Oilden Energies Limited has disclosed plans to increase its lubricant production to 60,000 metric tonnes from 40,000 in Nigeria by 2028.
Group Chairman of the company, Oluwatoni Oladiran stated this at a press briefing heralding the launch of its new subsidiary last week.
He described the firm as an indigenous outfit, saying it was established to become a major key player through delivering petroleum services of the highest quality both onshore and offshore and providing 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 said.
He noted that the continent’s lubricants market is currently valued at $4.2 billion annually, growing at about 3.5 percent per year, saying that the country accounts for over 600 million litres in annual lubricant consumption.
According to him, plans are underway for the company to capture 67 percent of the country’s domestic market in the next three years.
“Globally, the top 30 suppliers collectively account for over 70% of global production capacity — our goal is to take our rightful place among them. By 2028, we are on track to expand capacity to 60,000 metric tonnes, enabling us to capture 67% of the domestic market while deepening our footprint across West and Central Africa,” he said.
He highlighted innovation, rigorous quality control, and a motivated workforce of highly skilled professionals dedicated to excellence as the recipes to achieve the firm’s goals.
“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,” he said.
