Claims Surface: Tinubu’s Economic Council Member Involved In Malta Petrol Deal

Claims Surface: Tinubu’s Economic Council Member Involved In Malta Petrol Deal

A report has surfaced alleging that Abdulkabir Adisa Aliu, a member of the Presidential Economic Coordination Council (PECC), is among the largest importers of petrol from Malta. This follows earlier claims by Aliko Dangote, chairman of Dangote Petroleum Refinery, who suggested that Nigerian National Petroleum Company Ltd (NNPCL) officials, oil traders, and terminals have set up a blending plant in Malta……. CONTINUE READING

It is important to note that an oil blending plant differs from a refinery as it combines re-refined oil with additives to produce finished lubricants. Mele Kyari, the group chief executive officer of NNPC, promptly refuted Dangote’s assertions, stating he has no financial interest in any Maltese facility.

In 2023, Nigeria’s petrol imports from Malta rose sharply to $2.8 billion, a significant increase from zero between 2017 and 2022 and only $13.32 million in 2016.

According to The Cable, Aliu, owner of Matrix Energy and a member of President Bola Tinubu’s Economic Council, is one of the largest importers of petrol from Malta. In an interview with the publication, Aliu denied any misconduct and promised a detailed response to their inquiries.

An insider provided confidential documents revealing that over 200,000 tonnes of petrol from Malta were unloaded at Matrix’s jetty in Warri, Delta State, in July 2024 alone. This amount represents roughly 25 percent of Nigeria’s monthly petrol consumption, yet Matrix operates only 150 retail stations.

The insider also noted that Aliu appears to be leveraging his connections with NNPCL’s top management to secure crude oil allocations for Matrix Energy. Monthly allocations are reportedly traded through Gulf Transport & Trading (GTT), a UAE-based trading company. According to the insider, two out of three crude cargoes of the newly introduced Utapate grade were allocated to GTT, sold at a $3 per barrel premium. This translates to an estimated annual gain of $150 million or ₦240 billion at the current exchange rate.

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