Nigeria’s Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated ₦757 billion, surpassing shipments from the United States during the month, according to a report by S&P Global Commodity Insights.
The report, cited by Punch Newspapers, said Nigerian jet fuel exports to Europe climbed from 232,000 metric tonnes in May to 466,000 metric tonnes in June, marking the highest monthly volume since Nigeria became a net exporter of aviation fuel in 2024 after the Dangote refinery began producing jet fuel.
The June exports are equivalent to about 582.5 million litres of aviation fuel. Based on an estimated domestic price of ₦1,300 per litre, the shipment was valued at roughly ₦757.25 billion.
In contrast, jet fuel exports from the United States to Europe fell sharply, dropping from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and 399,000 metric tonnes in June, leaving Nigeria as Europe’s larger supplier during the month.
According to the report, increased exports from both Nigeria and the United States contributed to an oversupplied European jet fuel market. A trader quoted by S&P Global Commodity Insights said high refinery production, delayed maintenance and renewed shipments through the Suez route had added to supply.
The report also noted that European jet fuel prices weakened significantly after reaching record highs during the Middle East conflict. Platts, part of S&P Global Commodity Insights, said the Northwest Europe July jet fuel cargo assessment fell from $1,694.25 per metric tonne in March to $981.75 per metric tonne by June 30.
Exports to Europe could increase further in the coming months as favourable trading conditions continue to encourage shipments from the Middle East and India. While exports from the United Arab Emirates and Kuwait were absent in June, shipments from Saudi Arabia and India rose during the period.
Despite the current oversupply, traders told Platts that future market conditions would depend on developments in the Strait of Hormuz, recovery of Middle Eastern refineries and stronger summer travel demand, which could help rebalance the market.
Separately, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the Dangote refinery exported about 1.66 billion litres of refined petroleum products in April 2026, including petrol, diesel and aviation fuel.
The figures underline Nigeria’s growing role as an exporter of refined petroleum products, with the Dangote refinery remaining the country’s only major operational refinery producing sufficient volumes for both domestic use and export.
