BUSINESS INSIDER AFRICA
Despite challenges such as fluctuations in global oil prices, changing energy policies, and widespread oil theft, Nigeria’s crude oil has remained in high demand.
According to the latest figures from the NBS, the following countries were Nigeria’s largest crude oil buyers in 2024;
| Rank | Country | Purchase Amount (Naira/Trillion) |
|---|---|---|
| 1 | United States | 3.64 |
| 2 | France | 3.34 |
| 3 | Spain | 3.02 |
| 4 | Netherland | 2.77 |
| 5 | Italy | 2.64 |
| 6 | Canada | 2.56 |
| 7 | Indonesia | 2.02 |
| 8 | India | 1.57 |
| 9 | Ivory Coast | 1.57 |
| 10 | United Kingdom | 1.07 |
In the first nine months of 2024, the United States surpassed the Netherlands to become the top buyer of Nigerian crude, purchasing N3.64 trillion worth.
France followed in second place with N3.34 trillion in imports, driven by Nigerian oil’s compatibility with its refining infrastructure.
Spain ranked third with imports valued at N3.02 trillion, as part of its strategy to diversify energy sources and reduce reliance on the Middle East.
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