Business
US Imports Two Million Barrels of Jet Fuel from Dangote Refinery
The growing influence of the Dangote Petroleum Refinery & Petrochemicals is extending far beyond Africa and the Middle East, as the United States imports over two million barrels of jet fuel from the world’s largest single-train refinery in March.
Experts assert that 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 Dangote Refinery.
According to data from ship-tracking service Kpler, six vessels carrying around 1.7 million barrels of jet fuel from Dangote Petroleum Refinery arrived at US ports this month. Another vessel, the Hafnia Andromeda, is set to arrive at the Everglades terminal on 29th March with approximately 348,000 barrels of jet fuel.
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.
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.
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.
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
Nigeria’s leading telecommunications company, Globacom, has announced enhancement of its data bundles to give subscribers more data volume at the same affordable prices.
The upgrade reinforces the company’s commitment to providing superior value and exceptional customer satisfaction.
The upgraded Glo Data Bundles are enhanced versions of the existing daily, weekly, and monthly plans, giving subscribers more data at no additional cost.
These improvements offer users greater freedom and convenience to enjoy their favourite online activities from streaming and gaming to social media, video calls, and more.
For daily users, the ₦100 plan has been upgraded from 105MB to 125MB, giving light internet users even more data to browse, chat, and stream short videos conveniently.
The weekly bundles have also received notable boosts, such as the ₦1,500 plan, which now offers 6GB instead of 5.9GB, enabling subscribers to stay connected longer.
Heavy data consumers will also enjoy remarkable value on the monthly plans. The ₦2,000 bundle now gives 6.25GB, while the ₦10,000 package has been enhanced from 38GB to 42GB, allowing users to do more from video streaming and large file downloads to remote work and virtual meetings.
Students are not left out, as the Campus Booster Plan has been upgraded with higher data allowances, ensuring seamless access to academic resources and social networks while on campus.
Globacom noted that the revised bundles are available to all Glo customers prepaid, postpaid, and hybrid and can be activated by dialing *312#, using the Glo Café app (available on Android and iOS), or visiting hsi.glo.com.
The company added that subscribers can use, share, or gift data through *312# or the Glo Café app. Customers will also continue to receive data usage alerts at 75% and 100% consumption levels to help monitor usage effectively.
Unused data is automatically rolled over upon renewal before expiry or when a new plan is purchased within the grace period (ranging from one to seven days, depending on the plan).
Globacom reaffirmed its commitment to empowering Nigerians with reliable and affordable data access, urging customers to take advantage of the revised data bundles that combine affordability, quality, and more browsing power ensuring every Glo subscriber enjoys more data without paying more.
Fidelity Bank Plc has congratulated Air Peace on the successful launch of its maiden direct flight from Lagos to London Heathrow, describing the milestone as a significant achievement for Nigeria’s aviation sector and a testament to the power of indigenous partnerships.
The commendation was delivered by Dr. Nneka Onyeali-Ikpe, managing director of Fidelity Bank, during a special event held in Lagos to celebrate the airline’s expansion into the European market.
“This is not just a win for Air Peace, but a win for Nigeria,” Onyeali-Ikpe said. “It reflects the strength of home-grown businesses and the impact of strategic financial support in enabling national champions to thrive on the global stage.”
Nigeria CommunicationsWeek reports that Fidelity Bank has played a pivotal role in Air Peace’s growth, providing early financial backing and advisory services that helped the airline become the largest carrier in West Africa. The bank continues to support Air Peace through payment processing and other financial services
The launch of the London route marks a new chapter for Air Peace, which now joins a select group of African airlines operating direct flights to Heathrow.
The development is expected to boost tourism, trade, and connectivity between Nigeria and the United Kingdom.
Speaking at the event, Allen Onyema, Chairman of Air Peace, expressed gratitude to Fidelity Bank for its unwavering support and reaffirmed the airline’s commitment to excellence and service.
“This partnership has been instrumental in our journey,” Onyema said. “We are proud to fly the Nigerian flag across international skies.”
Industry stakeholders present at the event praised the collaboration between the two companies as a model for sustainable business growth and national development.
The Group Chairman, United Bank for Africa (UBA) Plc, and Heirs Holdings Limited, Tony Elumelu, CFR has challenged African policymakers to create environments that reward enterprise and unlock the continent’s vast potential. He said this much while delivering a keynote address during the Abuja Business & Investment Summit & Expo 2025, which held at the Bola Ahmed Tinubu International Conference Centre Abuja on Wednesday, said “Predictable regulation attracts long-term investment, while inconsistency drives it away. He therefore urged governments to see private sector success as the foundation of national prosperity.
Elumelu who underscored the critical role of the private sector as the true engine of transformation, accounting for over 70% of Africa’s GDP and 80% of employment, also urged African leaders to create a sustainable environment to attract long-term investment.
Elumelu who was speaking while delivering the keynote address during the Abuja Business & Investment Summit & Expo 2025, which held at the Bola Ahmed Tinubu International Conference Centre Abuja on Wednesday, said “Predictable regulation attracts long-term investment, while inconsistency drives it away. He therefore urged governments to see private sector success as the foundation of national prosperity.
Citing his group’s transformative investments in the Federal Capital Territory, including the revitalisation of the Transcorp Hilton Abuja, the launch of the Transcorp Event Centre, and ongoing reforms in the Abuja Electricity Distribution Company (AEDC), Elumelu pointed out that these projects illustrate how purposeful private capital can power real development.
Speaking on the theme, “Empowering Sustainable Growth: Unlocking Potential in Emerging Markets”, he called for a new social contract between business and government, grounded in trust, transparency, and partnership, adding that sustainable progress requires policies that convert investor confidence into nation-building.
While advocating policy stability to champion the pivotal role of the private sector in unlocking Africa’s vast economic potential, Elumelu, who is also the Founder of the Tony Elumelu Foundation, reiterated that no nation has ever achieved sustained prosperity without a vibrant and virile private sector.
“Across Africa, the private sector contributes over 70% of our continent’s GDP and over 80% of total employment. But this is not just about numbers; it’s about influence and initiative. The private sector is reimagining what is possible on our continent,” he stated.
He noted that Africa’s transformation will be led by investing long-term in critical sectors to unlock and catalyze prosperity and opportunities for all.
“How can we expect foreign investors to invest in us, in our economies and countries, if we don’t invest in our own economies? Make your money, but please bring it and invest locally. It will be a huge disservice and act of unpatriotism to save your money in economies that already have so much,” Elumelu challenged participants during the event.
He took time to commend the Minister of the Federal Capital Territory, Nyesom Wike, and Minister of State FCT, Dr. Mahmoud Mariya, for the infrastructural drive within the FCT, emphasizing the importance of collaboration.
In her presentation, the Minister of State for the FCT, Dr. Mariya Mahmoud who expressed profound gratitude to Tony Elumelu and fellow investors for their faith in Abuja, reiterated the FCTA’s unwavering determination to intensify its infrastructural drive, ensuring the capital remains the premier investment destination in Nigeria and across the continent.
The annual ABISummit2025 serves as a critical platform to turn this ambitious vision into concrete partnerships and actionable strategies for empowering sustainable growth across Nigeria and the wider African continent.
