Oilden aims for 67% of Nigeria’s lubricant market by 2028

Oilden Energies, a Nigerian petroleum services company, announced plans to boost its lubricant production to 60,000 metric tonnes annually by 2028, positioning it to capture 67% of Nigeria’s industrial grease and lubricant market.

The announcement came during a press briefing in Lagos on August 14, ahead of the company’s brand launch and the unveiling of a new subsidiary on August 15.

Group Chairman Oluwatoni Oladiran highlighted that Oilden’s state-of-the-art plant currently produces 40,000 metric tonnes annually, meeting 25% of domestic demand.

“This expansion will strengthen our leadership in Nigeria and expand our reach across West and Central Africa,” Oladiran said, emphasizing the company’s goal to become Africa’s top lubricant supplier and rank among the global top 30 by 2030.

Oilden’s integrated supply chain and local production have shielded clients from exchange rate volatility, maintaining price increases between 30–35% compared to competitors’ swings of up to 60%.

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The company serves diverse sectors, including manufacturing, construction, transportation, marine, agriculture, power generation, mining, steel production, and petroleum, offering products like industrial greases, crankcase oils, hydraulic oils, gear oils, and compressor oils, alongside marine logistics and procurement services for the oil and gas industry.

With Nigeria’s lubricant consumption exceeding 600 million litres annually within a $4.2 billion African market, Oilden’s strategic expansion aims to drive industrial growth and self-sufficiency.

“We are committed to relentless innovation, strategic growth, and delivering unmatched quality,” Oladiran said, inviting stakeholders to join Oilden’s transformative journey.