Nigeria’s petrol imports from Malta have fallen sharply, plunging 60 per cent in 2024, as the Dangote Refinery begins to transform the country’s fuel supply landscape.
New data from TradeMap shows Nigeria imported about $818 million worth of petroleum products from Malta in 2024, down from more than $2.1 billion in 2023.
A 2023 Surge That Raised Questions
For years, Nigeria recorded virtually no fuel imports from Malta. That changed abruptly in 2023 when imports spiked to $2.1 billion.
The sudden surge triggered controversy. Industry watchers pointed to alleged “blending” operations and unusual fuel routing. Dangote Group chairman Aliko Dangote even alleged that some traders, NNPC personnel and terminals operated blending facilities in Malta.
The episode raised concerns about transparency, forex leakages and supply-chain integrity.
Dangote Refinery Begins to Shift the Market
The 650,000-bpd Dangote Petroleum Refinery, Africa’s largest, began output of diesel and aviation fuel earlier in 2024, with petrol production following soon after.
Energy analysts say the refinery is already reshaping Nigeria’s import profile:
- Nigeria’s petrol import bill fell 54 per cent year-on-year in Q1 2025, thanks in part to Dangote’s production.
- Seaborne imports of clean petroleum products fell 39 per cent in the first seven months of 2025 compared with the same period in 2024.
“As domestic refining builds up, importation becomes less urgent,” said Jide Pratt, Country Manager at TradeGrid and COO of AIONA.
He noted, however, that PMS supply still depends heavily on Dangote until NNPC revives its own refineries.
A Structural Shift Underway
The 60 per cent plunge in Malta-origin petrol imports aligns with Dangote’s rising output, and signals a broader reset in Nigeria’s downstream sector.
With the refinery steadily scaling production, Nigeria’s seaborne petrol imports have dropped to an eight-year low. The growing domestic supply is beginning to replace European shipments and is positioning Nigeria to potentially become a net exporter of refined fuel for the first time in decades.
Meanwhile, crude loadings dip
In a separate development, Nigeria’s seaborne crude loadings averaged 1.676 million bpd in October, the lowest since April, according to S&P Global Commodities at Sea.
The country’s oil shipments have softened for two consecutive months after reaching a 2025 high of 1.873 million bpd in June.
