Nigerian Oil & Gas Companies Report 17.5% Revenue Decline in 2025 Fiscal Year

In the 2025 financial year, four major Nigerian oil and gas companies, TotalEnergies, Aradel Holdings, Conoil Plc, and Oando Plc, collectively reported a 17.5% revenue decline attributed to the high cost of sales. TotalEnergies Market Nigeria recorded a significant revenue loss, with a 26% drop to N1.9 trillion from N767.6 billion in 2024.

Conoil Plc's revenue decreased by 6.6% to N301.72 billion, while Oando Plc saw a 21.4% decline to N3.2 trillion. Aradel Holdings, however, emerged as a standout performer with a revenue increase of nearly 20% to N697.3 billion.

The growth in Aradel Holdings' revenue was mainly driven by sustained momentum across its business segments, including an 18% increase in revenue from crude oil exports. Despite a decline in crude oil prices, Aradel Holdings' revenue from refined products also grew by 18%, supported by a 26% rise in sales volume.