Eterna Plc Revenue Surges 71% to ₦313.6bn as Shareholders Approve New Leadership and Growth Strategy
By Okafor Joseph | July 29, 2025 | SpringnewsNG Media Limited
Eterna Plc, a leading player in Nigeria’s oil and gas downstream sector, has announced a 71% jump in revenue to ₦313.6 billion for the 2024 fiscal year, up from ₦183.3 billion in 2023, signaling a strong financial rebound despite a challenging market environment.
The results were disclosed at the company’s 32nd Annual General Meeting (AGM), where shareholders ratified new board appointments and endorsed key strategic resolutions aimed at sustaining the company’s growth trajectory.
Strong Financial Recovery
Eterna’s gross profit rose 136% to ₦39.9 billion, while the company posted a ₦4.48 billion profit before tax, a remarkable turnaround from the ₦11.9 billion loss recorded in the previous year.
Shareholders at the AGM praised Eterna Plc’s resilience and strategic leadership, expressing confidence in its ability to navigate Nigeria’s evolving energy landscape.
Leadership Commits to Growth and Innovation
Chairman Dr. Gabriel Ogbechie attributed the company’s 2024 performance to operational discipline, decisive leadership, and strong execution.
“Our 2024 performance reflects the dedication of our team and the effectiveness of our strategy,” Ogbechie said.
“As we expand across the energy value chain, our focus remains on growth, resilience, and innovation to deliver sustainable returns for stakeholders.”
Future Outlook
With the oil and gas sector undergoing rapid transformation, Eterna Plc aims to deepen its footprint in energy distribution, optimize operations, and pursue strategic opportunities that support long‑term profitability and shareholder value.
The company’s revenue surge and board ratification position it for sustained growth, reinforcing investor confidence in the downstream energy market.
