Post #209

🇳🇬US Pours Oil On Nigeria's Troubled Water In between accusations of genocide, the Americans sell record volumes of oil to Nigeria 🌐 Crude shipments from the United States to Nigeria in the first 8 months of 2025 more than doubled compared with a year earlier. 🔸 Even though it remains a major producer itself, between February and August Nigeria imported 31.69 million barrels, compared to 15.79 million barrels in the same period of 2024. ⏩For a country which itself produces around 1.7 million barrels of crude each day, rising crude imports show that the process of local processing build-up is not linear. 🔸Nigeria still suffers from disruptions of local upstream supply chains. In late September 2025 Nigeria's flagship Dangote Refinery partly stopped selling petrol due to crude supply constraints on the part of the state-run NNPC oil corporation. On the top of this, recenlty Nigeria's Senate ad hoc committee has reported a disappearance of about $300 billion in crude proceeds since 2015. 🔸 Another source of supply shortage is oil exports, which remain more profitable for traders and producers than selling on the domestic market due to trading in dollars rather than in naira. Currently Nigeria is moving through a difficult transition in which it needs to navigate and somehow reconcile elite interests, market mechanisms and the goals of national development. Devils Below