APC chieftain and President of Belemaoil Producing Limited, Tein Jack-Rich, has called for stronger trade and investment relations between Nigeria and the United States, as new data reveal a sharp increase in Nigeria's crude oil imports from the US over the past two years.
Meeting with Roger Stone
Jack-Rich made the call after meeting with US political strategist Roger Stone in Florida, where both parties discussed ways to strengthen bilateral economic cooperation. The discussions focused on expanding trade flows, particularly in energy, agriculture, and infrastructure.
He emphasized the need for sustained engagement between private sector players and policymakers to address supply gaps and deepen economic partnerships that would benefit both nations.
“Speaking positively about Nigeria and advancing trade opportunities between the United States and Nigeria remains a vital call to action for the benefit of both our peoples,” Jack-Rich said. He described the meeting as featuring “graciousness, meaningful conversations, and an atmosphere of genuine friendship and respect.”
Rising Crude Imports from the US
The development comes amid figures showing that Nigeria imported about 61.7 million barrels of crude oil from the United States between January 2024 and January 2026, according to data from the US Energy Information Administration (EIA).
These imports mark a significant shift in trade flows, as American crude has increasingly entered the Nigerian market following a long period of minimal transactions. The trend has been linked partly to domestic supply constraints and increased demand from local refineries, including the Dangote Refinery, which requires substantial crude feedstock to maintain operations.
Ongoing Imbalance in Oil Supply Chain
Despite being a major crude exporter, Nigeria continues to ship significantly larger volumes abroad, highlighting an ongoing imbalance in its oil supply chain. Data from the Central Bank of Nigeria (CBN) show that the country exported about 306.7 million barrels of crude between January and October 2025 alone, underscoring the scale of external sales compared to domestic retention.
