From L-R: Emmanuel Omuojine, Non-Executive Director; Okechukwu Ashiegbu, Executive Director/Chief Operating Officer; Dr. Bunmi Agagu-Adu, Executive Director/Managing Director, Eterna Industries Limited; Phoebean Ifeadi, Executive Director, Corporate Services; Olumide Adeosun, Managing Director/Chief Executive Officer, Eterna Plc; Gabriel Ogbechie, OON, Chairman; David Edet, Company Secretary/Legal Adviser; Godrey Ogbechie, Non-Executive Director; Barr. Okechukwu Omezi, Non-Executive Director; and Anibor Kragha, Non-Executive Director. at the Eterna Plc 33rd AGM in Lagos.
Eterna Plc has reaffirmed its commitment to growth, operational expansion, and shareholder value after shareholders approved the company’s 2025 audited financial statements at its 33rd Annual General Meeting (AGM).
The Nigerian downstream energy company said it generated ₦302.4 billion in revenue for the financial year ended December 31, 2025, despite operating in a challenging business environment marked by global energy market volatility, geopolitical tensions, and ongoing reforms in Nigeria’s petroleum sector.
Speaking during the virtual AGM, Chairman Gabriel Ogbechie said the company maintained resilience through operational efficiency measures, disciplined execution of its 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,” Ogbechie said.
The company also announced a full-year dividend of ₦0.50 per share for shareholders listed in the Register of Members as of April 13, 2026, subject to applicable withholding tax.
Eterna Plc said it remains focused on long-term expansion opportunities within Nigeria’s evolving energy market, with investments planned across retail fuel stations, aviation fuel operations, lubricants, liquefied petroleum gas (LPG), and environmental, social, and governance (ESG) initiatives.
Managing Director and Chief Executive Officer Olumide Adeosun said the company is positioning itself to benefit from emerging opportunities in the downstream oil and gas industry through asset expansion and sustainability-focused investments.
According to Adeosun, Eterna plans to expand its retail station footprint while upgrading selected outlets into flagship stations as part of its mid-term growth strategy.
“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.
Shareholders at the AGM commended the Board and management for the company’s performance and strategic direction amid ongoing changes in Nigeria’s energy sector.
Eterna Plc said it will continue to focus on innovative energy solutions, operational efficiency, and sustainable value creation as competition intensifies within Africa’s largest oil-producing economy.
