Nigeria’s petroleum products import from Malta increased to N766.81 billion in the third quarter of 2024 despite the coming on board of Dangote Refinery.
This is according to an analysis of the National Bureau of Statistics trade data for Q3 2024 released last week.
The data showed that imports from Malta ranked among the top five in Q3, with motor spirit ordinary, gas oil, durum wheat, cane sugar meant for sugar refineries, and used vehicles with diesel or semidiesel engines of cylinder capacity as the most traded commodities.
The report read, “Analysis by trading partners reveals that imports from China were valued at N3,574.79 billion, representing 24.36 percent of total imports. This was followed by imports from India with N1,662.68 billion (11.33 percent of total imports), Belgium with imports valued at N1,632.89 billion or 11.13 percent of total imports, the United States of America with goods valued at N1,024.44 billion (6.98 percent of total imports), and goods from Malta valued at N766.81 billion or 5.23 percent of total imports.”
The most traded commodities imported during the quarter were Motor spirit ordinary, Gas oil, durum wheat, Cane sugar meant for sugar refinery and used vehicles, with diesel or semidiesel engines, of cylinder ccapacity > 2500cc,”, the report added.
According to NBS Q1 and Q2 data, Nigeria recorded zero imports from Malta.
However, by Q3 2024, the import from this country accounted for 5.23 percent of Nigeria’s total import of N14.67 trillion in the period under review.
DAILY POST reports that Dangote Petrol hit the Nigerian market officially on September 15, 2024, with the Nigerian National Petroleum Company Limited as the sole off-taker.
Recall that Aliko Dangote, the president of Dangote Refinery, raised an alarm in July this year that some officials of the Nigerian National Petroleum Company Limited and oil traders own blending plants in Malta from where they import substandard products into Nigeria.
“Some of the terminals, some of the NNPC people, and some traders have opened blending plants somewhere off Malta. We all know these areas. We know what they are doing,” Dangote said.
Meanwhile, the Nigerian National Petroleum Company Limited Group Chief Executive Officer, Mele Kyari, did not waste time dismissing Dangote’s claim.
“To clarify the allegations regarding the blending plant, I do not own or operate any business directly or by proxy anywhere in the world except a local mini Agric venture.
“Neither am I aware of any employee of the NNPC that owns or operates a blending plant in Malta or anywhere else in the world,” Kyari said.
Dangote’s allegation comes as NBS data showed that Nigeria’s petroleum products imports from Malta increased by 342 percent in 2023 to $2.08 billion in Q3 2023.
https://dailypost.ng/2024/07/25/dangote-vs-nnpc-nigerias-petrol
The development further raised concern on why NNPCL would ignore Dangote Petroleum products for imported ones.
Meanwhile, Dangote Refinery, Independent Petroleum Marketers Association of Nigeria, and other marketers direct purchase agreements seem to reduce the country’s dependence on imported petroleum. The coming onstream Port Harcourt refinery may cut down Nigeria’s reliance on imports for energy security.
https://dailypost.ng/2024/11/26/port-harcourt-refinery-commences
Dangote Refinery, NNPC: Nigeria’s petrol imports from Malta hit N766.81bn in Q3
