Shareholders of Eterna Plc have given their approval for the company's audited financial statements for the year ending December 31, 2025, along with other resolutions put forward by the board during its 33rd annual general meeting (AGM). The company noted that the AGM served as a platform to evaluate its performance over the 2025 fiscal year, assess key strategic achievements across its operations, and outline its growth prospects within Nigeria's dynamic energy sector.
Dividend Approval and Key Details
During the meeting, shareholders also sanctioned a full-year dividend of 50 kobo per share for those whose names appeared on the register of members as of the close of business on April 13, 2026. This dividend reflects the company's commitment to rewarding its investors despite a challenging operating environment.
Chairman's Remarks on Performance
Speaking at the virtual AGM, Chairman Gabriel Ogbechie highlighted the company's resilience amidst a difficult landscape marked by geopolitical tensions affecting global energy trade, economic reforms, price volatility, and ongoing shifts in the downstream petroleum sector. He disclosed that Eterna posted revenue of N302.4 billion in 2025, driven by operational efficiency, disciplined execution of its business strategy, and growth across key segments.
"Our performance underscores the strength of our business, fueled by the unwavering dedication of our people and the consistent implementation of our long-term strategic vision. We remain committed to building a stronger, more sustainable enterprise that continues to deliver value to shareholders," Ogbechie stated.
Strategic Focus Areas
The chairman emphasized that the company remains focused on sustainability, operational excellence, and long-term expansion through investments in retail growth, aviation operations, lubricants, liquefied petroleum gas (LPG) expansion, and environmental, social, and governance (ESG) initiatives.
CEO's Outlook
Managing Director and CEO Olumide Adeosun noted that Eterna is strategically positioned to capitalize on emerging opportunities in the industry through its medium-term growth strategy, which emphasizes asset expansion and sustainability. He revealed plans to expand the company's retail station network while converting selected existing outlets into flagship stations.
