Nigeria’s imports from Malta reached an all-time high of N766.81bn in the third quarter of 2024, according to the National Bureau of Statistics (NBS). This surge has made Malta Nigeria’s fifth-largest import partner, accounting for 5.23% of the country’s total imports, which stood at N14.67tn during the period.
The significant rise in imports from Malta has raised eyebrows, particularly following accusations from Aliko Dangote, chairman of Dangote Industries Limited, who claimed that a blending facility in Malta was adversely impacting Nigeria’s oil production capabilities. However, the NBS report did not specify the exact goods imported from Malta.
Interestingly, there were no recorded imports from Malta in the first two quarters of 2024, but in Q3, Malta became a notable trade partner. According to the NBS report, imports from other countries were also substantial, with China leading at N3,574.79bn, followed by India, Belgium, and the United States.
The rise in imports from Malta is partly attributed to the devaluation of the naira, which has inflated the cost of imports in local currency. In 2023, imports from Malta saw a sharp increase from zero to N1.03tn, making up about 2.87% of Nigeria’s total imports.
Dangote’s claims about a facility in Malta producing finished motor gasoline have added to the controversy surrounding the surge, although Mele Kyari, Group CEO of the Nigerian National Petroleum Corporation (NNPCL), has denied any involvement with the blending plant.
