‘Nil from 2017-2022, $2bn in 2023’ — the sudden surge in Nigeria’s petroleum imports from Malta

Nigeria’s petroleum importation from Malta surged significantly to $2.8 billion in 2023.

Nigeria is one of Africa’s biggest oil-producing nations — but it lacks local refining capacity.

Speaking at an event in May, Vice-President Kashim Shettima had said over $25 billion is expended on the importation of refined petroleum products yearly.

The Nigeria National Petroleum Company (NNPC) Limited is the sole importer of petroleum products in the country.

According to data from Trademap, a database on international trade statistics, between 2017 and 2022, there were no imports of the commodity from Malta — an island country in Southern Europe located in the Mediterranean Sea.

However, the value of imported petroleum oils and oils obtained from bituminous minerals was $13.32 million in 2016.

This represents a 20,921 percent increase compared to the amount ($2.8 billion) recorded in 2023, according to TheCable Index analysis.

Further checks showed that the importation of petroleum products from Malta gulped $47.5 million in 2013. The amount increased to $59.98 million and $117.01 million in 2014 and 2015, respectively.

Similar import figures were also shared on social media by StatiSense, a data company.

On July 22, Aliko Dangote, chairman of Dangote Industries Limited, said some personnel of the NNPC Limited, oil traders and terminals have opened a blending plant in Malta.

“Some of the terminals, some of the NNPC people and some traders have opened a blending plant somewhere off Malta,” the billionaire had said.

“We all know these areas. We know what they are doing.”

In response to Dangote’s allegation, Mele Kyari, the group chief executive officer (GCEO) of the NNPC, said he does not own a blending plant in Malta.

An oil blending plant is a facility which has no refining capability but is either capable of producing finished motor gasoline through mechanical blending or blends oxygenates with motor gasoline.

https://www.thecable.ng/nil-from-2017-2022-2bn-in-2023-the-sudden-surge-in-nigerias-petroleum-imports-from-malta/amp/

Good

The evidence is everywhere now

Petrol is cheap to buy and import from Malta because most oil companies are aware that it's cheaper to refine and produce Petroleum products in Malta.

If it gets expensive tomorrow, Petrol importers and refiners will go elsewhere. Watch out for Venezuela in few months time.

May God bless Nigeria for ever! Check my signature for free stuffs!

Ok

FreeStuffsNG:
Petrol is cheap to buy and import from Malta because most oil companies are aware that it's cheaper to refine and produce Petroleum products in Malta.

If it gets expensive tomorrow, Petrol importers and refiners will go elsewhere. Watch out for Venezuela in few months time

You will defend the devil himself as long as he's willing to pay you. Where are the imaginary dollars you once said we will save from subsidy? How much is the naira which you said will gain massively when the imaginary dollars start trickling in? Your own na to just dey form expert on every topic when you know absolutely NOTHING! What's up with the dollars you said we will save after Binance? Empty barrel!

Please check my profile for the real free stuffs

Exciting times

Okay

Ok

Na grand scam

Dangote may be right with this revelation.

Ok

VikingKing:


You will defend the devil himself as long as he's willing to pay you. Where are the imaginary dollars you once said we will save from subsidy? How much is the naira which you said will gain massively when the imaginary dollars start trickling in? Your own na to just dey form expert on every topic when you know absolutely NOTHING! What's up with the dollars you said we will save after Binance? Empty barrel!

Please check my profile for the real free stuffs

this one enter wella.....

Na Dangote go lead this protest🤣

Nigeria is a badly told joke.

FreeStuffsNG:
Petrol is cheap to buy and import from Malta because most oil companies are aware that it's cheaper to refine and produce Petroleum products in Malta.

If it gets expensive tomorrow, Petrol importers and refiners will go elsewhere. Watch out for Venezuela in few months time

U don't know much about the news.

It is not what u think.

Tinubu should better do the needful

E go reach everybody ai

Blending plant in Malta - this must be where they blended the bad fuel that kicked off fuel shortages

Their hands are all in it

maybe Satan lives in Nigeria as someone once said.country with crude oil going to another country without crude to refine.country with crude oil no working refinery, country without crude oil but get refinery.

COMRADES, this is the one thing that is killing Nigeria CORRUPTION
But unfortunately the president is sleeping

Special thanks to Dangote for this exposure

Evil govt destroying Nigeria daily

Now V.P is reeling out statistics!!!

While the P was busy shouting na Statistics we go chop??

They are recycling used black motor oil for use as fuel
It’s very very very dirty
It’s what you throw away when you do oil change

Going... Gone!!!

This nation has gone.

Mhen!

Useless APC government

FreeStuffsNG:
Petrol is cheap to buy and import from Malta because most oil companies are aware that it's cheaper to refine and produce Petroleum products in Malta.

If it gets expensive tomorrow, Petrol importers and refiners will go elsewhere. Watch out for Venezuela in few months time

una go explain tire