Four Oil Firms Post N305bn Profit As H1 2026 Revenue Hits N5 Trillion

Four Oil Firms Post N305bn Profit as H1 2026 Revenue Hits N5 Trillion

Four listed oil and gas companies have reinforced the sector’s role as a major driver of Nigeria’s capital market after recording a combined profit after tax PAT of more than N305 billion in the first half H1 of 2026. The companies posted a 185.2% increase in combined profits compared with the N106.97 billion reported during the same period in 2025. Their combined revenue also climbed to approximately N5 trillion, reflecting stronger sales, improved operational performance, and favourable market conditions. The impressive financial results highlight the resilience of Nigeria’s downstream and energy sector, with investors expected to benefit from stronger earnings and potential dividend growth. The performance also underscores the industry’s growing contribution to the Nigerian Exchange and the broader economy. Analysts say the surge in profitability was driven by increased revenues, operational efficiencies, and improved market dynamics across the oil and gas value chain.