Dangote Refinery Ships N757bn Jet Fuel to Europe

In June, Dangote Refinery exported 466,000 metric tons of jet fuel to Europe, valued at N757 billion, marking Nigeria's emergence as a net exporter of aviation fuel in 2024. This export volume is the highest recorded for Nigeria, with shipments to Europe rising from 232,000 metric tons in May.

The refinery's output began in June, producing an estimated 582.5 million liters of jet fuel, with a domestic value of N1,300 per liter. In contrast, U.S. jet fuel exports to Europe have declined significantly, falling from 818,000 metric tons in April to 399,000 metric tons in June.

Market analysts attribute this shift to oversupply and high local refinery production. The report from S&P Global Commodity Insights indicates that European jet fuel prices have dropped sharply due to these market conditions.

The Dangote Refinery's operations have contributed to Nigeria's ability to export 1.66 billion liters of refined petroleum products, including aviation fuel, as of April 2026.