Oil and Gas stocks on the Nigerian Exchange
Upstream producers and downstream marketers in Africa's largest oil economy.
All Oil and Gas stocks on the NGX
| Ticker | Price | Change | Volume | Market Cap |
|---|---|---|---|---|
| SEPLAT Seplat Energy Plc |
₦16,000.10 | +0.00% | 806 | ₦9.60T |
| ARADEL Aradel Holdings Plc |
₦1,377.00 | +0.00% | 13,616 | ₦5.98T |
| OANDO Oando Plc |
₦35.00 | +0.00% | 88,815 | ₦435.10B |
| TOTAL TotalEnergies Marketing Nigeria Plc |
₦518.40 | +0.00% | 2,578 | ₦176.01B |
| CONOIL Conoil Plc |
₦210.00 | +0.00% | 905 | ₦145.73B |
| ETERNA Eterna Plc |
₦40.05 | +0.00% | 56,276 | ₦52.23B |
| JAPAULGOLD Japaul Gold & Ventures Plc |
₦2.56 | -3.76% | 625,604 | ₦36.51B |
About Oil and Gas on the NGX
Oil and Gas on the NGX is split between two camps. Upstream is led by Seplat Energy — by far the largest E&P name after its acquisition of MPNU assets — alongside Aradel Holdings and a handful of marginal-field operators. Downstream and midstream are the marketers and depot operators: Conoil, Eterna, MRS Oil, TotalEnergies Marketing Nigeria, Oando, Japaul Gold and Eunisell.
The sector's macro setup is unusually rich. The 2023 PMS subsidy removal restored downstream margins for the first time in over a decade. The Petroleum Industry Act (PIA) reshaped royalties and tax for upstream players. Refining is back on the agenda thanks to the Dangote and modular refineries coming on stream. Combined with Brent oil prices in the $70–90 range and a more competitive dollar earnings stream, the sector has been one of the strongest performers on the NGX since the naira float.