Aerobic and anaerobic changes in the microflora and chemical components of domestic oil-rich wastewater were investigated. Enumeration of total bacterial and coliform counts was determined using spreading method of isolation. Enumeration and characterization of fatty acids were determined using High Performance Liquid Chromatography technique. The microbial load was at its peak on the third day of storage, while the coliforms rose to about 50% and 60% of the total load during aerobic and anaerobic conditions respectively. Anaerobiosis did not affect the total coliform load drastically (47%) on the 12th day of degradation. Among the fatty acids elucidated from fresh dietary oil were lauric (0.99%), myristic (1.00%), palmitic (44.3%). Percentage concentration of fatty acids of extracted oil from aerobic cultured wastewater was as follows: lauric (ND - 5.70%); myristic (ND - 39.5%), palmitic (0.11% - 0.79%), stearic (0.012% - 0.32%), oleic (19.0% - 48.0%) and linoleic (ND - 49.0%), while anaerobic culture produced lauric (ND - 7.3%), myristic (ND - 50.4%), palmitic (0.23% - 0.68%), stearic (0.034% - 0.74%), oleic (13.0% - 52.0%) and linoleic (16.0% - 58.0%) at different storage times. The changes in titratable acidity, mineral and proximate contents with their effects were discussed.