Toxic, toxic and best moved to a landfill as working on it will compromise your health. Time to revisit Goodwill.
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I use a mix of Distilled water isopropyl alcohol and some dawn dish soap. A similar DIY mix to cleaning albums a white wash cloth and disassemble wiping down each part as I go and drying it with a micro fiber. Lots of digital pictures as I go so I remember how to put it all back. As to lubing on something like that, you'll need to find the main spindle bearing. I use a LARGE hypodermic needle filled with 20w50 synthetic oil to lube it. Less is more. If the arm lift falls too quick it may need something a little different. Don't put the regular oil on it. Look up 500K dif oil for that. All that being said, if it works now with no issues I might be tempted to leave it be and just grease that main bearing and be done with it.