The issue of rising fuel prices in Nigeria has continued to stir controversy, especially following recent claims about President Bola Ahmed Tinubu’s alleged private interests in the oil and gas sector. One of the most talked-about allegations is the claim that President Tinubu owns a refinery in Malta, a small island nation in Europe, which is reportedly run by members of his family.
Fuel Prices in Nigeria: Why They May Not Go Down Anytime Soon
Since the removal of fuel subsidies, Nigerians have faced a steady increase in the pump price of petrol. Many citizens and economic experts have urged the government to explore ways to reduce fuel costs. However, recent statements by Garus Gololo, coordinator of the Benue State chapter of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), suggest that fuel prices may not come down any time soon—not due to global market forces, but due to alleged vested interests by those at the helm of affairs.
Who Made the Allegation?
In an interview aired on ATP News, Garus Gololo accused President Tinubu of prioritizing personal financial gains over national interest. Speaking in Hausa during the interview, Gololo claimed that Tinubu’s influence in the oil sector is driven by his ownership of multiple oil-related businesses, including a refinery located in Malta, which he says is managed by Tinubu’s sons—Wale Tinubu and Kunle Tinubu Jr.
According to Gololo:
“Those who want the price of fuel to be reduced, it will not be reduced because the president owns Oando and has bought Agip… He has a refinery that Wale Tinubu and Kunle Tinubu Jr. run in Malta. Not even Nigeria, in Malta.”
The Malta Refinery Allegation: What Was Said?
Gololo further alleged that crude oil is exported from Nigeria to Malta, refined abroad, and then brought back into Nigeria to be sold at inflated prices. This, he claimed, is a strategic way for the president and his family to profit from the suffering of Nigerians:
“They take crude oil from Nigeria, refine it there [in Malta], bring it back, and sell it to us. This automatically means the price of fuel will not drop.”
The statement has triggered outrage and debates on social media and in political circles, with many demanding proof and government clarification on the matter.
READ MORE: Wife of Seyi Tinubu, Layal Tinubu Biography, Age, Career, Children
Oando and Agip: Are There Real Links?
The Tinubu family has long been associated—both officially and unofficially—with Oando Plc, one of Nigeria’s largest indigenous energy companies. Wale Tinubu, a known businessman, is the Group CEO of Oando and a relative of President Tinubu. While Oando’s acquisition of Agip’s Nigerian assets made headlines in 2023, it is important to note that no official documents publicly tie Bola Tinubu personally to the ownership or directorship of Oando.
Regarding Agip’s oil wells, Gololo alleged that Tinubu controls 17 wells in the Niger Delta, although this claim remains unsubstantiated by any publicly available records or government declarations.
Does Tinubu Own a Refinery in Malta?
As of now, no official evidence has confirmed the existence of a Tinubu-owned refinery in Malta. The claim remains an allegation by Gololo and has not been addressed by the presidency or any members of the Tinubu family.
However, the assertion that Nigeria’s crude oil is refined abroad and sold back to Nigerians is not new. Due to limited domestic refining capacity, Nigeria has long relied on fuel importation, even though it is Africa’s largest oil producer. The Dangote Refinery—currently under development—is expected to help reduce this dependency in the near future.
What This Means for Nigerians
If the allegations are true, it would raise serious questions about conflict of interest, transparency, and the future of fuel pricing in Nigeria. On the other hand, if the claims are unfounded, they still highlight a growing public distrust in political leadership and the opaque nature of Nigeria’s oil sector.
Final Thoughts
The conversation around fuel prices, oil sector privatization, and leadership accountability in Nigeria is complex. While Garus Gololo’s claims have stirred public interest, they remain unverified and controversial. Nigerians continue to call for increased transparency and a shift toward locally refined fuel to ease the economic burden on citizens.
Until official statements or evidence surface, the claim of a “Tinubu refinery in Malta” remains a subject of public speculation—but one that underscores the urgent need for reform in Nigeria’s oil and gas industry.
