Nigeria Commercial Vehicles Lubricants Market Analysis
The Nigeria Commercial Vehicles Lubricants Market size is estimated at 157.53 million liters in 2025, and is expected to reach 183.78 million liters by 2030, at a CAGR of 3.13% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in Nigerian CV fleets since it is used in large quantities in heavy-duty trucks and is refilled frequently than other product types.
- Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is predicted to be the highest among all product types in the Nigerian CV sector, as penetration of automatic and used cars is expected to rise.
Nigeria Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Nigeria, commercial vehicles (CV) form the largest segment in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption increased at a CAGR of around 1.1% in the CV segment, majorly driven by the growing freight transportation in the country.
- The commercial vehicle lubricant consumption declined by 4.95% as COVID-19 affected freight transportation in 2020. The engine oil segment accounts for more than 70% of CV lubricant consumption. A major decline of 9.9% was observed in the consumption of greases in the CV segment during the year.
- During 2021-2026, the transmission oil segment is likely to be the fastest-growing product type, exhibiting a CAGR of 4.2%. The recovery in usage and production of commercial vehicles will likely drive the consumption of transmission over the coming years.
Nigeria Commercial Vehicles Lubricants Industry Overview
The Nigeria Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 65.46%. The major players in this market are 11Plc, Ardova Plc, MRS OIL NIGERIA PLC, Oando PLC and TotalEnergies (sorted alphabetically).
Nigeria Commercial Vehicles Lubricants Market Leaders
11Plc
Ardova Plc
MRS OIL NIGERIA PLC
Oando PLC
TotalEnergies
- *Disclaimer: Major Players sorted in no particular order
Nigeria Commercial Vehicles Lubricants Market News
- November 2021: Ardova PLC acquired Enyo Retail & Supply Limited in 2021. This acquisition adds Enyo's 95 retail stations to Ardova's existing 450 stations, growing its portfolio to 545 stations nationwide.
- March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
- November 2020: Ardova signed a lubricants deal with Shell in Nigeria, and Ardova PLC (AP) will be the distributor of Shell lubricants in the country.
