Matrix Energy faces criticisms for allegedly importing bad fuel from Malta

Matrix Energy faces criticisms for allegedly importing bad fuel from Malta

Matrix Energy Group, an independent oil marketing firm, is under fire over  allegations of importing substandard petroleum products to Nigeria.

The company is accused of importing off-spec (low-quality) petroleum products from Russia taken to Malta for blending before shipping to Nigeria.

Reports showed importations of fuel from Malta to Nigeria between July 14 and August 3, 2024.

The petroleum products imported into Nigeria, including Premium Motor Spirit (PMS), diesel, and Jet A-1 fuel from Russia via Malta were said to be substandard.

For instance, diesel from Russia is typically off-spec and is often corrected or taken through another refining in places like Lome and Malta by blending with other components.

Matrix Energy Group is owned by Abdulkabir Adisa Aliu, who is also a member of the Presidential Economic Coordination Council (PECC). Aliu serves as the Group Managing Director/CEO and overseas operations at a 150-million-liter capacity depot in Warri, known as Bluefin Depot, three ships (Matrix Pride, Matrix Triumph, Matrix S.ILU), and around 600 trucks.
Sources said Matrix Energy is heavily involved in importing Russian products through various blending locations.

An oil blending plant is a facility that blends re-refined oil with additives to create finished lubricant products.

It can be used to blend re-refined oil (a used motor oil that has been treated to remove dirt, fuel, and water) with additives to create finished lubricant products.

A report refers to a Bill of Lading dated July 14, 2024, indicating a little-known company, Poly Pro Trading registered in the Dubai Free Trade Zone shipped petroleum products from Malta to Nigeria.

In the Bill of Lading, over 200 million liters of PMS were shipped on the vessel named ROMEOS from Malta to Nigeria. The product was said to be off-specification petrol.

The company’s listed office at OneJLT Towers 05.015, Dubai, is a business centre without any physical presence.

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The Bill of Lading was signed by Alkas Marine Middle East FZE as agents for and on behalf of Master of MT ROMEOS Captain Richard Torrento.
ROMEOS (IMO: 9326897) is a Crude Oil Tanker and is sailing under the flag of Liberia.

Matrix Energy is said to have a link with Poly Pro Trading and ROMEOS to import the fuel to Nigeria through Pinnacle Jetty, Lekki, Lagos.

Aliu has been reportedly leveraging his close connections with top management of the Nigerian National Petroleum Company Ltd (NNPCL) to secure crude oil cargoes for his company from the national oil company.

An X user, Arewa Daddy, wrote that Aliu seems to be a long player in fuel importation/subsidy scam in Nigeria. According to him, he found on the Facebook page of the special fraud unit Lagos dated 12th October 2020, that Aliu was among those being prosecuted for oil subsidy scam then.

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Nigeria’s total import from Malta rose from zero to about N1.03 trillion in 2023, according to reports released by the National Bureau of Statistics (NBS).

This is as controversy continues to trail the sudden increase in Nigeria’s import from the small Southern European country, following a recent accusation by Aliko Dangote, chairman of Dangote Industries Limited, against Nigerian National Petroleum Company (NNPC) Limited.

Dangote also alleged that a cabal in the oil sector had commissioned blending plants and terminals in Malta for shady dealings.

But Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Mallam Mele Kyari, said that he had no blending plant in Malta or any other part of the world.

The NBS reports showed that Nigeria’s total import for 2023 was N35.92 trillion, indicating about 2.87% of Nigeria’s total imports were from Malta, despite no record of any international trade between the two countries in 2022.

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Matrix Energy Group has denied that it imported substandard petroleum products to Nigeria.

A statement by the Head of Corporate Communications of the firm, Ibrahim Akinola, read in part, “We have never been found wanting in this regard. Our commitment to quality is reflected in the fact that none of our customers has ever rejected our products.

“Indeed, demand for Matrix products often exceeds our capacity to supply, a testament to our reputation for reliability. This success is equally reflected in our fertilizer businesses.
“Contrary to reports, Matrix Energy has never imported or distributed any substandard cargo in our two decades of operation.

“Our depots boast a storage capacity of 150 million liters of liquid products, including LPG and bitumen. However, contrary to the claims made in the publication, we did not discharge 200,000 metric tons of PMS into our facility in July 2024.

“While we have the capacity and customer base to handle such volumes, Matrix Energy has never imported or distributed any substandard cargo in our two decades of operation.”

Matrix Energy faces criticisms for allegedly importing bad fuel from Malta