Eterna Confirms Commitment to Growth and Shareholder Value in Ogbechie Statement

Kayode Tokede

The Chairman of Eterna Plc, Mr. Gabriel Ogbechie, emphasized that the company’s management is focused on strengthening its fundamentals and enhancing shareholder value.

Speaking virtually at the company’s 33rd Annual General Meeting (AGM), he noted that Eterna remained resilient amid a dynamic operating environment marked by geopolitical tensions affecting energy trading, economic reforms, price volatility, and sector‑wide transitions in the downstream industry.

During the AGM, shareholders approved the audited financial statements for the year ended 31 December 2025 and other resolutions presented by the Board.

The meeting offered a chance for the company to review its 2025 performance, highlight strategic milestones achieved across its operations, and outline its outlook for continued growth within Nigeria’s evolving energy landscape.

Mr. Ogbechie reported that Eterna generated revenue of N302.4 billion in 2025, driven by operational efficiency initiatives, disciplined execution of its business strategy, and sustained growth in key 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.

Mr. Olumide Adeosun, Managing Director and Chief Executive Officer, added that Eterna is strategically positioned to seize emerging opportunities in the industry through a mid‑term focus on asset expansion and sustainability, particularly by expanding its retail station footprint and converting select existing stations into flagship locations.

“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 praised the Board and management for the company’s performance, strategic direction, and commitment to sustainable growth.