Nigeria's Dangote Refinery exported 466,000 metric tonnes of jet fuel to Europe in June 2026, overtaking the United States as the continent's largest aviation fuel supplier for the month. The shipment is valued at approximately ₦757 billion, based on an average price of ₦1,300 per litre, and represents about 582.5 million litres of aviation fuel.
Historic milestone for Nigeria's refining capacity
According to a market report by S&P Global Commodity Insights, Nigeria's jet fuel exports to Europe nearly doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June. The surge was driven by increased output from the Dangote Petroleum Refinery, which began producing aviation fuel in 2024.
In contrast, US jet fuel exports to Europe declined significantly over the same period—from 818,000 metric tonnes in April to 560,000 metric tonnes in May, and further to 399,000 metric tonnes in June. This left Dangote's refinery as the leading supplier to Europe during the summer travel season.
Market dynamics and oversupply
Traders quoted in the report noted that Europe is currently oversupplied with jet fuel due to high local refinery production and large volumes from the US and Dangote. One trader said: "Jet is oversupplied because of high local refinery production; refineries pushed back maintenance to make the most of the high prices. The US and Dangote also shipped large volumes. Now there are some flows resuming through the Suez, too, from the UAE, but let's see how it goes."
Prices for jet fuel have dropped sharply from record highs during the Middle East conflict. According to Platts, the Northwest Europe jet fuel cargo price for July fell to $981.75 per metric tonne by June 30, compared with $1,694.25 per metric tonne earlier in the conflict.
Nigeria's growing role as a fuel export hub
This achievement follows a near-doubling of the refinery's month-on-month aviation fuel output. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the refinery exported about 1.66 billion litres of refined petroleum products in April 2026 alone, including 513 million litres of petrol, 534 million litres of diesel, and 615 million litres of aviation fuel.
Nigeria recently became a net exporter of petrol for the first time in decades, as local refining capacity surpassed domestic demand. Industry analysts say the latest figures strengthen Nigeria's position as one of Africa's emerging refining and fuel export hubs, especially as global supply chains adjust to disruptions from Middle East tensions.
Traders expect the market could change depending on developments around the Strait of Hormuz, a critical oil shipping route. They also anticipate stronger summer travel and a shift in refinery focus toward diesel production to eventually balance supply.
