Nigerian Companies Report N19.81trn OPEX for 2025

In 2025, twenty companies listed on the Nigerian Exchange Group (NGX) reported total operational expenses of N19.81 trillion, marking a 13.8% increase from N17.4 trillion in 2024. This rise occurred despite a gradual decline in inflation, which stood at 15.51%, and some stability in the foreign exchange market.

Major contributors to the increased operational expenses include inflationary pressures, exchange rate volatility, and rising input costs, particularly in sectors such as oil and gas, manufacturing, telecommunications, and fast-moving consumer goods (FMCG). Oando PLC reported the highest operational expense at N3.46 trillion, a decrease of 23.7% from N4.54 trillion in 2024.

Seplat Energy PLC followed with N3.17 trillion, an increase of 133% from N1.36 trillion in the previous year, while Dangote Cement PLC reported N2.58 trillion, a 3.8% increase from N2.48 trillion in 2024. Dr. Muda Yusuf from the Central Promoters of Private Enterprise (CPPE) highlighted that inflationary pressures continue to be a significant concern for the Nigerian economy, affecting profit margins and overall business performance.