Sector
Oil & Gas
Integrated upstream-to-downstream value chain undergoing structural reform via PIA, indigenous divestments, and Dangote Refinery.
10 sub-sectorsBullishRisk: Elevated
Market size
₦162.0T
YoY growth
+18.2%
Forecast (12m)
+14.4%
EBITDA margin
24.6%
Sentiment score
+58
Risk score
56/100
Sector summary
Integrated upstream-to-downstream value chain undergoing structural reform via PIA, indigenous divestments, and Dangote Refinery.
Key drivers
- ●Production recovery
- ●Dangote Refinery ramp
- ●Subsidy removal
- ●Gas commercialisation
Top risks
- ●Oil price volatility
- ●Niger Delta security
- ●Decommissioning liabilities
- ●FX for product imports