25 Banned Items: US May Ban More Products, Data Shows Top Imports from Nigeria in 2025
- There are fears that the US may ban certain items from Nigeria to the country as retaliation
- Recent data show that in the first two months of this year, the US imported about $643.1 million worth of goods from Nigeria
- The report indicated that crude oil and minerals accounted for over 64% of the US imports from Nigeria between January and February 2025
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Following the ban on 25 imported items from the United States of America to Nigeria, there are strong indications that Donald Trump’s government may retaliate by blacklisting more Nigerian products.
The development comes as the country imported about $643.1 million worth of goods from Nigeria between January and February 2025 before the implementation of the new tariffs by the Trump government.
Source: Getty Images
Trump slams tariffs on Nigeria’s products
The tariffs became effective on April 9, 2025, and have raised concerns about their effect on Nigeria’s trade.
However, oil and minerals are exempted from the tariff, which offers some respite to Nigeria as a key exporter.
According to data from the US International Trade Commission, Nigeria’s imports on a customs basis for February 2025 stood at $286.3 million, a decline from the $423.6 million recorded in the same month last year.
The figure marked a 32.4% drop per year as customs-based imports dipped from $951.6 million in 2024 to $643.1 million in 2025, a 32.4% drop.
Reports say on a Cost, Insurance, and Freight (CIF) basis, Nigeria’s imports for February 2025 were about $298.4 million, relative to $436.3 million in February 2024, a 31.6% drop.
The US imports from Nigeria increase
Yearly, CIF-based imports dropped from $979.6 million in 2024 to $666.3 million in 2025, showing a 32% dip.
The Customs-based import for US trade represents the value of goods at entry into point into the country, except costs on insurance and freight, while the CIF basis is the total value of goods, along with the insurance and shipping costs needed to deliver the products.
Despite the drop in imports, Nigeria’s trade balance on customs imports for February improved, increasing to $187.2 million from $77.3 million in February 2024.
The figure is a 142.2% uptick. Yearly, the trade balance moved from a deficit of $158.8 million in 2024 to a surplus of $44.3 million in 2025, marking a recovery of 127.9%.
The total trade between the US and Nigeria for the first two months of this year was at about $1.33 billion, including import and export values, indicating the trade relations between the two countries.
Punch reports that Nigeria’s exports on a domestic and foreign Free Alongside Ship (FAS) basis hit $473.6 million in February 2025, down from $501 million in February 2024, a 5.5% decline.
Nigeria and US record mixed trade figures
On a year-to-date basis, FAS-based exports dipped from $792.8 million in 2024 to $687.4 million, marking a 13.3% drop.
Checks show that the US recorded a trade deficit against Nigeria in February this year.
Information from the US Trade in Goods report revealed that the US had a deficit of $143 million in January but recorded a surplus of $187 million in February.
The report indicated that Nigeria’s exports to the US increased in February to $474 million relative to $214 million in January.
The was a marked increase of $121.5%. Yearly, Nigeria’s exports to the US hit $687 million in January, a 19.9% decrease.
The US recorded a deficit as imports from Nigeria surpassed exports. However, in February, increased exports and lower imports led to a surplus.
The US imported crude oil estimated at $413.57 million from Nigeria in the first two months of this year.
Crude oil contributed 64.31% of the total imports from Nigeria to the US, which stood at $666.3 million in the first two months of the year.
In February this year, the crude oil volume imported from Nigeria to the US was about 1.8 million barrels valued at $142.2 million.
The figure was a drop from January 2025, which was about 3.5 million barrels at $272.4 million.
Reports say the year-to-date customs value of crude oil imports from Nigeria was about $413.6 million as of February 2025.
The data disclosed that per month, the customs value of imports in February was lower than in January.
Total import of crude from Nigeria declines
The CIF value of crude imports from Nigeria to the US was about $146.2 million in February, relative to $278 million in January.
The aggregate CIF value for the first two months of 2025 stood at $424.4 million, with the monthly analysis showing a 47.4% drop in CIF value between January and February.
Source: Getty Images
Analysts say that while oil and mineral exports are exempted from Trump’s tariffs, agricultural goods may face increased competition and higher costs.
While oil and mineral exports remain exempted from the new tariffs, analysts have expressed concerns about the potential impact on other sectors.
Dangote Refinery exports fuel to the US
Legit.ng earlier reported that the Dangote refinery had exported 1.7 million barrels of jet fuel to the United States.
According to ship-tracking service Kpler, this shipment arrived at the United States ports on Monday.
Further data from Kpler indicates that another vessel, the Hafnia Andromeda, is scheduled to dock at the Everglades terminal by March 29, carrying approximately 348,000 barrels of jet fuel.
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Source: Legit.ng
