Israel Oluyemi
The Managing Director of Eterna Plc, Olumide Adeosun, has announced a ₦1.38 billion profit after tax for the first quarter of 2026.
The company delivered the performance with ₦70.45 billion in revenue generated within the period.
Profit before tax reached ₦1.65 billion to reflect improved earnings strength.
Adeosun tied the outcome to disciplined cost management, efficient operations, and targeted expansion efforts.
“The performance reflects our continued focus on operational excellence, cost discipline, and strategic expansion initiatives,” Adeosun said.
He said strategic inventory planning strengthened supply efficiency and supported nationwide service delivery.
Earnings per share closed at ₦1.06 to signal stronger returns to investors.
“With a clear focus on efficiency and expansion, Eterna Plc is well-positioned to consolidate gains and deliver sustainable value to stakeholders,” he said.
Adeosun added that the company will expand its retail footprint and deepen investments in aviation, lubricants, and gas segments.
Industry analysts said the result points to improving momentum in the downstream sector amid evolving market conditions and regulatory reforms.