Conoil Plc Sustains Growth Amid Economic Challenges, Announces Dividend Payout

Conoil Plc (NGX: CONOIL), a Nigerian oil and gas company, showcased resilience in the face of economic pressures in Nigeria, with Chairman Dr. Mike Adenuga Jr. highlighting the company's steady performance. Despite macroeconomic challenges like high inflation and infrastructure issues, Conoil's revenue rose by 60.5%, totaling 201.4 billion in 2024.

The company's total assets grew by 18% to 114.9 billion, and shareholder funds increased by 19.1% to 39.5 billion. Conoil also reduced its borrowing by 10%, emphasizing cost management and operational efficiency.