Nigeria’s total import from Malta rose was N766.81 billion in the third quarter of 2024, according to an analysis of the foreign trade statistics reports released by the National Bureau of Statistics (NBS).
Although the specific product imported from Malta was not disclosed by the NBS, there were earlier controversies on the sudden increase in Nigeria’s import from the small Southern European country, following an accusation by Aliko Dangote, chairman of Dangote Industries Limited, against Nigerian National Petroleum Company Limited (NNPCL).
Naijaonpoint observed that there was no record of import from Malta in the first and second quarters of 2024.
However, by the Q3 2024, the import from this country accounted for 5.23% of Nigeria’s total import of N14.67 trillion.
Malta was Nigeria’s fifth largest import trading partner in this quarter, according to the NBS.
The report read, “Analysis by trading partners reveals that imports from China were valued at N3,574.79 billion, representing 24.36% of total imports. This was followed by imports from India with N1,662.68 billion (11.33% of total imports), Belgium with imports valued at N1,632.89 billion or 11.13% of total imports, United States of America with goods valued at N1,024.44 billion (6.98% of total imports) and goods from Malta valued at N766.81 billion or 5.23% of total imports.”
Naijaonpoint further observed that the figure recorded in Q3 2024 is the highest value of import from Malta on record.
Naijaonpoint further observed that the import from Malta was 8.41% of the total import from Europe, which was about N12.25 trillion in 2023.
In the first quarter of 2023, Nigeria’s imports from Malta recorded a value of zero, representing 0% of the total imports for that period. This lack of imports set a stark contrast for the subsequent quarters.
By the second quarter, import from Malta was N181.55 billion, accounting for 3.17% of Nigeria’s total imports for the period.
For these three quarters, Nigeria’s total imports was N29.45 trillion, which further suggest that the percentage of imports from Malta was about 3.5% of total imports within that period.
The unexpected spike in imports from Malta, a country not typically known for its prominence in global oil markets, caused a stir and spurred speculation.
He also dismissed any knowledge of NNPCL employees being involved in such activities. Kyari asserted that the blending plant in Malta, or any similar facility worldwide, has no impact on NNPCL’s operations or strategic decisions.