Nigeria becomes dominant aviation fuel supplier in June
By Sandra Kenneth
The Dangote Petroleum Refinery has disrupted global energy trade after exporting 466,000 metric tonnes of jet fuel to Europe in June 2026, worth an estimated ₦757.25 billion. The shipment pushed Nigeria to overtake the United States as the dominant supplier of aviation fuel to Europe for the month.
Record Export FiguresAccording to S&P Global Commodity Insights: Nigeria’s jet fuel exports to Europe doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June.
This is the highest level since Nigeria became a net exporter in 2024 — the same year the mega-refinery commenced production. US jet fuel exports to Europe crashed from a record 818,000 metric tonnes in April to just 399,000 metric tonnes in June.
Impact on Global Market
The massive influx of Nigerian and American products has created oversupply in the European market, a trader told S&P Global. Factors include: High domestic refinery outputs and deferred maintenance to cash in on earlier price spikes Weaker-than-expected summer aviation demand Resumption of fuel flows from the UAE via the Suez Canal
Prices Drop Sharply
Data from Platts shows the European jet fuel market has turned bearish: July CIF cargo assessment: Dropped to $981.75 per metric tonne on June 30, from a $1,694.25 peak on March 30 August contract: Fell from $1,507.50 to $968.25 in the same 3-month window The forward curve has weakened significantly from highs recorded during recent Middle East conflicts.
What This Means for Nigeria
The Dangote Refinery’s export surge marks a major shift in global energy trade, positioning Nigeria as a key player in Europe’s aviation fuel supply chain just 2 years after becoming a net exporter.
