Political Economist NG reporter has ferreted data and information from a tray of documents detailing how Matrix Energy, a relatively unknown company, has been shipping low quality petroleum products from Malta and Russia into Nigeria and smiling to the bank at the expense of Nigerians.
Recall that there had been a heated argument about the inflow of bad fuel into Nigeria which has caused vehicles and generators to malfunction with evidence of many Nigerians having to change the fuel pumps of their vehicles and carburetors of their generators. The bad fuel, petrol and diesel, were said to have high Sulphur content which is injurious to engines.
Documents seen by Political Economist NG reporter also showed that Matrix had been involved in the nation’s upstream where it enjoys the privileged of being a major exporter of Nigeria’s crude oil. Political Economist NG can confirm that about 4 crude cargoes per month are allocated to Matrix Energy by NNPC Limited and to avoid paying taxes in Nigeria, the crude allocations to Matrix are traded by Gulf Transport & Trading (GTT), a trading company registered in the UAE.
In the case of import of fuel, Political Economist NG can report that the imports were executed through intermediate ships and sometimes through intermediate companies like Poly Pro Trading DMCC registered in Dubai Free Trade Zone to avoid payment of taxes.
With a 150 million litre capacity depot in Warri (Bluefin Depot), three old ships (Matrix Pride, Matrix Triumph, Matrix S.ILU), and about 500 trucks, Matrix enjoys the rare privilege of importing about 25 percent of petrol consumed in Nigeria through a network of top Nigerians who share the spoils after every shipment.
Matrix Energy CEO
Documents revealed that Matrix owned by one Abdulkabir Adisa Aliu, a member of the Presidential Economic Coordination Council (PECC), has been very active in the nation’s downstream market with imports of Russian products through various blending locations. Ship tracking data seen by our reporter showed how a consignment of bad fuel was shipped into Nigeria from Russia.
In one of the shipments on May 26, 2024, the vessel “MT Kallos” loaded diesel from Novorossiysk, Russia. Diesel from Russia is typically off-spec (bad fuel) and is often corrected in places like Lome and Malta by blending with other components to reduce the Sulphur concentrate and ensure improved purity. But in this case, there was no correction done as the vessel immediately transloaded into Matrix ships immediately upon arrival at offshore Lome on June 16, 2024.
A total of 15,000 tons was transloaded into the vessel “Matrix Triumph” on 16th June which then discharged into Matrix Jetty in Warri on 21st June, the documents revealed.
Another 15,000 tons was transloaded into the vessel “Matrix Pride” on 19th June which later discharged into Obat Oil terminal on 22nd June.
Recall that import of bad diesel by Matrix was confirmed during the visit of members of the House of Representatives to the Dangote Refinery when they bought and tested diesel from Matrix filling stations and found the Sulphur levels to be above 2,653ppm (vs. requirement of 50ppm) and the flash point to be 61 (vs. requirement of 66
As Matrix was importing from Russia, it had its tentacles in Malta from where it also shipped into Nigeria sub-standard petroleum products which had dire consequences on vehicles and generators.
Documents showed that in July, 2024 alone, over 200,000 tons of petrol from Malta were discharged into the Matrix Jetty. This represents about 25% of Nigeria’s monthly PMS consumption allocated to a relatively small player with only 150 retail stations.
Malta has of late become the top European destination for blending and ship-to-ship (STS) transfers of sanctioned Russian oil and petroleum products ever since the Greek navy decided to stop such activities in their offshore zone.
About 35% of shipment into Malta is naphtha and other components which are blended into gasoline (petrol) to produce lower quality “African Spec.” This lower quality spec is then tran-shipped into various vessels for delivery into Nigeria to be sold to unsuspecting public who suffer frequent vehicle and equipment breakdowns.
In one of the transshipments, the vessel “Twinkle Star” loads from St. Petersburg on 20th March and transloads into the vessel “Northernlight” at Malta on 22nd May which then proceeded to Lagos. The vessel “Matrix Triumph” then loads from Northernlight in Lagos and discharges into a depot in Warri.
