Ogbechie: Eterna Committed to Growth, Shareholder Value

Kayode Tokede

The Chairman of Eterna Plc, Mr. Gabriel Ogbechie, has said the management is committed to increasing its fundamentals and strengthening shareholders value.

Speaking virtual during the company’ s 33rd Annual General Meeting (AGM), he noted that the Company remained resilient amidst a dynamic operating environment shaped by geopolitical tensions disrupting energy trading, economic reforms, pricing volatility, and industry-wide transitions within the downstream sector.

The shareholders at the AGM approved the company’s audited financial statements for the year ended  December 31, 2025, alongside other resolutions presented by the Board.

The meeting provided an opportunity for the Company to reflect on its performance for the 2025 financial year, strategic milestones achieved across its business operations, and its outlook for sustained growth within Nigeria’s evolving energy landscape.

The Chaitman stated that Eterna recorded a revenue of N302.4 billion in 2025, supported by operational efficiency initiatives, disciplined execution of business strategy, and continued 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. We remain committed to building a stronger, more sustainable business that continues to deliver value to shareholders,” he said.

Commenting on the Company’s outlook, the Managing Director/Chief Executive Officer, Mr. Olumide Adeosun, stated that Eterna remains strategically positioned to maximise emerging opportunities within the industry through its mid-term strategic focus on asset expansion and sustainability, precisely the expansion of our retail station footprint and transformation of select existing stations to flagships.

“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 stated.

Shareholders at the meeting commended the Board and Management for the Company’s performance, strategic direction, and commitment to sustainable growth.