigeria’s crude oil export landscape witnessed notable changes in the first quarter of 2025, with India emerging as the country’s largest buyer of petroleum products, according to trade data released by the National Bureau of Statistics (NBS).
Between January and March 2025, India imported Nigerian crude worth approximately N1.41 trillion, surpassing traditional European buyers and reinforcing its long-standing energy relationship with Africa’s top oil producer.
Following India closely was the Netherlands, which received crude oil shipments valued at about N1.36 trillion. France ranked third, importing oil worth N1.28 trillion. These figures reflect a gradual diversification in Nigeria’s export destinations, with trade patterns influenced by global demand, refinery specifications, and geopolitical factors.
In contrast to 2024, when the United States topped Nigeria’s crude oil customer list with imports exceeding N3.6 trillion, the shift in 2025 signals a dynamic realignment in global oil trade. India’s dominance is attributed to its rapidly growing economy and substantial energy demand. Nigerian crude, prized for its low sulfur content and compatibility with Indian refineries, continues to be a favoured choice.
European nations maintained a strong presence in Nigeria’s export mix. Spain imported N990 billion worth of crude, securing its place among top importers. The Netherlands, known for being a strategic energy hub in northern Europe, and France, with its long-term purchase commitments, also continued their strong trade with Nigeria.
Outside of Europe and Asia, the United States imported N779 billion worth of Nigerian crude during the quarter. Although U.S. shale oil production has reduced dependence on foreign crude, Nigerian oil remains relevant for certain U.S. refineries, particularly those along the Gulf Coast.
Canada also made a significant entry into Nigeria’s top export destinations, ranking seventh with imports valued at N796.97 billion — nearly all of it in crude oil. Indonesia followed in fifth place, purchasing Nigerian crude worth N1.15 trillion, while Italy received N1.11 trillion in oil and N135.61 billion in non-oil goods, bringing total exports to Italy to N1.24 trillion.
On the African continent, South Africa was the only country to break into Nigeria’s top ten export destinations, importing crude worth N705 billion. Other regional partners such as Ivory Coast (N404 billion), Senegal (N328 billion), and Ghana (N50.5 billion) also contributed to Nigeria’s export revenue, highlighting the growing trend of intra-African energy trade aimed at reducing logistics costs.
In total, crude oil and related products brought in N12.96 trillion in export revenue in Q1 2025, representing nearly 63 percent of Nigeria’s total exports during the period.
Despite the impressive export figures, Nigeria continues to face serious output challenges. Average daily production stood at about 1.45 million barrels per day—significantly below the 2.06 million barrels per day target set in the 2025 federal budget. Factors such as oil theft, pipeline vandalism, and ageing infrastructure continue to hamper production capacity.
Nevertheless, the ongoing expansion of Nigeria’s oil customer base, especially within Africa, is seen as a positive development. As regional trade initiatives like the African Continental Free Trade Area (AfCFTA) gain traction, analysts believe Nigeria’s energy exports could benefit further.
The NBS report also noted that sea transport remained the dominant mode for Nigeria’s exports in Q1 2025, accounting for 98.85 percent of all exported goods.
