Eterna’s Revenue Jumps 71% to N313.6bn, Firm  Ratifies New Leadership

Peter Uzoho 

Eterna Plc, a prominent Nigerian oil and gas downstream player has reported a strong financial turnaround for the fiscal year ended December 31, 2024, with  a 71 per cent increase in revenue, growing from N183.3 billion in 2023 to N313.6 billion in 2024, despite a volatile operating environment. 

The company disclosed these results at its 32nd Annual General Meeting (AGM), where shareholders also ratified important board appointments and strategic resolutions to support future growth.

It said gross profit rose by 136 per cent to N39.9 billion, while profit before tax stood at N4.48 billion, marking a significant recovery from the N11.9 billion pre-tax loss recorded in the previous year.

Shareholders at the AGM commended the company’s resilience and strategic direction, expressing confidence in the leadership team and its ability to drive sustainable growth in the evolving energy landscape.

Speaking during the meeting, Chairman of Eterna, Dr. Gabriel Ogbechie, highlighted the company’s performance as evidence of its operational discipline and strategic focus.

“Our 2024 performance is a direct result of decisive leadership, strong execution, and the unwavering commitment of our people. As we deepen our footprint across energy value chains, we remain guided by a strategy that prioritizes growth, resilience, and innovation,” he said.