President Trump’s planned executive order and declaration of a national energy emergency, aimed at boosting U.S. oil and gas production, could affect Nigeria’s oil demand and revenue.
This comes as oil prices, including Nigeria’s Bonny Light, fell from $83 to $80 per barrel yesterday, with traders awaiting clarity on Trump’s policy agenda ahead of his inauguration.
The U.S. once relied heavily on Nigerian crude oil imports, but factors such as shale oil production and government policies have significantly reduced imports in recent years.
Despite this decline, recent data shows that U.S. oil and gas imports from Nigeria were valued at $4.73 billion in 2023.
However, experts predict that Nigeria’s revenue from oil exports to the U.S. could further decline in 2025 and beyond due to Trump’s energy policies.
……….
Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500