Hyde Energy is one of the key players in Nigeria’s midstream and downstream oil industry, driving strategic investments in infrastructure, supply chain efficiency, and energy solutions. With a diversified portfolio spanning crude oil, refined products, lubricants, and gas, the company continues to expand its reach both locally and internationally.
In this exclusive interview, Oladimeji Edwards, CEO of Hyde Energy, speaks on the company’s recent projects, the evolving energy landscape, and Hyde Energy’s role in shaping the future of Nigeria’s energy sector. Dipo Oladehinde excerpts.
Two years after fuel subsidy removal and with the recent changes in local refining capacity, how has the market landscape evolved for Hyde Energy?
The removal of fuel subsidies has reshaped Nigeria’s energy sector by fostering a more competitive and transparent market. While it presented initial cost pressures, it has also encouraged efficiency and innovation in fuel supply and pricing strategies.
The development of local refining capacity, particularly with the anticipated impact of the Dangote Refinery and modular refineries, is gradually reducing import dependency. At Hyde Energy, we have adapted by strengthening our supply chain partnerships, optimizing procurement strategies, and enhancing our service offerings to remain competitive in this evolving landscape.
Your company has invested heavily in infrastructure across different segments—from tank farms to retail outlets. What’s driving these investments, and what returns are you seeing?
Our infrastructure investments are driven by the need to create a seamless and efficient energy supply chain. They are also driven by our belief in the long-term potential of Nigeria’s energy market. We see a growing demand for reliable energy solutions, and infrastructure is key to ensuring supply chain efficiency and product availability. Our retail expansion enhances customer access to quality fuels and lubricants, while our storage facilities improve distribution capabilities.
Acquiring tank farms, expanding our retail footprint, and strengthening our distribution channels leads to improved operational efficiency. More importantly, they enable us to support Nigeria’s evolving energy needs while maintaining a competitive edge.
Hyde Energy operates across crude oil, refined products, lubricants, and gas. Which of these businesses is currently your strongest performer, and why?
While all our business segments contribute to our growth, our Liquefied Petroleum Gas (LPG) and lubricants divisions have seen the most significant traction in recent years. The rising adoption of LPG as a cleaner energy source has fueled demand for our gas products, while our premium lubricants continue to gain market share due to their quality and reliability. Our ability to innovate and offer differentiated solutions has been key to driving growth in these areas.
Hyde Energy has established a strong footprint in Nigeria’s midstream and downstream oil industry. How do your recent achievements, including the launch of three gas plants recently, reflect your broader vision for the country’s energy landscape?
At Hyde Energy, our vision is to play a pivotal role in shaping Nigeria’s energy future. The launch of our three gas plants recently brings to 21 the total number of our LPG gas plant across the country and that is a testament to our commitment to energy accessibility and sustainability.
By expanding our LPG distribution network, we are addressing the increasing demand for cleaner energy alternatives while also reinforcing Nigeria’s transition to a more diversified energy mix. This milestone is part of a broader strategy to enhance energy security, reduce dependence on traditional fuels, and make gas more affordable for households and businesses.
There’s growing pressure for energy companies to adopt cleaner practices. How is Hyde Energy balancing profitability with environmental responsibility?
Sustainability is central to our growth strategy. While we remain committed to traditional energy solutions, we are actively expanding our footprint in cleaner energy alternatives. Our investments in LPG and gas infrastructure demonstrate our focus on lower-carbon energy sources that align with Nigeria’s energy transition goals.
We are also exploring renewable energy partnerships and innovative solutions to enhance energy efficiency and reduce environmental impact. We have integrated sustainability into our business model and aim to contribute meaningfully to Nigeria’s long-term energy evolution.
Your company has been expanding its retail presence. What’s your vision for the Hyde Energy brand in Nigeria’s competitive energy retail market?
Our vision is to establish Hyde Energy as a household name synonymous with quality, reliability, and innovation in Nigeria’s energy retail market. We are committed to delivering premium fuels and lubricants while enhancing customer experience through service excellence and digital innovation. As we continue to expand our retail footprint, integrate technology-driven solutions, and strengthen brand engagement, we aim to set new industry standards and become the preferred choice for Nigerian consumers.
Hyde Energy has consistently championed indigenous participation in Nigeria’s oil and gas sector. How does the company plan to build on this to further empower local expertise and capacity?
At Hyde Energy, we recognize that the growth of Nigeria’s oil and gas sector depends on building local expertise and strengthening indigenous participation. We remain committed to capacity development through skills transfer, strategic partnerships, and investment in local talent.
Our initiatives include workforce training programs, collaborations with Nigerian suppliers, and mentorship opportunities for young professionals in the industry. By fostering a strong ecosystem of local expertise, our aim is to contribute to Nigeria’s long-term energy security and economic development.
Your mechanic-focused campaign last year highlighted the importance of community engagement. How does the company plan to continue fostering relationships with end users and stakeholders in 2025?
Community engagement is at the heart of our business philosophy. Following the success of our mechanic-focused campaign, especially with the Nigeria Automobile Technicians Association (NATA) Lagos chapter, where we hosted the first ever Mechanics Football Championship in Lagos, we plan to deepen our relationships with end users through more targeted initiatives in 2025. This includes expanding our engagement with transport operators, fleet owners, and SMEs while leveraging digital platforms to enhance accessibility. We will also continue investing in corporate social responsibility (CSR) programs that empower communities and create shared value for stakeholders across our supply chain.
Looking ahead, what are the key opportunities you see for Hyde Energy in the evolving Nigerian energy sector?
The Nigerian energy sector is undergoing significant transformation, presenting multiple opportunities for growth. Key areas include the expansion of domestic refining capacity, the increasing adoption of gas as a cleaner energy alternative, and the growing demand for premium lubricants.
There’s also digital innovation and energy efficiency solutions that will play a crucial role in shaping the future. Hyde Energy is well-positioned to capitalize on these trends by investing in technology, expanding our product range, and reinforcing our commitment to sustainability.