Oilden Energies Limited has entered the retail segment of Nigeria’s lubricant market as part of a new strategy to expand its footprint in the oil and gas sector.
At a product launch in Lagos, the company unveiled its flagship lubricants, AE 20W-50, SAE 5W-30, and two-stroke engine oil, which it claimed are designed to deliver higher specifications and durability compared to existing market offerings.
Oluwatoni Oladiran, CEO of Oilden, said the move will help combat product adulteration and strengthen the company’s relevance in the sub-sector.
He said: “Already we have those products flooding the market, but having in mind the other side of introducing products in the market, adulteration, counterfeiting. We are supposed to present our products in a position such that they cannot be adulterated and to minimise counterfeiting.”
Speaking on the products, he stated that “The quality of products we are introducing, like the 20W-50, is semi-synthetic. It lasts longer in your vehicle. Equally, the 5W-30 and the two-stroke have a higher specification than the one on the market.”
Alongside the retail push, Oilden also announced the creation of a new subsidiary, Oilden Shallow and Deep Water Ltd, to serve Nigeria’s growing maritime industry.
According to the parent company, the subsidiary will provide shipyard services, underwater engineering, diesel engine repairs and marine consultancy.
The company disclosed that it has acquired a fleet of maritime equipment, including PSVs, tugboats, barges, and vessels, and is preparing to deploy Africa’s largest dump barge, with a 50,000-metric-ton capacity, before year-end.
“Primarily, that is what Oilden Shallow and Deep Water Services will bring to the people of Nigeria and people of the continent at large,” he said.
“It would have the capacity for 50,000 metric tons. I don’t think I’ve seen any African company that has done that. And God helping us, we’ve been able to come up with something stronger and better. Now, the services are in shallow waters and deep waters.”
Idowu Dalegan, CEO of Shell Barge Group and an executive with Oilden Energies, said the shift from business-to-business to retail distribution would make its lubricants more widely available across Nigeria, while the new subsidiary positions the company as a key player in both shallow and deepwater operations.
