…Eyes 67% of Nigeria’s lubricant Market
Oilden Energies, a Nigerian-owned petroleum services company, has said it is on track to expand its lubricant production capacity to 60,000 metric tonnes annually by 2028, a move expected to secure the company a 67 percent share of the domestic industrial grease and lubricant market.
Speaking at a press briefing in Lagos ahead of the firm’s official brand launch and unveiling of a new subsidiary on August 15, Group Chairman, Oluwatoni Oladiran, said the planned capacity upgrade will strengthen Oilden’s position in Nigeria and deepen its reach across West and Central Africa.
“Our state-of-the-art lubricant plant currently produces over 40,000 metric tonnes annually when operating at full capacity, meeting 25 percent of Nigeria’s industrial grease and lubricant demand,” Oladiran said. “By 2028, we will expand to 60,000 metric tonnes, enabling us to capture 67 percent of the domestic market while growing our export footprint.”
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He said the growth plan is anchored on innovation, strict adherence to global quality standards, and a skilled workforce, with all Oilden facilities meeting or exceeding API, ISO, and NLGI specifications.
Oladiran emphasised that one of Oilden’s competitive advantages is shielding clients from exchange rate volatility through robust local production and an integrated supply chain. “Over the past year, while competitors’ prices swung by up to 60 percent, Oilden maintained pricing within a 30 to 35 percent range, ensuring uninterrupted supply and predictable budgeting for clients.”
The company supplies lubricants to a range of sectors, including manufacturing, construction, transportation, marine, agriculture, power generation, mining, steel production, and petroleum. Its product portfolio spans industrial greases, crankcase oils, marine oils, hydraulic oils, gear oils, and compressor oils, in addition to providing marine logistics and procurement services for the oil and gas industry.
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Oilden aims to become Africa’s leading lubricants supplier and one of the top 30 globally by 2030. The African lubricants market is valued at $4.2 billion annually, with Nigeria accounting for more than 600 million litres in consumption.
“Our promise is to innovate relentlessly, expand strategically, and serve our clients with integrity, efficiency, and unmatched quality,” Oladiran said, inviting stakeholders to partner with Oilden in driving industrial growth and self-sufficiency.”
