In the third quarter of 2024, Nigeria’s imports from Malta hit a record high of N766.81 billion, according to the National Bureau of Statistics (NBS). This big jump has caused debate, especially from Aliko Dangote, the head of Dangote Industries Limited. He claims that the Nigerian National Petroleum Company Limited (NNPCL) is setting up a blending facility in Malta, which could hurt Nigeria’s ability to produce oil.
The NBS report shows that Malta was Nigeria’s fifth biggest import partner in the third quarter of 2024, making up 5.23% of Nigeria’s total imports, which were worth N14.67 trillion. This amount is the highest ever recorded for imports from Malta, beating the total from the first three quarters of 2023.
The exact products imported from Malta are not known. Analysts speculate the rise in imports might be because of the naira devaluation, which makes imports more expensive when measured in naira.
The disagreement about the Malta blending facility has caused a public argument between Dangote and Mele Kyari, the group chief executive officer of NNPCL. Kyari says he has nothing to do with the facility and rejects the idea that NNPCL workers are part of the blending plant.
This situation could have big effects on Nigeria’s oil production and its economy. As things develop, it’s not clear yet how the government and NNPCL will handle these issues.
