Conoil. Photo: Premium Times
According to the corporate disclosure, Conoil recorded total revenue of N301.72bn for the period ended 31 December 2025. This represents a modest 6.6 per cent decline from the N323.13bn generated in the 2024 financial year, largely reflecting softer fuel purchase volumes and altered consumer demand under volatile pump pricing regimes.
The downstream oil marketer has released its audited corporate filing to the Nigerian Exchange, revealing a sharp drop in profitability for the 2025 financial year, highlighting the mounting macroeconomic headwinds facing retail energy operators across the country.
Despite maintaining robust top-line activities and crossing the N300bn threshold, a steep rise in short-term debt servicing dramatically eroded the company’s bottom-line margins.
It successfully scaled down its cost of sales 6.1 per cent to N278.81bn. However, the slight contraction in gross margins left the firm with less room to absorb substantial operational and financing shocks. Gross profit ultimately eased down by 13.1 per cent to close at N22.91bn.
