Nigeria’s petroleum imports from Malta have surged 43-fold, reaching $2.08 billion in 2023, amid ongoing tensions between the Dangote Group and the Nigerian National Petroleum Company (NNPC).
Thank you for reading this post, don't forget to subscribe!Data from Trade Map reveals that Nigeria imported petroleum oils and oils obtained from bituminous minerals worth $2.8 billion in 2023, marking a 342 percent increase from $47.5 million in 2013.
Between 2013 and 2016, import values fluctuated, peaking at $117.01 million in 2015 before plummeting to $13.32 million in 2016. For six consecutive years, from 2017 to 2022, petroleum imports from Malta were nonexistent.
In 2023, however, there was a substantial increase, with imports reaching $2.08 billion, a dramatic rise compared to previous years. The sudden surge has raised eyebrows, particularly following allegations from Aliko Dangote, chairman of Dangote Industries Limited. Dangote claims that some NNPC personnel, oil traders, and terminals have established a blending plant in Malta. This plant allegedly blends re-refined oil with additives to create finished lubricant products, though it has no refining capability.
Dangote made these allegations at the House of Representatives, suggesting that the blending plant’s existence is well-known among stakeholders. Kelvin Emmanuel, co-founder and CEO of Dairy Hills and an energy expert, supported Dangote’s claims, indicating that complex share structures could obscure true ownership.
In response, NNPC’s group chief executive officer, Mele Kyari, denied owning any blending plant or being aware of any NNPC employee involved in such activities. He clarified that he only owns a local mini agriculture venture and vowed to sanction any NNPC staff proven to be involved.
Kyari emphasized that the blending plant in Malta or elsewhere does not influence NNPC’s operations or strategic actions. He assured that any implicated NNPC employees would face compliance sanctions and be reported to relevant government security agencies for necessary action, highlighting the grave implications for national energy security.
