Eterna Plc has held its 33rd Annual General Meeting, where shareholders approved the company’s audited financial statements for the year ended December 31, 2025, alongside other resolutions presented by the board.
A statement from the firm on Tuesday stated that the meeting reviewed the company’s performance for the 2025 financial year, strategic milestones across its operations, and its outlook for growth within Nigeria’s energy sector.
Speaking at the virtual AGM, the Chairman of Eterna Plc, Gabriel Ogbechie, said the company remained resilient despite geopolitical tensions affecting energy trading, economic reforms, pricing volatility, and transitions within the downstream sector.
He stated that the company recorded revenue of N302.4bn in 2025, supported by operational efficiency measures, execution of business strategy, and growth across key 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,” he said.
Ogbechie also highlighted the company’s focus on sustainability, operational efficiency, and expansion through investments in retail growth, aviation operations, lubricants, liquefied petroleum gas expansion, and environmental, social, and governance initiatives.
At the meeting, the chairman announced the board-approved full-year dividend of 50 kobo per share for shareholders whose names appeared in the Register of Members at the close of business on Monday, April 13, 2026, subject to withholding tax deductions.
Commenting on the company’s outlook, the Managing Director/Chief Executive Officer, Olumide Adeosun, said Eterna Plc was positioned to benefit from emerging opportunities in the industry through its medium-term strategy focused on asset expansion and sustainability.
He said the company planned to expand its retail station footprint and transform selected stations into flagship outlets.
“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 stated.
Shareholders at the meeting commended the board and management for the company’s performance, strategic direction, and focus on sustainable growth.
The company said its audited financial statements for the year ended December 31, 2025, are available on its website.
