Dangote just beat America in Europe, ships ₦757bn worth of jet fuel

• Dangote Refinery exported about ₦757 billion worth of jet fuel to Europe in June 2026.

• Nigeria shipped 466,000 metric tonnes of jet fuel, surpassing the United States' 399,000 metric tonnes.

• The refinery's growing output has helped Nigeria become a net exporter of petrol and aviation fuel.

• Analysts say Nigeria is gradually becoming one of Africa's biggest refined petroleum export hubs as global fuel markets continue to shift.

For years, Nigerians have complained about paying so much for fuel despite being one of Africa's biggest oil producers. Now, there's another major milestone involving the Dangote Refinery.

The refinery has reportedly become Europe's biggest supplier of jet fuel for the month of June, shipping more aviation fuel to the continent than even the United States.

According to a market report by S&P Global Commodity Insights, Nigeria exported about 466,000 metric tonnes of jet fuel to Europe in June 2026. That is almost double the 232,000 metric tonnes exported in May.

In monetary terms, that's around 582.5 million litres of aviation fuel, estimated to be worth about ₦757 billion, using an average value of ₦1,300 per litre.

The development is another sign that Nigeria's refining capacity is changing, largely because of the operations of the Dangote Petroleum Refinery, which started producing aviation fuel in 2024.

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While Nigeria's exports kept rising, shipments from the United States dropped significantly.

The report showed that US jet fuel exports to Europe fell from 818,000 metric tonnes in April to 560,000 metric tonnes in May, before dropping further to 399,000 metric tonnes in June.

That left Dangote's refinery supplying more jet fuel to Europe than the US during the month.

According to traders quoted in the report, Europe is currently dealing with more jet fuel than it needs because several countries increased production around the same time.

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."

The report explained that prices for jet fuel have dropped sharply after soaring during the Middle East conflict.

According to Platts, part of S&P Global Commodity Insights, the Northwest Europe jet fuel cargo price for July fell to $981.75 per metric tonne by June 30, compared with the record $1,694.25 per metric tonne recorded earlier during the conflict.

Even with the current oversupply, traders believe the market could change depending on what happens around the Strait of Hormuz, one of the world's most important oil shipping routes.

They also expect stronger summer travel and refiners focusing more on diesel production to eventually balance supply.

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This isn't the first major export milestone from Dangote Refinery.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) previously showed that the refinery exported about 1.66 billion litres of refined petroleum products in April 2026 alone.

The exports included:

• About 513 million litres of petrol

• Around 534 million litres of diesel

• Nearly 615 million litres of aviation fuel

Nigeria also became a net exporter of petrol for the first time in decades after local refining capacity overtook domestic demand.

Industry analysts say the latest figures further strengthen Nigeria's position as one of Africa's emerging refining and fuel export hubs, especially as global supply chains continue to adjust following disruptions caused by tensions in the Middle East.