Shareholders of Eterna Plc have approved the company’s audited financial statements for the 2025 financial year during its 33rd Annual General Meeting, as the downstream energy firm reaffirmed its commitment to expansion, sustainability, and long-term value creation.
The virtual AGM, held to review the company’s operational and financial performance for the year ended December 31, 2025, also saw shareholders endorse other resolutions presented by the board.
Speaking during the meeting, Chairman of the company, Gabriel Ogbechie, said the company weathered a challenging operating environment marked by global geopolitical tensions, volatility in energy pricing, economic reforms, and ongoing transitions within Nigeria’s downstream oil and gas sector.
Despite the pressures across the industry, he noted that the company remained resilient and strategically focused throughout the year.
According to him, Eterna Plc posted a revenue of N302.4 billion in 2025, a performance driven by operational efficiency, disciplined execution of its business strategy, and growth recorded across major business segments.
“Our performance underscores the strength of our business, driven by the unwavering dedication of our people and the consistent execution of our long-term strategic vision. We remain committed to building a stronger, more sustainable business that continues to deliver value to shareholders,” Ogbechie stated.
He further explained that the company continued to intensify investments in key growth areas, including retail expansion, aviation fuel operations, lubricant production, and liquefied petroleum gas distribution, while also strengthening its environmental, social, and governance initiatives.
The chairman also announced a board-approved full-year dividend payout of 50 kobo per share for shareholders listed in the company’s Register of Members as of the close of business on April 13, 2026, subject to applicable withholding tax deductions.
On the company’s future outlook, Managing Director and Chief Executive Officer, Olumide Adeosun, said Eterna Plc was strategically positioned to benefit from emerging opportunities within Nigeria’s evolving energy landscape.
Adeosun disclosed that the company’s medium-term growth strategy would focus heavily on asset expansion, sustainability, and operational transformation across its network.
“The Company will continue to strengthen its operational capacity through targeted investments across its retail network, lubricant operations, aviation business, and other growth-focused initiatives aimed at enhancing efficiency and creating long-term stakeholder value,” he said.
He added that the company plans to expand its retail station footprint nationwide while upgrading selected outlets into flagship stations to improve customer experience and operational performance.
Shareholders at the AGM commended the board and management for steering the company through a difficult economic environment and sustaining growth momentum despite prevailing market uncertainties.
The company also confirmed that its audited financial statements for the year ended December 31, 2025, have been made available on its corporate website for shareholders and stakeholders.