NIPCO Plc recorded a turnover of N1.979 trillion for the 2025 financial year as the company continued to expand its footprint across Nigeria’s gas and upstream energy sectors.
The company also posted a profit before tax of N17.27 billion and a profit after tax of N12.23 billion. Its board proposed a dividend of N8 per ordinary share, citing confidence in the company’s financial position and future growth.
Speaking at the company’s annual general meeting in Abuja, management said the deregulation of Nigeria’s downstream petroleum industry has reshaped the operating environment, creating fresh opportunities while increasing competition among fuel marketers.
To strengthen its market position, NIPCO said it has continued to expand its retail network, which now includes more than 400 filling stations nationwide. The company is also increasing investments in liquefied petroleum gas, supported by additional storage and distribution facilities to meet rising domestic demand.
Compressed natural gas remains a major area of focus for the company. Through its subsidiary, NIPCO Gas Limited, it currently operates 25 Auto CNG stations, with another 20 under construction. The company said it has supported the conversion of over 8,000 vehicles to run on CNG and is collaborating with government agencies to expand refuelling infrastructure across the country.
NIPCO has also secured 25-year exclusive gas distribution licences covering Ibadan, Benin City and the Lekki Free Trade Zone, a move expected to boost natural gas supply to industries and households in the designated areas.
Beyond its downstream operations, the company has increased its investment in upstream oil and gas through a larger stake in Savannah Energy Plc, making it one of the company’s leading shareholders. It said the investment is aimed at diversifying its earnings and strengthening its presence across the energy value chain.
The company has also broadened its investment portfolio outside the energy sector through its majority stake in Capital Hotels Plc, owner of the Abuja Continental Hotel, where renovation works are ongoing.
NIPCO said it will continue investing in fuel retailing, gas infrastructure, CNG and upstream operations as it positions itself for sustained growth in Nigeria’s evolving energy industry.
