Conoil Plc has reported a sharp contraction in its bottom-line performance for the full year ended December 31, 2025, with net profits plummeting by 75.7 percent year-on-year (YoY).
Despite navigating a highly volatile energy market, the downstream oil marketing giant faced intense macroeconomic headwinds that heavily compressed its margins, leaving investors bracing for a leaner dividend payout.
The audited numbers filed with the Nigerian Exchange Limited (NGX) show that Conoil’s board proposed cutting the final dividend from N3.50 in 2024 down to N2 per share (a 42.9 percent drop).
According to the Register of members, no shareholder of the Company other than Conpetro Limited held more than 5 percent issued shares of the Company as at December 31, 2025.
Conpetro Limited held 516,298,603 units or 74.40 percent, while other shareholders held 177,653,514 units or 25.60 percent.
Conpetro Limited is wholly owned by the Nigerian billionaire businessman Mike Adenuga Jr. (the
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