Recent investigations have uncovered troubling details about the fuel importation practices of a key member of Nigeria’s Economic Council, leading to significant concerns over the quality of petroleum products entering the country.
Abdulkabir Adisa Aliu, a prominent figure on the Presidential Economic Coordination Council (PECC) and owner of Matrix Energy, is at the center of these revelations.
In 2023, Nigeria experienced a dramatic increase in its fuel imports from Malta, a small European island nation.
The total value of these imports skyrocketed to $2.8 billion, a sharp contrast to the negligible amount of $13.32 million recorded in 2016 and the zero imports between 2017 and 2022. This sudden surge has raised eyebrows among industry watchers and policymakers alike.
Aliko Dangote, chairman of Dangote Petroleum Refinery, first highlighted this anomaly, pointing out the unprecedented rise in fuel imports from Malta.
His claims were promptly denied by Mele Kyari, the Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Ltd (NNPCL), who asserted that there was no interest in Maltese plants from his side.
TheCable’s investigation has now brought Abdulkabir Adisa Aliu into the spotlight as one of the major importers of fuel from Malta. Aliu, who is also a member of the PECC, is linked to Matrix Energy, a company that has seen a notable increase in its fuel importation activities.
Despite the gravity of these allegations, Aliu has vehemently denied any wrongdoing. In an interview with TheCable, he promised to provide a detailed response to the concerns raised.
According to insider sources, July 2024 alone saw Matrix Energy receiving over 200,000 tonnes of petrol from Malta. This volume represents approximately 25 percent of Nigeria’s monthly Premium Motor Spirit (PMS) consumption.
Matrix Energy, which operates a modest network of around 150 retail stations, is handling a significant portion of the country’s fuel supply despite its relatively small market presence.
The insider revealed that Aliu’s close connections with the top management of NNPCL have played a crucial role in securing crude oil allocations for Matrix Energy. These crude cargoes are then traded by Gulf Transport & Trading (GTT), a company based in the United Arab Emirates (UAE).
Notably, two of the three crude cargoes of the newly launched Utapate grade were allocated to GTT. These cargoes are sold at a premium of $3 per barrel, translating into substantial earnings for the involved parties.
Matrix Energy’s operations also involve importing diesel from Russia, which is often of substandard quality. The diesel, loaded onto vessels in Novorossiysk, Russia, is transported to Lome, Togo, where it is blended with other components to correct its specifications. However, recent shipments have raised concerns due to their poor quality.
On June 16, 2024, about 15,000 tonnes of diesel, loaded from Russia and transported by the vessel MT Kallos, were transferred directly onto Matrix Triumph without any corrective blending. This diesel was subsequently discharged at Matrix’s jetty in Warri, Delta State. Another batch of 15,000 tonnes was similarly handled and offloaded at the Obat Oil terminal.
Documents reviewed by TheCable reveal that products from Malta are frequently transported through intermediate companies, such as Poly Pro Trading, registered in Dubai Free Trade Zone. This company’s office is listed at a business center with no physical presence, adding to the opacity of the transactions.
The situation is compounded by the fact that Malta has become a hub for blending and transferring sanctioned Russian oil and petroleum products. The blending process often results in lower-quality fuels, such as the “African Spec” gasoline, which is then shipped to Nigeria. This practice leads to frequent vehicle and equipment breakdowns, impacting the everyday lives of Nigerian consumers.
