108 indexable Energy companies headquartered in Lagos, Nigeria, ranked by total equity funding and recent funding momentum. Combined disclosed equity funding of $1.3B across 14 funded companies.
| # | Company | Funding | Valuation | Stage | Latest round | Employees | Founded | Momentum |
|---|---|---|---|---|---|---|---|---|
| 1 |
Heirs Energies
Operator of upstream assets and exploration opportunities across the energy value chain |
$750M | — | Funding Raised | Conventional Debt Dec 2025 | — | 2021 | ↑ Active |
| 2 |
Starsight Energy
Developer of solar energy projects |
$35M | — | Funding Raised | Conventional Debt Mar 2026 | 275 | 2008 | ↑ Active |
| 3 |
ARNERGY
Provider of solar power solutions for residential and commercial |
$12M | — | Series B | Series B Apr 2025 | 101 | 2013 | ↑ Active |
| 4 |
Salpha Energy
Manufacturer of LED lighting system |
$1M | — | Seed | Seed May 2025 | 21 | 2017 | ↑ Active |
| 5 |
Elektron
Operates energy infrastructure projects |
$18.8M | — | Series B | Series B Oct 2023 | — | 2011 | — |
| 6 |
LEKOIL
Oil and gas exploration & production company |
$198.4M | — | Public | Post IPO Oct 2016 | — | 2010 | — |
| 7 |
OVH Energy
Refined petroleum products marketing and distribution company |
$210M | — | Acquired | PE Jul 2016 | 312 | 2014 | — |
| 8 |
EarthBond
Provider of financial services for solar energy to commercial and residential customers |
$400K | — | Seed | Seed Oct 2024 | 2 | 2022 | ↑ Active |
| 9 |
MBH Power
Provider of energy solutions for the power sector |
$19.9M | — | Funding Raised | Grant (prize money) Sep 2021 | 71 | 2004 | — |
| 10 |
First Hydrocarbon Nigeria
Oil & gas production & exploration company |
$50M | — | Late Stage | PE Jan 2012 | 250 | 2009 | — |
| 11 |
Energy Link
Provider of midstream infrastructure and crude transportation services |
$17M | — | Series B | Series B Jun 2021 | 12 | 2016 | — |
| 12 |
Rensource Energy
Membership based solar power project developer |
$23.5M | — | Series A | Series A Dec 2019 | 95 | 2015 | — |
| 13 |
Astrum Solar
Offers solar installation services for residential customers |
$12.5M | — | Acquired | Series A Nov 2013 | 161 | 2007 | — |
| 14 |
Green Energy BioFuels
Developer of cellulosic ethanol from waste biomass |
$800K | — | Seed | Seed Apr 2016 | 5 | 2013 | — |
| 15 |
Oando Plc
Integrated energy services provider for oil & gas industry |
— | — | Public | Conventional Debt Nov 2023 | 1,018 | 1956 | — |
| 16 |
Ashipa Electric
Developer of solar energy projects |
— | — | Seed | Seed Apr 2022 | 12 | 2015 | — |
| 17 |
Amni
Independent oil and gas exploration and production company |
— | — | Funding Raised | Conventional Debt Mar 2018 | 19 | 1993 | — |
| 18 |
JapaulGroup
Facility engineering, hydrocarbon transportation & trading, and coal mining company |
— | — | Late Stage | Post IPO Feb 2018 | — | 1994 | — |
| 19 |
Africa Terminals
Provides reliable storage services for local and international petroleum products |
— | — | Late Stage | Feb 2016 | — | 2016 | — |
| 20 |
Broron Oil and Gas
Manufacturer and supplier of wood pulp |
— | — | Series A | Series A Dec 2013 | — | 2003 | — |
| 21 |
11PLC
Distributor of Mobil-branded fuels and lubricants |
— | — | Unfunded | — | 70 | 2017 | — |
| 22 |
A4&T
Provider of renewable energy solutions and backup power systems |
— | — | Unfunded | — | — | 2010 | — |
| 23 |
AED Technologies
Solar installer and service provider |
— | — | Unfunded | — | — | 2007 | — |
| 24 |
Aradel
Integrated indigenous energy company, formerly known as Exploration & Production offering career opportunities |
— | — | Funding Raised | — | — | 1992 | — |
| 25 |
ARCO
Facilitator of energy sector innovation projects |
— | — | Funding Raised | — | — | 1980 | — |
| 26 |
Ardova
Distributor of petrol, diesel, kerosene, and liquefied petroleum gas |
— | — | Acquired | — | 169 | 1964 | — |
| 27 |
Aspire Power Solutions
Provider of solar energy solutions and roofing services |
— | — | Funding Raised | — | 17 | 2016 | — |
| 28 |
Atlas Petroleum Exploration Worldwide
Company offers oil and gas resource development and production |
— | — | Acquired | — | — | 2003 | — |
| 29 |
Auxano Solar
Privately owned PV manufacturing company in Nigeria, specializing in solar energy solutions. |
— | — | Unfunded | — | 40 | 2016 | — |
| 30 |
Axxela Group
Natural gas distribution network operator |
— | — | Acquired | — | 94 | 2000 | — |
| 31 |
AYG LUXURY AUTO PLACE
Manufacturer of energy storage and solar solutions |
— | — | Deadpooled | — | — | 2022 | — |
| 32 |
Bell Oil & Gas
Provider of testing & inspection services for oil and gas sector |
— | — | Funding Raised | — | 164 | 2002 | — |
| 33 |
Benel Energy
Provider of oil & gas engineering services |
— | — | Unfunded | — | — | 2010 | — |
| 34 |
BetaSunlight
Provider of solar solutions for businesses |
— | — | Unfunded | — | — | 2022 | — |
| 35 |
Century Group
Vertically integrated oil & gas company |
— | — | Unfunded | — | — | 2002 | — |
| 36 |
CieQual
Provider of oil & gas drilling and petroleum engineering consulting services |
— | — | Unfunded | — | — | 2009 | — |
| 37 | CITA Petroleum Limited | — | — | Unfunded | — | — | 2006 | — |
| 38 |
Conoil Producing
Crude oil exploration and production company |
— | — | Deadpooled | — | — | 1984 | — |
| 39 |
Contained Energy Services
Solar installer and service provider |
— | — | Unfunded | — | — | 2011 | — |
| 40 |
CovenantPlus Engineering
Provider of power distribution project, transmission planning, and other services |
— | — | Unfunded | — | — | 2002 | — |
| 41 |
DBN Energies
Company is a global oil and gas engineering, procurement, and construction contractor providing services to the energy industry |
— | — | Unfunded | — | 3 | 2022 | — |
| 42 |
Doowe
LPG retailing and bulk distribution company |
— | — | Unfunded | — | — | 2016 | — |
| 43 |
Drausnet
Manufacturer of minimally processed herbal supplements |
— | — | Unfunded | — | — | 2003 | — |
| 44 |
Ecowatt Nigeria
Provider of energy audits, renewable energy solutions, and energy management services. It offers energy audits for commercial and industrial facilities, identifying areas for energy efficiency improvements. The company also provides renewable energy solutions, including solar power systems, and offers energy management consulting services to help clients optimize their energy consumption and reduce costs. Additionally, it provides training courses in energy auditing and management. Services include equipment rental for energy assessments. |
— | — | Funding Raised | — | — | 2016 | — |
| 45 |
Egbin Power
Developer of hydro power projects |
— | — | Unfunded | — | 503 | 1985 | — |
| 46 |
Eko Electricity Distribution
Distributor of electricity |
— | — | Acquired | — | — | 2005 | — |
| 47 |
Elektrint Nigeria
Electromechanical engineering company that provides design, procurement, installation, and construction services |
— | — | Unfunded | — | — | 1976 | — |
| 48 |
Energeria
Provider of oilfield services for upstream and midstream sectors |
— | — | Unfunded | — | — | 2002 | — |
| 49 |
ENYO
Distributor of quality fuels products |
— | — | Acquired | — | 247 | 2017 | — |
| 50 |
eroton
Eroton is an independent and indigenous oil and gas company. |
— | — | Private | — | 40 | 2013 | — |
Operator of upstream assets and exploration opportunities across the energy value chain. The company focuses on maintaining standards in safety, health, and community relations. It manages operations and projects sustainably, aiming to impact stakeholders positively. The company is committed to community empowerment programmes.
Developer of solar energy projects
ARNERGY is a provider of pay-as-you-go solar power solutions to commercial and residential clients. Offers three solar home systems packages and mini-grid solar solutions to provide electricity to rural Nigeria and South Africa.
Elektron Energy is an energy infrastructure platform company that develops, acquires, and operates energy infrastructure projects in West Africa. They specialize in supplying rare earth magnets, such as samarium cobalt and neodymium-iron, through their subsidiary Electron Energy Corporation. Founded in 2011, Elektron started as an energy trading outfit and has since evolved into an energy infrastructure platform comp
LEKOIL is an oil and gas exploration and production company with operating interests in Nigeria and Namibia. Claims to hold 40-62% interest over 4-oilfields which has an annual production rate of 10k BOE of crude oil. Also, has 77.5% gross interest in an oil block of Namibia.
OVH Energy is a downstream company which markets and distributes refined petroleum products under Oando retail brand name in West Africa. Also, operates petroleum terminals in Nigeria, Ghana, and Togo.
Provider of financial services for solar energy to commercial and residential customers
MBH Power Limited is an energy solutions company providing world-class services to meet the growing demand of the power sector. They focus on meter manufacturing, power generation, and transmission and distribution services.
Oil & gas production & exploration company
Provider of midstream infrastructure and crude transportation services
Rensource has developed a membership and subscription-based solar power system. Once the user has shared their contact details, an engineer conducts a site study to determine the installation capacity and share the subscription details. Once the distributed power supply is installed, the user pays regular monthly membership charges, based on which a membership score is built that entitles the user to receive complime
British International Investment
Afreximbank
African Capital Alliance
All On
Norfund
San Leon Energy
ARM-Harith
Acumen
Africinvest
Amaya Capital
Ashden
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BMO Capital Markets
Rankings are computed by Radar (Fliar BI) from the Radar company master and are updated periodically. Funding and momentum scores use disclosed equity-funding data only. Figures may lag private rounds. Last updated 2026-06-21.
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