Matrix Energy Under Fire for Alleged Importation of Substandard Fuel from Malta

Matrix Energy Group, a prominent indigenous oil marketing and trading company, is facing serious allegations of importing substandard petroleum products into Nigeria. Recent media reports have linked the company to the importation of low-quality petroleum from Russia, which was allegedly blended in Malta before being shipped to Nigeria.

Confidential documents obtained by LEADERSHIP reveal that between July 14 and August 3, 2024, fuel shipments were made from Malta to Nigeria. Sources indicate that these imports, including Premium Motor Spirit (PMS), diesel, and Jet A-1 fuel, were substandard. The diesel, reportedly sourced from Russia, was described as “off-spec” and typically required blending at locations like Lome and Malta before being deemed fit for distribution.

Matrix Energy Group, led by Abdulkabir Adisa Aliu, who also sits on the Presidential Economic Coordination Council (PECC), operates a 150-million-liter capacity depot in Warri known as Bluefin Depot, among other assets. Sources allege that Matrix Energy is heavily involved in importing Russian petroleum products through various blending locations and has been leveraging connections within the Nigerian National Petroleum Company Ltd (NNPCL) to secure crude oil cargoes.

According to a Bill of Lading dated July 14, 2024, a little-known company, Poly Pro Trading, registered in the Dubai Free Trade Zone, shipped over 200 million liters of PMS from Malta to Nigeria. The shipment was reportedly received by Matrix Energy, with allegations that the product was off-specification petrol. Poly Pro Trading’s listed office in Dubai is said to be a business center with no physical presence, raising further concerns about the legitimacy of the operations.

Energy experts have condemned the alleged importation of substandard fuel, calling it an act of sabotage and a failure to meet the objectives of the Petroleum Industry Act (PIA). They urge that any company found guilty should face legal consequences.

Amid the allegations, an X user known as Arewa Daddy accused Aliu of being involved in a longstanding fuel importation and subsidy scam in Nigeria. Supporting this claim, a Facebook post by the Special Fraud Unit in Lagos dated October 12, 2020, listed Aliu among those prosecuted for an oil subsidy scam.

In response to the allegations, Matrix Energy Group has firmly denied any wrongdoing. In a statement, Ibrahim Akinola, Head of Corporate Communications, asserted that Matrix has consistently imported products that meet approved specifications. He emphasized that none of the company’s customers have ever rejected their products, which are in high demand due to their reliability.

“Matrix Energy has never imported or distributed any substandard cargo in our two decades of operation,” the statement read. Akinola also refuted claims that the company discharged 200,000 metric tons of PMS into its facility in July 2024, adding that Matrix remains committed to adhering to regulatory standards.

Matrix Energy Group is a fully indigenous company with substantial investments in infrastructure across Nigeria, including vessels, oil and gas terminals, and retail outlets in 28 states, including the Federal Capital Territory (FCT). The company prides itself on its ability to deliver on contracts at competitive prices, solidifying its strong position in the industry.