Conoil Reassures Investors with N2.43bn Dividend Payout Amid Economic Challenges

Conoil Plc (NGX: CONOIL) reaffirmed its strategic focus as a leading force in Nigeria's downstream petroleum sector by announcing a dividend payout of N2.43 billion for the 2024 financial year. The company's revenue surged by 60.5%, reaching N323.1 billion, with total assets growing by 18% to N114.9 billion.

Chairman Mike Adenuga Jnr highlighted the challenging economic environment in Nigeria but commended the company's financial performance and prudent resource management. Conoil's success was attributed to proactive decision-making, operational excellence, and a commitment to human capital development.