Business
Nigeria Exports Over 2m Barrels Of Jet Fuel To US
Evidence of the growing influence of the Dangote Petroleum Refinery & Petrochemicals has manifested far beyond Africa and the Middle East, with the United States having imported over two million barrels of jet fuel from the Nigerian based refinery in March.
According to experts, this development should bring immense joy to Nigerians, as it attests to the unparalleled quality of the refinery’s products and the trust that the international community places in the world’s largest single-train refinery.
Going by data from ship-tracking service Kpler, six vessels carrying around 1.7 million barrels of jet fuel from the Dangote Petroleum Refinery arrived at US ports this month.
It was gathered that another vessel, the Hafnia Andromeda, is set to arrive at the Everglades terminal on 29th March with approximately 348,000 barrels of jet fuel.
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The shipments from the Dangote Refinery, with a capacity of 650,000 barrels per day (bpd) — Africa’s largest — highlight its potential to reshape global fuel trading dynamics, establishing a new swing supplier in the Atlantic Basin.
Biztellers reports that this shipment to the United States follows three cargoes of jet fuel, totalling around 130 million litres, exported from Nigeria to Saudi Arabia by the Dangote Petroleum Refinery.
The refinery has already demonstrated its ability to compete with European refiners on gasoline (PMS) exports, and these jet fuel shipments to the United States could challenge the economics of domestic producers in the world’s largest fuel-consuming nation.
According to Chief Operating Officer of TankTiger, Steven Barsamian, “the surge in demand, partly driven by the influx of supply from Nigeria, is expected to lower jet fuel prices in the US ahead of the peak summer travel season. US jet fuel imports from Dangote Refinery are expected to decrease aviation fuel prices during this period, according to trade analysts and storage brokers. US jet fuel imports in March have averaged around 226,000 bpd, the highest since February 2023, underlining the global demand for products from Dangote Refinery.”
The Dangote Refinery, which commenced production in January 2024, has already exported its products to almost every continent. While the surge in US imports was partly triggered by a maintenance-related shutdown at the Phillips 66 Bayway refinery in New Jersey, analysts believe the choice of Dangote’s products highlights its growing presence in international markets, having successfully competed with European refiners in gasoline exports.
Economist and Chief Executive Officer of the Centre for the Promotion of Private Enterprises (CPPE), Dr Muda Yusuf, stated that the export of jet fuel to the United States by Dangote Refinery is a point of pride for Nigeria, highlighting the quality, standard, and the trust that the international community places in the refinery.
“Nothing could be more prideful for us as a country than the fact that we now have a refinery producing products that can be exported to the United States. It speaks to the quality, standards, and trust that international communities have in Dangote Refinery, because these are markets that don’t compromise on quality. They have stringent standards, and if they deem it worthy to import from Nigeria, it is a source of great pride,” he said.
On his part, the former Director-General of the Lagos Chamber of Commerce and Industry (LCCI) also emphasised that Dangote Refinery is enhancing Nigeria’s position on the global stage and should be supported by both citizens and the government.
“That is why all of us—citizens and the government — should do everything to support the refinery, as it is breaking many barriers and boosting our country’s reputation. The lesson here is that we should support the Dangote Refinery and other refineries with similar capacities, as they can provide us with significant leverage,” he added.
Similarly, Public Policy Expert, Dr Abimbola Oyarinu, stated that the Nigerian economy would be in a better state today if the country had functional refineries in the past, rather than just exporting crude oil while importing refined petroleum products.
“This is something that should have been addressed since 2014. Things wouldn’t have reached this point—such as high inflation and unemployment—if we had a functioning refinery. However, both the government and the people failed to take action until Dangote stepped in with significant investment. The Dangote Refinery is not only reducing foreign exchange outflow, but it is also bringing in foreign exchange. It is unfortunate that despite this, some elites and those in power are still intent on sabotaging the refinery and Dangote himself,” he said.
The university lecturer also warned that the lack of ease in doing business and the frustration of local investments could discourage future investors.
“This is something the country should be proud of. We previously had a mono-economy, reliant solely on oil exports, but Dangote has helped diversify the sector by selling finished products to international markets. However, which investors would want to invest in Nigeria after seeing what Dangote is going through?” he queried.
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Olanipekun Olukoyede, has led a major breakthrough in the Commission’s ongoing investigation into the alleged criminal aspects of transactions involving Nestoil Limited and a consortium of its lenders.
At a meeting convened and chaired by the EFCC Chairman, a structured repayment plan was agreed between Nestoil Limited and the consortium of lenders as part of efforts to recover outstanding indebtedness. The agreement has already yielded significant results, with US$60 million recovered from Nestoil Limited and paid to the consortium during the course of the investigation.
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The payment by Nestoil, facilitated by a team of operatives from the EFCC Lagos Zonal Directorate 2 led by the Head of Investigation, Mr. Oguzi Moses, represents a significant milestone in the Commission’s commitment to promoting accountability, protecting the interests of financial institutions, and safeguarding depositors’ funds.
While welcoming the payment as an encouraging development, the consortium of lenders noted that it represents only the first phase of the repayment process, as a substantial portion of the outstanding debt remains to be settled. The lenders reaffirmed their commitment to working closely with the EFCC and other relevant stakeholders to ensure the seamless continuation of the recovery process until the outstanding indebtedness is fully liquidated.
The lenders also reiterated their commitment to supporting the EFCC by providing all relevant documents required for the diligent prosecution of the investigation, while ensuring that all parties comply with the law and that the recovery process remains lawful, transparent, and commercially responsible.
The EFCC reaffirmed its resolve to pursue the investigation to its logical conclusion and to ensure the full recovery of depositors’ funds in accordance with the law.
The Nigerian non-governmental organisations (NGOs) now have extra motivation to offer exceptional impact, accountability and governance as long-term funding beckons.
This is because the NNPC Limited/FIRST Exploration and Petroleum Development Company Limited Joint Venture has launched ‘Impact FIRST: Heritage’, a new multi-year grant programme designed to provide sustained funding and long-term partnership support to outstanding NGOs.
Biztellers reports that the inaugural Impact FIRST: Heritage Grant Presentation Ceremony was held recently in Ikoyi, Lagos, had representatives of the NNPC Limited/FIRST E&P JV, beneficiary organisations, development stakeholders and members of the media in attendance to mark a new chapter in the JV’s commitment to sustainable social investment.
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Impact FIRST: Heritage builds on the success of the flagship Impact FIRST grant programme, which was launched in 2024 to support innovative and impactful NGOs addressing critical social challenges across Nigeria. Since inception, the programme has provided support to 15 NGOs whose interventions have positively impacted more than 20,000 beneficiaries across the country.
Unlike the annual Impact FIRST grant programme, which provides one-off funding support to a broad pool of eligible organisations, Impact FIRST: Heritage is designed as a long-term partnership model.
The programme provides multi-year funding to previous Impact FIRST beneficiaries that have demonstrated strong institutional governance, measurable social impact, sustainable programme delivery and the capacity to scale their interventions responsibly.
Following a rigorous assessment process, five organisations were selected as the inaugural beneficiaries of the Impact FIRST: Heritage programme, including The IREDE Foundation, which provides prosthetic limbs and support services for child amputees; Asido Foundation, which supports the rehabilitation and reintegration of individuals living with severe mental health conditions; Cerebral Palsy Centre, which provides long-term care and support services for persons living with cerebral palsy; Health and Development Support Programme, which delivers eye care interventions and sight-restoring surgeries for underserved populations; and Health Emergency Initiative, which expands access to emergency healthcare services and supports first-responder capacity development.
Speaking at the ceremony, Executive Director, Corporate Services, FIRST E&P, Emmanuel Etomi, described Impact FIRST: Heritage as an important evolution of the Joint Venture’s social investment journey.
“Today, we celebrate five exceptional organisations whose work continues to improve lives, strengthen communities, and create opportunities for some of Nigeria’s most vulnerable and underserved populations.
“By providing long-term support to organisations that have already demonstrated strong performance and measurable results, we are helping them scale their impact, strengthen their capacity, and create even greater value for the communities they serve,” he said.
In his address, the Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Olanrewaju Igandan, who was represented by Usman Mohammed-Bello, Advisor, Community Relations, NUIMS, at the event, said the transition from an annual corporate giving programme to a multi-year grant framework reflects a mature, strategic approach to social investment that aligns with the imperatives of sustainable development.
While appreciating FIRST E&P for what he termed a “forward-looking initiative”, he further pledged NUIMS’ commitment to sustaining the collaborative journey towards impactful social value creation that aligns with national development priorities.
Responding on behalf of the beneficiary organisations, Pascal Achunine, Executive Director of the Health Emergency Initiative (HEI), expressed appreciation to the NNPC Limited/FIRST E&P JV for the support and confidence reposed in the selected organisations.
He remarked that, “this investment represents more than funding. It is a vote of confidence in the work being done by organisations across the social sector to improve lives and strengthen communities. We are grateful for the opportunity to deepen our impact and extend our reach to even more beneficiaries.”
Impact FIRST: Heritage underscores the NNPC Limited/FIRST E&P JV’s commitment to creating sustainable social value through strategic partnerships with organisations that have demonstrated the ability to deliver measurable and lasting change.
Through the programme, the JV aims to strengthen proven interventions, expand access to critical services, and support long-term development outcomes across healthcare, education, economic empowerment and community development.
Stakeholders in the oil and gas sector have welcomed the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) projection that Nigeria’s upstream oil and gas sector is to attract between $30 billion and $50 billion in offshore investments between 2026 and 2030.
According to the Commission, the investment pipeline will be driven by 22 major offshore projects expected to boost crude oil production, create jobs, expand energy infrastructure, and strengthen the country’s energy security.
They believe that achieving these milestones will require peace and stability in the Niger Delta and protection of national assets, especially oil pipelines through Tantita Security Services Nigeria Ltd (TSSNL) operations.
Nigeria is determined to achieve $30 billion and $50 billion in offshore investments between 2026 and 2030 is real, according to the (NUPRC).
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The NUPRC attributed the improved outlook to reforms introduced under the Petroleum Industry Act (PIA), improved licensing transparency, and faster project approvals.
Since 2024, the regulator has approved more than $57 billion in Field Development Plans (FDP), with several projects already progressing to Final Investment Decisions (FID).
The Commission also said preparations for the 2026 Licensing Round are underway as it seeks to attract further investment into Nigeria’s upstream sector. The planned projects are expected to support the government’s target of increasing crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030.
Gaining the oil sector backing in this milestone journey requires more than policy pronouncements from the NUPRC.
It requires investment drive, attractiveness to global energy markets and support of domestic players in the industry.
President General, Niger Delta Progressive Alliance, Nse Victor Udoh, said to effectively harness the oil revenue requires that the Niger Delta, a region severally described as the goose that lays the golden eggs, must also be at peace and oil infrastructure across the region well secured.
He explained that it is where the Federal Government of Nigeria’s appointment of the TSSNL to protect oil assets and ensure peace and stability in the Niger Delta comes to play.
He added that the singular act will contribute positively to achieving $30 billion and $50 billion in offshore investments between 2026 and 2030, as predicted by the NUPRC.
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