…Secures 25-Year gas franchise in Ibadan, Benin, Lekki Zone
NIPCO Plc, one of Nigeria’s largest downstream petroleum marketers, reported a turnover of N1.979 trillion for the financial year ended December 31, 2025, as the company leaned into an aggressive diversification push spanning compressed natural gas, upstream oil and gas, and hospitality, even as the country’s newly deregulated fuel market squeezed margins across the sector.
The company posted profit before tax of N17.271 billion and profit after tax of N12.227 billion for the year, according to figures presented at its 22nd Annual General Meeting, held at the Abuja Continental Hotel. The board recommended a dividend of N1.501 billion, or N8.00 per ordinary share — an increase shareholders were told reflects confidence in the company’s trajectory despite what management described as “current headwinds in the sector.”
“This dividend of 800 kobo per share, despite the current headwinds in the sector, demonstrates the Company’s resolve to grow shareholders’ return on investment consistently, “Bestman Anekwe, NIPCO Chairman told shareholders. The payout is subject to shareholder approval and will be paid net of withholding tax.
A market in transition
