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Nigerian (NSE) Oil and Gas Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies4
  • 7D1.4%
  • 3M69.1%
  • 1Y122.1%
  • YTD69.7%

The Oil and Gas industry is up 1.4% in the last week, with Aradel Holdings up 1.5%. This means that the industry has gained 122% over the past year. Earnings are forecast to grow by 64% annually.

Industry Valuation and Performance

Has the Nigerian Oil and Gas Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026₦6.0t₦2.1t₦388.4b20x15.4x2.9x
Mon, 09 Mar 2026₦6.0t₦2.1t₦385.0b24.2x15.7x2.9x
Wed, 04 Feb 2026₦3.9t₦2.2t₦379.9b25.2x10.4x1.8x
Fri, 02 Jan 2026₦3.3t₦2.1t₦376.0b15.9x8.8x1.5x
Sun, 30 Nov 2025₦3.4t₦2.1t₦376.0b19x9x1.6x
Tue, 28 Oct 2025₦4.2t₦2.1t₦302.0b33.2x13.8x2x
Thu, 25 Sep 2025₦2.8t₦2.2t₦308.4b30.8x9.2x1.3x
Sat, 23 Aug 2025₦2.7t₦2.7t₦322.8b8.2x8.4x1x
Mon, 21 Jul 2025₦2.8t₦2.8t₦302.4b9.1x9.2x1x
Wed, 18 Jun 2025₦2.7t₦2.8t₦309.1b9.2x8.7x1x
Fri, 16 May 2025₦2.8t₦2.8t₦311.0b8.6x8.9x1x
Sun, 13 Apr 2025₦2.7t₦2.6t₦306.5b9.2x9x1.1x
Tue, 11 Mar 2025₦2.9t₦2.6t₦295.6b9.4x9.8x1.1x
Thu, 06 Feb 2025₦3.1t₦2.6t₦295.6b10x10.4x1.2x
Sat, 04 Jan 2025₦3.2t₦2.1t₦193.0b14.5x16.4x1.5x
Mon, 02 Dec 2024₦2.7t₦2.1t₦193.0b11.7x14.1x1.3x
Wed, 30 Oct 2024₦2.8t₦1.9t₦186.6b9.9x14.9x1.5x
Fri, 27 Sep 2024₦391.4b₦1.5t₦42.0b9.3x9.3x0.3x
Sun, 25 Aug 2024₦337.1b₦1.5t₦42.0b7.7x8x0.2x
Tue, 23 Jul 2024₦273.1b₦1.3t₦35.8b8.7x7.6x0.2x
Thu, 20 Jun 2024₦251.8b₦1.2t₦34.4b7.6x7.3x0.2x
Sat, 18 May 2024₦223.3b₦1.2t₦34.4b7x6.5x0.2x
Mon, 15 Apr 2024₦384.3b₦1.0t₦26.6b9.1x14.5x0.4x
Wed, 13 Mar 2024₦370.6b₦1.0t₦27.5b9.1x13.5x0.4x
Fri, 09 Feb 2024₦386.4b₦1.0t₦27.5b8.8x14.1x0.4x
Sun, 07 Jan 2024₦421.6b₦1.3t₦14.8b9.5x28.5x0.3x
Tue, 05 Dec 2023₦417.1b₦1.3t₦14.8b9.3x28.2x0.3x
Thu, 02 Nov 2023₦374.7b₦1.3t₦13.8b9.3x27.2x0.3x
Sat, 30 Sep 2023₦374.6b₦1.2t₦13.7b9x27.4x0.3x
Mon, 28 Aug 2023₦350.1b₦1.2t₦13.7b9x25.6x0.3x
Wed, 26 Jul 2023₦367.5b₦1.1t₦17.9b9.9x20.5x0.3x
Fri, 23 Jun 2023₦245.7b₦1.1t₦17.9b9.6x13.7x0.2x
Sun, 21 May 2023₦160.3b₦1.1t₦16.8b5.4x9.6x0.1x
Tue, 18 Apr 2023₦213.9b₦1.1t₦15.2b7.1x14.1x0.2x
Price to Earnings Ratio

14.1x


Total Market Cap: ₦213.9bTotal Earnings: ₦15.2bTotal Revenue: ₦1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Oil and Gas Industry Price to Earnings3Y Average 14.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the Nigerian Oil and Gas industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 14.4x.
  • The 3-year average PS ratio of 0.86x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have grown 192% per year over the last three years.
  • Revenues for these companies have grown 24% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Nigerian Energy industry?

NG Market0.86%
Energy1.26%
Oil and Gas1.41%
Oil and Gas Refining and Marketing0.032%
Oil and Gas Exploration and Production0%0
Oil and Gas Storage and Transportation0%0
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Oil and Gas Refining and Marketing industry, expecting annual earnings growth of 64% over the next 5 years.
    • This is better than its past earnings decline of 3.9% per year.
    • In contrast, the Oil and Gas Refining and Marketing industry is expected to see its earnings grow by 64% per year over the next few years.

    Top Stock Gainers and Losers

    Which companies have driven the market over the last 7 days?

    CompanyLast Price7D1YValuation
    		ARADEL Aradel Holdings₦1.28k1.5%
    +₦82.6b    		157.3%PE14x
    		ETERNA Eterna₦35.000.3%
    +₦130.4m    		8.4%PE20x

    Latest News

    ETERNA
    ₦35.00
    Eterna
    7D
    0.3%
    1Y
    8.4%
    OANDO
    ₦46.50
    Oando
    7D
    -4.1%
    1Y
    29.2%

    Oando Plc – Execution of PSC for Block KON 13 Marks Strategic Entry into Angola’s Upstream Sector

    Author: Qudus Adebara (Research Analyst, DLM Capital Group) Oando Plc has executed a Production Sharing Contract (PSC) for Block KON 13 with the Angolan National Agency for Petroleum Gas and Biofuels (ANPG), marking a major milestone in its expansion into Angola’s upstream oil and gas sector. The agreement formalises Oando’s participation in the exploration and development of the block, located in the onshore Kwanza Basin, and represents the company’s first operated international upstream joint venture.
    ARADEL
    ₦1,279.00
    Aradel Holdings
    7D
    1.5%
    1Y
    157.3%