Downstream Oil and Gas in Nigeria Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Downstream Oil and Gas Companies in Nigeria and the market is segmented by sector (refining, petrochemicals, and retail sales). The report offers the market size and forecasts for refining capacity (thousand barrels per day).

Downstream Oil and Gas in Nigeria Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Nigeria Oil & Gas Downstream Market Size

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Nigeria Oil And Gas Downstream Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 1.18 Million barrels per day
Market Volume (2030) 1.40 Million barrels per day
CAGR 3.50 %
Market Concentration High

Major Players

Nigeria Oil And Gas Downstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Nigeria Oil & Gas Downstream Market Analysis

The Nigeria Oil And Gas Downstream Market size is estimated at 1.18 million barrels per day in 2025, and is expected to reach 1.40 million barrels per day by 2030, at a CAGR of 3.5% during the forecast period (2025-2030).

Due to regional lockdowns and a decline in demand for refined petroleum products, the COVID-19 outbreak had a negative effect on the market. Currently, the market has rebounded to pre-pandemic levels.

  • The government's strong desire to have a well-established domestic refining industry will be one factor driving the market during the forecast period.At the moment, Nigeria imports almost all of its petroleum products because major refineries are having trouble keeping up with maintenance. Also, the upcoming refinery capacity expansion projects can steer the growth.
  • However, the fluctuating price of crude oil may impede the development of the downstream sector.
  • The popular idea of modular refineries can be a great way to deal with sudden changes in product demand and can also be set up quickly. Nigeria's huge oil reserves assure a sustainable supply of crude oil for refining input.

Nigeria Oil & Gas Downstream Industry Overview

The Nigerian oil and gas downstream market is consolidated. Some of the major players in the market include (in no particular order) the Nigerian National Petroleum Corporation (NNPC), KBR Inc., NDEP PLC, Indorama Eleme Petrochemicals Limited, and Midoil Refining & Petrochemicals Company Limited.

Nigeria Oil & Gas Downstream Market Leaders

  1. NDEP plc

  2. Nigerian National Petroleum Corporation

  3. Indorama Eleme Petrochemicals Limited.

  4. KBR Inc.

  5. Midoil Refining & Petrochemicals Company Limited

  6. *Disclaimer: Major Players sorted in no particular order
Nigeria Oil And Gas Downstream Market Concentration
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Nigeria Oil & Gas Downstream Market News

  • August 2022: The Nigerian National Petroleum Company announced that the Dangote Refinery is expected to start commercial operations by mid-2023. The refinery project is one of the largest in Africa, with a refining capacity of 650,000 barrels per day.
  • November 2022: Nigeria's Gasoline Integrated International announced that the company plans to build a USD 68 million refinery on Tongeji Island. The refinery will have an initial refining capacity of 100,000 liters per day and other petroleum products, which will be expanded to 400,000 liters per day.

Nigeria Oil & Gas Downstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Refining Capacity and Forecast, in million barrels per day, till 2028
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Key Projects Information
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Rising Demand for Increaing Refinening Capacity
    • 4.6.1.2 Increasing Investment in Downstream Sector
    • 4.6.2 Restraints
    • 4.6.2.1 Fluctuating Price of Crude Oil May Impede the Development of the Downstream Sector
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION BY SECTOR

  • 5.1 Refining
  • 5.2 Petrochemical
  • 5.3 Retail Sales

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Nigerian National Petroleum Corporation
    • 6.3.2 KBR Inc.
    • 6.3.3 Indorama Eleme Petrochemicals Limited
    • 6.3.4 Midoil Refining & Petrochemicals Company Limited
    • 6.3.5 NDEP PLC
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Increasing Focus over Modular Refineries
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Nigeria Oil & Gas Downstream Industry Segmentation

Downstream operations are oil and gas processes that occur after the production phase to the point of sale. They are the final step in extracting the oil and gas from the ground and delivering them to the end user.

The Nigerian oil and gas downstream market is segmented by sector. By sector, the market is segmented into refining, petrochemical plants, and retail sales. The market sizing and forecasts have been done based on refining capacity (million barrels per day).

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Nigeria Oil & Gas Downstream Market Research FAQs

How big is the Nigeria Oil And Gas Downstream Market?

The Nigeria Oil And Gas Downstream Market size is expected to reach 1.18 million barrels per day in 2025 and grow at a CAGR of 3.5% to reach 1.40 million barrels per day by 2030.

What is the current Nigeria Oil And Gas Downstream Market size?

In 2025, the Nigeria Oil And Gas Downstream Market size is expected to reach 1.18 million barrels per day.

Who are the key players in Nigeria Oil And Gas Downstream Market?

NDEP plc, Nigerian National Petroleum Corporation, Indorama Eleme Petrochemicals Limited., KBR Inc. and Midoil Refining & Petrochemicals Company Limited are the major companies operating in the Nigeria Oil And Gas Downstream Market.

What years does this Nigeria Oil And Gas Downstream Market cover, and what was the market size in 2024?

In 2024, the Nigeria Oil And Gas Downstream Market size was estimated at 1.14 million barrels per day. The report covers the Nigeria Oil And Gas Downstream Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Nigeria Oil And Gas Downstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Downstream Oil and Gas in Nigeria Industry Report

Statistics for the 2025 Nigeria Oil And Gas Downstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria Oil And Gas Downstream analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.