Stories by Emmanuel Addeh in Abuja
Nigeria’s jet fuel exports to Europe climbed to a record high in June, underscoring the growing influence of the Dangote Petroleum Refinery in the international aviation fuel market, even as Europe grapples with an oversupplied market and weakening prices.
According to market intelligence from S&P Global Commodity Insights, Nigeria exported about 466,000 metric tonnes of jet fuel to Europe in June, almost double the 232,000 metric tonnes shipped in May and the highest monthly volume since the country became a net exporter of aviation fuel in 2024 following the commencement of jet fuel production at the Dangote Refinery.
The sharp increase in exports comes as Europe experiences abundant jet fuel supplies, driven by elevated refinery production, increased imports from the United States and Nigeria, as well as the gradual resumption of shipments through the Suez Canal.
“Flows from Nigeria rose from 232,000mt in May to 466,000mt in June, the highest volume exported from the country to Europe since it became a net exporter of jet fuel in 2024, when the Dangote Refinery started producing jet fuel,” the organisation added.
