Shareholders of Eterna Plc have approved a dividend payment of 50 Kobo per ordinary share for the 2025 financial year, following the company’s 33rd Annual General Meeting held virtually on Tuesday, May 12, 2026. The dividend will be paid to shareholders whose names are recorded in the Register of Members as of the close of business on April 13, 2026. This decision reflects the company’s commitment to rewarding investors while maintaining financial discipline amid ongoing challenges in Nigeria’s energy sector.
The meeting also saw shareholders approve the audited financial statements for the year ended December 31, 2025, along with the reports from the auditors and the audit committee. These documents were presented as part of the company’s regular corporate governance obligations, ensuring transparency and accountability to stakeholders. The approval underscores confidence in Eterna’s financial reporting and operational performance over the past year.
Barrister Okechukwu Omezi and Mr. Anibor Kragha were re-elected as directors during the AGM, reinforcing continuity in leadership and strategic direction. The board’s composition remains focused on experienced professionals with deep industry knowledge, essential for guiding the company through Nigeria’s dynamic downstream oil and gas environment. Additionally, PricewaterhouseCoopers was re-appointed as the independent auditor for the 2026 financial year, with the board given authority to determine the auditors’ remuneration.
Engr. M.O.T Olayiwola Tobun, Mrs. Odusote Anike Olatubosun, and Mr. Omokayode O. Adekunle were re-elected as shareholder representatives on the statutory audit committee. They will serve alongside Mr. Emmanuel Omuojine and Mr. Anibor Kragha, who represent the board, until the next annual general meeting. This balanced representation ensures oversight from both shareholder and management perspectives, strengthening governance practices.
Eterna Plc also disclosed that the remuneration of its managers was presented in compliance with Section 257 of the Companies and Allied Matters Act 2020, a legal requirement aimed at promoting transparency in executive pay. Shareholders further renewed the company’s general mandate for recurrent transactions with related parties, in line with Rule 20.8(a) of the Nigerian Exchange Limited rules. This mandate covers routine revenue and trading-related activities essential for day-to-day operations.
The resolutions adopted at the AGM reinforce Eterna’s commitment to strong corporate governance and operational flexibility. As a key player in Nigeria’s downstream oil and gas sector, the company continues to adapt to market shifts while ensuring investor confidence. The approved dividend and governance measures signal stability and long-term strategic focus as Eterna moves forward in the evolving energy landscape.
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