The Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated ₦757 billion, making Nigeria a bigger supplier to the continent than the United States during the period.
According to an S&P Global Commodity Insights report, Nigerian jet fuel exports to Europe doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June, the highest monthly volume since Nigeria became a net exporter of aviation fuel in 2024.
The June shipment is equivalent to about 582.5 million litres of jet fuel, with an estimated domestic value of ₦757.25 billion.
Meanwhile, jet fuel exports from the United States to Europe declined from 818,000 metric tonnes in April to 399,000 metric tonnes in June, allowing Dangote Refinery to overtake U.S. suppliers during the month.
Market analysts say increased exports from Dangote Refinery and the United States have contributed to an oversupply in the European market, leading to a sharp drop in jet fuel prices amid weaker-than-expected aviation demand.
