Managing Director, NIPCO Plc, Suresh Kumar; Chairman, Bestman Anekwe; Managing Partner P.C. OBI & CO, Company Secretaries of NIPCO Plc Chief Paul Chukwuma Obi,SAN during the Company’s 22nd Annual General Meeting held at Abuja Continental Hotel.
NIPCO Plc has assured shareholders that strategic diversification and disciplined capital allocation enabled the company to deliver strong returns despite turbulence in the downstream sector in 2025.
Speaking at the sidelines of the 22nd Annual General Meeting of the company held at the iconic Abuja Continental Hotel, Abuja, Managing Director Suresh Kumar said the company closed the year with a turnover of N1.98 trillion and Profit Before Tax and Profit After Tax of N12 billion.
The Board subsequently recommended a dividend of N1 billion, translating to N8.00 per ordinary share which was unanimously approved by shareholders, subject to withholding tax.
According to him, “2025 was one of the most challenging years for downstream operators. Deregulation compressed margins and created pricing volatility.
The company’s response was to protect cash flow, cut costs, and invest in areas with long-term upside as the company de-risked its portfolio by expanding beyond white products into gas and hospitality.
A key move, Suresh disclosed, was a £28.7 million investment in Savannah Energy Plc, giving NIPCO about 19.4% stake, now approaching 25%, to secure long-term gas supply and participate in upstream value.
He added that the investment aligns with Nigeria’s gas monetization agenda and is expected to strengthen supply security and export potential.
Suresh also highlighted the acquisition of a majority stake in Capital Hotels Plc by subsidiary 22 Hospitality Ltd as part of efforts to diversify earnings.
Operationally, he said NIPCO grew its retail footprint to over 400 stations and scaled gas infrastructure, with 25 Auto CNG stations and 10 LPG loading bays trucking over 4,000 tones daily. Kumar told shareholders that the resilience shown in 2025 positions NIPCO for consistent dividend growth.
“Our financial strategy remains prudence, innovation and long-term planning. It has made us stronger and placed us on a path to sustainable earnings and shareholder value in 2026 and beyond,” he declared.
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