Lubricant Manufacturer, Oilden Energies, Eyes 67% of Nigeria’s Engine Oil Market

Peter Uzoho

Oilden Energies Limited, an indigenous producer and marketer of best-in-class lubricant products, has rolled out ambitious business development and expansion goals aiming, among others, to capture 67 per cent of the country’s domestic engine oil market by 2028.

The company said the goal would be achieved by expanding the capacity of its existing manufacturing plant located in Epe, Lagos State, from the current 40,000 metric tons per annum (mtpa) to 60,000mtpa.

Group Chairman of Oilden Energies Limited, Mr. Oluwatoni Oladiran, disclosed that yesterday in Lagos during a press conference heralding the unveiling of the company’s new subsidiary, slated to happen this Friday.

Oladiran stated that Africa’s lubricant market was currently valued at $4.2 billion annually, growing about 3.5 per cent per year, with Nigeria alone accounting for over 600 million litres in annual lubricant consumption.

He said, globally, the top 30 lubricant suppliers collectively accounted for over 70 per cent of global production capacity, and the goal of Oilden was to take its rightful place among them.

Oladiran stated, “Today is more than just a prelude to an event; it is a celebration of our heritage, our capabilities, and our determination to play a defining role in shaping Nigeria’s — and Africa’s — industrial and energy future.

“Oilden Energies Ltd. is proudly 100 per cent Nigerian-owned, with a simple but powerful mission: to deliver petroleum services of the highest quality — onshore and offshore — and provide world-class products at competitive prices for both domestic and international markets.

“Our vision is ambitious yet achievable: to be Africa’s leading lubricants supplier and to rank among the top 30 globally by 2030.”

He stated that the company was making measurable strides towards the goal laid out, stressing, “Our state-of-the-art lubricant plant currently produces over 40,000 metric tonnes annually when working at full capacity, meeting 25 per cent of Nigeria’s industrial grease and lubricant demand.

“By 2028, we are on track to expand capacity to 60,000 metric tonnes, enabling us to capture 67 per cent of the domestic market while deepening our footprint across West and Central Africa.

“This growth is powered by innovation, rigorous quality control, and a motivated workforce of highly skilled professionals dedicated to excellence.”

According to Oladiran, every of Oilden’s facilities, products and pieces of equipment are designed to meet or exceed API, ISO, and NLGI world-class standards.

He said one of the company’s strongest value propositions was price and supply stability, explaining that through robust local production and an integrated supply chain, they shield their clients from unpredictable dollar exchange rate fluctuations.

Over the past 12 months, the group chairman of Oilden Energies stated that while competitors’ prices fluctuated by as much as 60 per cent, Oilden’s clients enjoyed stable pricing within a 30 per cent – 35 per cent band, ensuring uninterrupted operations and reliable budgeting.

“Coupled with our prompt delivery time nationwide, we are redefining what it means to be a trusted industrial partner,” he stated.

Beyond lubricants, he said Oilden’s marine logistics services spanned both local and international waters with a fleet of dumb and ramp barges, PSVs, tugboats, and other specialised vessels.

Oladiran said, “We also offer procurement services for the oil and gas sector, sourcing and delivering critical equipment and materials with precision.

“Looking Ahead: At Oilden Energies Ltd., our promise is clear: to innovate relentlessly, expand strategically, and serve our clients with integrity, efficiency, and unmatched quality.

“We are here for the long term — to build enduring partnerships, create value for our stakeholders, and contribute to Nigeria’s industrial self-sufficiency.

“So today, I invite you — our partners and clients, to engage with us, explore new opportunities, and experience the difference that our unwavering commitment to excellence can make to your business.”