The Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757 billion, surpassing shipments from the United States and other suppliers.
According to a market report by S&P Global Commodity Insights, Nigerian jet fuel exports to Europe reached their highest level since the country became a net exporter of aviation fuel in 2024, following the start of production at the Dangote refinery.
The report said exports from Nigeria to Europe increased from 232,000 metric tonnes in May to 466,000 metric tonnes in June, equivalent to about 582.5 million litres of jet fuel. At an estimated domestic value of N1,300 per litre, the shipment is worth approximately N757.25 billion.
Meanwhile, jet fuel exports from the United States to Europe declined sharply, falling from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May, and further to 399,000 metric tonnes in June, making Nigeria Europe’s larger supplier during the month.
A trader quoted in the report attributed the oversupply in Europe to increased exports from both Dangote and the United States, alongside resumed shipments through the Suez Canal from the United Arab Emirates.
The report noted that European jet fuel prices have fallen significantly after reaching record highs during the Middle East conflict, as the market now expects an oversupply amid weaker-than-anticipated summer travel demand.
Data from Platts, part of S&P Global Commodity Insights, showed that the Northwest Europe jet fuel cargo assessment for July dropped from an all-time high of $1,694.25 per metric tonne in March to $981.75 per metric tonne by the end of June.
Despite the current oversupply, traders believe market conditions could tighten if disruptions in the Strait of Hormuz persist or if stronger summer travel demand boosts consumption.
Figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) also showed that the Dangote refinery exported an estimated 1.66 billion litres of refined petroleum products in April 2026, including petrol, diesel and aviation fuel.
The refinery remains Nigeria’s only major operational refinery producing sufficient refined petroleum products for both domestic consumption and export, helping the country become a net exporter of petrol and strengthening its position as a growing fuel export hub in Africa.
