Nigeria’s Dangote Petroleum Refinery has displaced the United States as Europe’s largest external supplier of jet fuel, shipping an estimated 466,000 metric tonnes of aviation fuel to the continent in June — the highest volume recorded since the facility began operations in 2024.
Data from S&P Global Commodity Insights’ Commodities at Sea (CAS) platform show Nigerian exports nearly doubled month-on-month, rising from 232,000 metric tonnes in May to 466,000 metric tonnes in June. Over the same period, US shipments to Europe fell from 560,000 metric tonnes to 399,000 metric tonnes. The United States had previously recorded a historic 818,000 metric tonnes of exports to Europe in April.
The June shipment — equivalent to approximately 582.5 million litres of aviation fuel — was valued at an estimated ₦757 billion (approximately $553 million), based on an estimated domestic price of ₦1,300 per litre.
Nigeria became a net jet fuel exporter in 2024 following the commencement of production at the Dangote Refinery, a milestone that marked a structural shift for a country that had long relied on imported refined petroleum products despite sitting on substantial crude reserves.
A cooling market, a rising supplier
The surge in Nigerian exports came against a softening European jet fuel market. S&P Global data show the Northwest Europe jet fuel benchmark fell from a record $1,694.25 per metric tonne in March to $981.75 per metric tonne by the end of June, as high refinery output and weaker-than-expected summer aviation demand created an oversupplied market.
A European fuel trader told S&P Global’s Platts pricing service that increased output from local refineries, combined with strong exports from both the United States and Dangote, contributed to the surplus. That Dangote was able to grow its market share in this environment underscores the scale and competitiveness of the Lagos-based facility.
The export milestone aligns with broader expansion plans by the Dangote group across the African continent. The company has outlined a $46 billion plan to develop additional refining capacity linking West and East Africa through two further mega-refineries, a move that could deepen Africa’s role as a refined fuel producer rather than a net consumer.
For African energy markets, the trajectory carries significance beyond Nigeria.
A continent that has historically exported crude oil while importing refined products at a premium is beginning — through facilities like Dangote’s — to capture more value within its own borders. Whether that shift accelerates will depend on how quickly additional refining infrastructure comes online and whether regional demand can absorb growing domestic output alongside export ambitions.
The Dangote Petroleum Refinery, located in the Lekki Free Zone outside Lagos, is Africa’s largest single-train refinery by capacity.
