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Fuel: Fresh Report Exposes That Nigeria Imported $2.25bn Petroleum From Malta, Giving Credence To Dangote’s Claim

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Following Alhaji Aliko Dangote’s allegations that Nigerian National Petroleum Company (NNPC) officials own blending plants in Malta, new information has surfaced indicating that Nigeria imported fuel worth $2.25 billion from Malta over nine years.

According to Trade Map data, Nigeria imported $2.8 billion worth of petroleum oils from Malta in 2023, a significant increase from $47.5 million in 2013. The imports for 2014, 2015, and 2016 were $59.98 million, $117.01 million, and $13.32 million, respectively. Notably, there were no fuel imports from Malta between 2017 and 2022, but in 2023, imports soared to $2.08 billion.

This sudden spike in imports has led some Nigerians to support Dangote’s claim about NNPC personnel owning blending plants in Malta. Amid the controversy surrounding his $20 billion refinery, Dangote stated, “Some NNPC people and traders have opened blending plants off Malta. We know these areas and what they are doing.

In response, NNPC’s Group Chief Executive Officer, Mele Kyari, denied owning any blending plants abroad. He clarified that he does not operate any business, directly or by proxy, outside Nigeria except for a local agricultural venture. He also stated that he is unaware of any NNPC employee owning or operating a blending plant in Malta or elsewhere.

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Port-Harcourt Refinery Fully Operational

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2 days ago

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December 21, 2024

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Port-Harcourt Refinery Fully Operational
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PRESS RELEASE

Port-Harcourt Refinery Fully Operational

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.

Preparation for the day’s loading operation is currently ongoing.

Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

21st December, 2024

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Competition is affecting Dangote Refinery, Dangote is ready to sell on Credit to any marketer that can buy a truck and the marketer will get the second truck on credit.

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3 days ago

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December 19, 2024

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Dangote Refinery faces competition from several sources, including: 

  • Fuel importers
    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) continues to issue licenses for refined product imports, which can make it harder for Dangote to meet local demand. 

  • Marketers
    Marketers have different views on whether to pay Dangote in advance for petrol. Some say that advance payments can put financial pressure on marketers, especially those with limited capital. Others say that advance payments are necessary to ensure the refinery’s operations run smoothly. 

  • Legal disputes
    Oil marketers are in a legal dispute with Dangote over the refinery’s request to restrict import licenses. 

  • Direct purchasing
    Marketers can now purchase petrol directly from Dangote Refinery and other local refineries. This allows marketers to negotiate commercial terms directly with the refineries, which can create a more competitive market environment. 

The start of operations at the Dangote Petroleum Refinery and other refineries has increased transparency and market competition in West Africa. 

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Yuletide: Dangote Refinery slashes petrol price to N899.50

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3 days ago

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December 19, 2024

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Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit to N899.50 per litre, in a bid to offer Nigerians some relief as the holiday season approaches.

The refinery had previously cut the price to N970 per litre on November 24.

The latest reduction aims to ease transportation costs during the festive period, a time when Nigerians often face increased travel expenses.

This was disclosed in a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, on Thursday.

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