Dangote Refinery Supplies Jet Fuel to US as Nigerians Await Return to Petrol Sales in Naira
- Nigeria's balance of trade continues to get stronger as the Dangote Refinery increases the export of refined petroleum products
- Available data show that in March 2025, almost 2 million barrels of jet fuel had left Nigeria for the US
- Nigerians are still awaiting the end of the Dangote Refinery's dollar-denominated sales of fuel
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Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
The Dangote Petrochemical Refinery is moving on with business after announcing a temporary suspension of petrol sales in naira, and has now exported a significant quantity of jet fuel to the United States of America.
A report from the ship-tracking service, Kpler, showed that since the beginning of March 2025, about six vessels containing 1.7 million barrels of jet fuel have left the Dangote Refinery and arrived at ports in the USA.
The data further shows that by March 29, the Everglades terminal will receive the Hafnia Andromeda, a vessel carrying about 348,000 barrels of jet fuel.
Source: UGC
These imports are set to push US jet fuel imports to a two-year high.
Room for Dangote Refinery to supply more jet fuel
The Dangote Refinery might see more opportunities to sell its jet fuel to the US market, as the shutdown of Phillips 66 Bayway refinery in New Jersey over maintenance opens up a vacuum to be filled with imports.
ChannelsTV News reports that the charts also show a new high in jet fuel imports to the US by origin country.
This is also leading to increased demand to lease storage tanks, but there is little certainty about how long this will last.
FG halts naira-for-crude sales
The federal government had recently announced an end to the naira-for-crude deal, which it said was only scheduled to last six months in its pilot phase.
There are assumptions that the federal government is now going to sell crude oil to the domestic refineries in dollars, as the federal government seeks to generate much-needed FX and boost its foreign exchange reserves.
This has raised concerns and controversies about the availability of crude oil for the Dangote Refinery to carry out its operations, and supply petroleum products to the Nigerian market and other countries.
Source: Getty Images
It has also placed the naira under a lot of pressure in the foreign exchange market, as both local marketers and importers are now scrambling for dollars to purchase petroleum products.
Economic experts say that in the long term, this decision spells doom for the naira.
Dangote Refinery stops naira sale of petroleum products
In related news, Dangote Petrochemical refinery halted the sale of its refined petroleum products in naira.
According to the official statement on its X handle, this move positioned the company to be better equipped to meet its crude payment obligations in dollars, as the federal government had suspended the naira-for-crude deal.
The company noted that its products would now be sold in dollars, but promised to return to naira sales as soon as the NNPC resumed selling crude in naira.
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Source: Legit.ng
