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Malta’s total imports rose from zero to N1.03 trillion in 2023, NBS data reveals

Nigeria’s total imports from Malta increased from zero to approximately 1.03 trillion naira in 2023, according to an analysis of foreign trade statistics reports released by the National Bureau of Statistics (NBS).

This comes as controversy continues following Nigeria’s sudden surge in imports from the small Southern European country, following the recent allegation by Aliko Dangote, Chairman of Dangote Industries Limited, against the Nigerian National Petroleum Company (NNPC) Limited.

A cursory review of NBS reports shows that Nigeria’s total import in 2023 was N35.92 trillion, indicating that about 2.87% of Nigeria’s total imports came from Malta, despite there being no record of international trade between the two countries in 2022.

Nairametrics further noted that imports from Malta were 8.41% of total imports from Europe, which were approximately N12.25 trillion in 2023.

What does the data say?

In the first quarter of 2023, Nigeria’s imports from Malta recorded a value of zero, representing 0% of total imports for that period. This lack of imports marked a stark contrast for subsequent quarters.

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  • In the second quarter, Malta’s imports stood at N181.55 billion, representing 3.17% of Nigeria’s total imports during the period.
  • The upward trend continued in the third quarter of 2023, with Malta’s imports increasing to N561.37 billion, representing a 6.64% share of total imports for the quarter, showing a significant increase of 209.20% compared to the previous quarter.
  • However, in the fourth quarter of 2023, the value of Malta’s imports declined sharply. Imports fell by 48.01% to N291.98 billion, representing only 2.07% of Nigeria’s total imports during the quarter.

Since there were no imports from Malta in the first quarter of 2023, imports from this southern European country are likely to have started between the second and fourth quarters of 2023.

During these three quarters, Nigeria’s total imports were N29.45 trillion, which further suggests that the share of imports from Malta was around 3.5% of total imports during that period.

What you should know

The unexpected surge in imports from Malta, a country not typically known for its prominence in global oil markets, has caused a stir and fueled speculation.

  • Aliko Dangote, Chairman of Dangote Industries Limited, said that staff of the Nigerian National Petroleum Company (NNPC) Limited, together with oil traders and terminal operators, have set up a blending facility in Malta.
  • This plant, which lacks refining capacity, produces finished motor gasoline by mixing oxygenates with motor gasoline and other components.
  • Dangote publicly accused the owners of the Malta blending plant of undermining Nigeria’s oil production potential.
  • Responding to these claims, Mele Kyari, the group chief executive of NNPC, categorically denied any association with the mixing plant, except for a small local agricultural company.
  • Kyari also denied any knowledge of NNPC employees being involved in such activities. Kyari said the blending plant in Malta, or any similar facility around the world, has no impact on NNPC’s operations or strategic decisions.

He, however, pledged to take disciplinary action against any NNPC staff involved in these allegations.

However, the NBS reports that: He did not specify the products imported from Malta.