Nigeria’s oil stocks are crashing—but beneath the rubble, savvy investors may find rare value in overlooked, profit-making companies.
Oil and gas stocks are down over 10% in 2025, shedding nearly ₦750 billion in value. Only Eterna (+71%), JapaulGold (+47%), and Total (+1%) are positive. Others, like Conoil (-40%) and MRS (-31%), have plunged.
Yet valuations are compelling. The sector trades at ₦11 per ₦1 profit, vs. ₦33 in consumer goods. Price-to-book ratios also favor oil: 3x vs. 7x.
Still, high share prices (e.g., Seplat ₦5,000+) deter small investors, despite strong fundamentals.
All eight stocks remain below 52-week highs—potential upside for long-term buyers. But weak sentiment means recovery could take time.
Bottom line: Bargains may exist—but only with due diligence and patience.
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Oil & Gas Stocks Plunge in 2025—But Value Investors May Spot a Buying Opportunity
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