Nigeria’s imports of refined petroleum products from Malta plunged 60 percent in 2024, new trade data show, underscoring a major shift in fuel supply patterns as the Dangote refinery increases output.
According to figures from TradeMap, Nigeria imported about US$818 million worth of petroleum oils and related products from Malta in 2024, down sharply from more than US$2.1 billion the previous year.
The reversal comes after an unusual surge in 2023, when Malta a country that had supplied virtually no fuel to Nigeria between 2017 and 2022 suddenly became a major source. Imports soared to US$2.1 billion amid industry chatter about opaque routing and alleged blending operations.
At the height of the debate, Dangote Group chairman Aliko Dangote accused some personnel at state-run NNPC, along with traders and terminals, of running a blending facility in Malta allegations that fuelled concerns over transparency, foreign-exchange losses and the integrity of Nigeria’s fuel supply chain.
Analysts say the steep drop in 2024 imports suggests the market is adjusting as the giant 650,000-barrel-per-day Dangote refinery moves toward steady production.
