Nigeria’s oil and gas sector remains the backbone of its economy, driving growth, employment, and foreign exchange. If you’ve been wondering, “Which are the richest oil and gas companies in Nigeria 2025?” or “What is the net worth of Nigeria’s top oil companies this year?” this detailed guide breaks down everything. We explore the leading oil and gas firms shaping Nigeria’s energy landscape, their financial standing, business operations, and how they maintain dominance in one of Africa’s most lucrative industries.
Why Focus on 10 Richest Oil and Gas Companies in Nigeria 2025?
Understanding the 10 richest oil and gas companies in Nigeria 2025 gives insight into the powerhouses fueling the country’s economy. These companies not only generate billions in revenue but also influence energy policies, foreign investments, and infrastructure development. By highlighting these firms, this list sheds light on the key players leading Nigeria’s oil and gas boom, their growth strategies, and the scale of their operations.
10 Richest Oil and Gas Companies in Nigeria 2025 (Updated List)
Here’s an expanded and up-to-date list of Nigeria’s wealthiest oil and gas companies based on market capitalization, revenue, assets, and operational footprint in 2025.
1. Nigerian National Petroleum Corporation (NNPC) — Net Worth: Over ₦10 Trillion
NNPC remains Nigeria’s state oil giant and the largest in the country. It oversees exploration, production, refining, and distribution of petroleum products nationwide.
Revenue streams:
Crude oil exploration and export
Refining and distribution of petroleum products
Joint ventures with multinational oil firms
Gas monetization projects
NNPC’s strategic government backing secures its dominant position.
2. Shell Petroleum Development Company of Nigeria (SPDC) — Net Worth: ₦3.5 Trillion
As a subsidiary of Royal Dutch Shell, SPDC is a leading multinational in Nigeria’s oil sector with extensive upstream and downstream operations.
Key income sources:
Crude oil production
Gas exploration and export
Petrochemical manufacturing
Joint ventures with NNPC and partners
Shell’s technology and global reach boost its Nigerian operations.
3. Chevron Nigeria Limited — Net Worth: ₦2.8 Trillion
Chevron is one of Nigeria’s top foreign oil companies with significant exploration and production activities.
Earnings from:
Offshore oil fields
Liquefied natural gas (LNG) projects
Gas-to-power initiatives
Joint ventures and production sharing contracts
Chevron’s innovation drives Nigeria’s energy sector forward.
4. TotalEnergies Nigeria — Net Worth: ₦2.5 Trillion
TotalEnergies holds a major stake in Nigeria’s oil and gas production, with investments in exploration, refining, and renewables.
Income streams:
Crude oil extraction
Natural gas production
Petrochemical manufacturing
Investment in clean energy projects
TotalEnergies balances traditional oil with future energy trends.
5. ExxonMobil Nigeria — Net Worth: ₦2 Trillion
ExxonMobil remains a strong player in Nigeria with deep offshore operations and LNG investments.
Revenue sources:
Deepwater oil production
LNG processing and export
Refinery operations
Technology-driven exploration
ExxonMobil’s expertise sustains its competitive edge.
6. Oando PLC — Net Worth: ₦1.2 Trillion
Oando is Nigeria’s largest indigenous integrated energy company with upstream, midstream, and downstream assets.
Revenue comes from:
Oil exploration and production
Fuel marketing and distribution
Gas processing and trading
Power generation
Oando’s diversified portfolio secures steady growth.
7. Conoil PLC — Net Worth: ₦800 Billion
Conoil focuses on petroleum marketing and downstream services with a growing footprint in exploration.
Earnings from:
Fuel retail outlets
Lubricant manufacturing
Oil and gas exploration
Gas distribution
Conoil’s market reach underpins its wealth.
8. Eterna PLC — Net Worth: ₦750 Billion
Eterna operates in refining, marketing, and fuel distribution with strong investments in retail outlets.
Sources of income:
Fuel import and marketing
Lubricants and petrochemicals
Retail service stations
Joint ventures with other energy firms
Eterna’s customer base drives consistent revenue.
9. Seplat Energy — Net Worth: ₦700 Billion
Seplat Energy is a leading indigenous oil producer focusing on upstream exploration and production.
Revenue streams:
Crude oil production
Gas exploration and monetization
Joint ventures with multinational companies
Strategic partnerships
Seplat is a benchmark for Nigerian indigenous oil firms.
10. Sahara Energy Group — Net Worth: ₦600 Billion
Sahara Energy operates across oil exploration, production, and power generation sectors.
Earnings come from:
Upstream oil production
Energy infrastructure
Power generation projects
Fuel marketing
Sahara’s diversified operations enhance its financial standing.
How the 10 Richest Oil and Gas Companies in Nigeria 2025 Make Money
The richest oil and gas companies in Nigeria 2025 generate revenue through a mix of upstream activities (exploration and production), midstream operations (transportation and storage), and downstream ventures (refining, marketing, and distribution). Many also invest in gas monetization, petrochemicals, and clean energy initiatives. Their ability to navigate regulatory environments, secure joint ventures, and adopt advanced technologies ensures sustained profitability.
Conclusion: 10 Richest Oil and Gas Companies in Nigeria 2025 (Updated List)
To conclude, the 10 richest oil and gas companies in Nigeria 2025 continue to shape the country’s economic future with combined net worths running into trillions of naira. Their influence extends beyond energy production to job creation, infrastructure development, and energy security. Understanding these companies’ financial clout offers valuable perspective on Nigeria’s position in the global energy market.
Frequently Asked Questions (FAQs)
Which is the richest oil and gas company in Nigeria 2025?
NNPC leads with a net worth exceeding ₦10 trillion.How do Nigerian oil companies make most of their money?
Through crude oil exploration, production, refining, and distribution.Are indigenous companies as wealthy as multinationals in Nigeria?
Some, like Oando and Seplat, have grown substantially but multinationals still dominate.What sectors beyond oil production do these companies invest in?
Gas monetization, petrochemicals, power generation, and renewable energy.How does oil wealth impact Nigeria’s economy?
It drives foreign exchange earnings, government revenue, and infrastructure growth.