Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
Conoil
On this page
Company details
- Legal name
- Conoil Plc
- Listing
- CONOIL on the Nigerian Exchange, active · ISIN NGCONOIL0003 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · audited financial statements, signed / final · source
-
Revenue
NGN 323 billion
323,127,667 NGN thousands · p36
+60.5% vs 2023
-
Operating profit / (loss)
Not reported in this filing
-
Profit / (loss) for the year
NGN 8.77 billion
8,773,534 NGN thousands · p36
−11.1% vs 2023
-
Total assets
NGN 115 billion
114,951,450 NGN thousands · p37
+17.9% vs 2023
-
Total equity
NGN 39.5 billion
39,490,276 NGN thousands · p37
+19.1% vs 2023
-
Cash from operations
NGN 8.80 billion
8,796,150 NGN thousands · p39
Change not shown.
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — audited financial statements, signed / final; reported for the year · source
- FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Revenue | 323,127,667 | 201,387,053 |
| Cost of sales | (296,773,205) | (181,555,895) |
| Gross profit | 26,354,462 | 19,831,158 |
| Other operating income | 35,977 | 113,810 |
| Other gains or losses1 | 60,618 | 1,541,626 |
| Distribution expenses | (6,892,458) | (2,763,026) |
| Administrative expenses | (4,600,815) | (4,490,965) |
| Finance cost | (3,953,746) | (1,955,338) |
| Profit before tax | 11,004,039 | 12,277,265 |
| Income tax expense | (2,230,505) | (2,409,026) |
| Profit for the year | 8,773,534 | 9,868,239 |
| Other comprehensive income for the year net of tax | –2 | –2 |
| Total comprehensive income | 8,773,534 | 9,868,239 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (1)
- “Other gains or losses” is an issuer-specific line, not mapped to a shared definition: Note 8.
Balance sheet
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Property, plant and equipment | 3,973,401 | 1,562,073 |
| Intangible assets | 10 | 10 |
| Investment property | 10 | 10 |
| Other financial assets1 | 10 | 10 |
| Prepayments2 | 123,563 | 94,762 |
| Deferred tax assets | 2,380,282 | 2,213,519 |
| Total non-current assets | 6,477,276 | 3,870,384 |
| Inventories | 29,254,935 | 16,539,763 |
| Trade and other receivables | 71,898,060 | 65,644,958 |
| Prepayments2 | 56,978 | 96,120 |
| Cash and bank balances | 7,264,201 | 11,326,753 |
| Total current assets | 108,474,174 | 93,607,594 |
| Total assets | 114,951,450 | 97,477,978 |
| Share capital | 346,976 | 346,976 |
| Share premium | 3,824,769 | 3,824,769 |
| Retained earnings | 35,318,531 | 28,973,828 |
| Total equity | 39,490,276 | 33,145,573 |
| Distributors' deposits3 | 492,099 | 486,099 |
| Deferred tax liabilities | 533,406 | 162,655 |
| Decommissioning liability4 | 116,960 | 109,048 |
| Total non-current liabilities | 1,142,465 | 757,802 |
| Borrowings | 28,675,018 | 32,005,917 |
| Trade and other payables | 40,574,465 | 26,732,921 |
| Current tax payable | 5,069,226 | 4,835,764 |
| Total current liabilities | 74,318,709 | 63,574,603 |
| Total liabilities | 75,461,174 | 64,332,405 |
| Total equity and liabilities | 114,951,450 | 97,477,978 |
Notes and alternative reported figures (4)
- “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 18: non-current.
- “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 19.
- “Distributors' deposits” is an issuer-specific line, not mapped to a shared definition: Note 27: non-current.
- “Decommissioning liability” is an issuer-specific line, not mapped to a shared definition: Note 28: non-current.
Cash flow
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| Cash generated from/(used in) operations | 10,987,215 | (15,549,916) |
| Tax paid | (1,793,054) | (552,345) |
| Value added tax paid1 | (398,011) | (353,764) |
| Net cash (used)/generated from operating activities | 8,796,150 | (16,456,025) |
| Purchase of property, plant and equipment | (3,155,106) | (734,663) |
| Interest received | 9,882 | 25,592 |
| Net cash used in investing activities | (3,145,224) | (709,070) |
| Interest paid2 | (3,953,746) | (1,955,338) |
| Dividends paid | (2,428,832) | (1,734,880) |
| Net cash used in financing activities | (6,382,578) | (3,690,218) |
| Increase in cash and cash equivalents | (731,652) | (20,855,313) |
| Cash and cash equivalents at 1 January | (20,679,165) | 176,149 |
| Cash and cash equivalents at 31 December | (21,410,817) | (20,679,165) |
Notes and alternative reported figures (2)
- “Value added tax paid” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Interest paid”: mapping to a shared definition is uncertain. Printed 'Interest paid' (note 11: interest on bank overdraft plus decommissioning accretion; equal to the finance cost).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividends paid |
(2,428,832) | NGN thousands | Audited financial statements, p39 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Dividends paid |
(1,734,880) | NGN thousands | Audited financial statements, p39 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Conoil Plc 2024 Financial Statements for the year ended 31 December 2024
Year ended 31 December 2024 · Audited financial statements · signed / final
Audit: Nexia Agbo Abel & Co (Chartered Accountants), Abuja, unmodified opinion · signed
Auditor's sign-off: Friday O. Inneh, FCA, for Nexia Agbo Abel & Co
Final status: Independent auditors' report to the shareholders of Conoil Plc by Nexia Agbo Abel & Co (Friday O. Inneh, FCA, FRC/2012/ICAN/00000000258), unmodified opinion (p28), hand-signed with an ICAN seal and dated 17 June 2025 (p30, scanned page image). Statements approved by the board on 11 June 2025 and signed by the finance director, a director and the acting CEO (p37, page image).
- Document date
- 17 Jun 2025
- Auditor's report
- 17 Jun 2025
- Board approval
- 11 Jun 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- company statements · NGN thousands (printed “N'000”)
- Printed rounding differences kept as printed: 2024 profit before tax 11,004,039 against its lines' sum 11,004,038 (p36); 2023 opening cash 176,149 plus the year's decrease (20,855,313) gives (20,679,164) against the printed (20,679,165) (p39; note 22 prints (20,679,164)). The 2023 closing / 2024 opening cash (20,679,165) in the cash flow is 1 above cash and bank 11,326,753 less overdraft 32,005,917 = (20,679,164) on the statement of financial position, so the two 2023 cash-to-balance-sheet checks fail by 1 (rounding as printed).
- No operating-profit subtotal is printed (p36). Cash and cash equivalents in the statement of cash flows are net of the bank overdraft printed as 'Borrowings' (note 22, p66), so they are negative ((21,410,817); 2023: (20,679,165)).
- Earnings per share printed in kobo (1,264; 2023: 1,422, p36; diluted printed identically) is stored in naira (÷100) with the printed figure and unit kept.
Technical details
- File
- 78 pages, with a text layer
- SHA-256
9461528a55914b4a3647387388f46f8f313a807da709e77ca709533a200e7d7e- Entity as printed
- Conoil Plc (RC: 7288)
- Note
- The independent auditors' report (PDF pp28-30) is a scanned image with an OCR text layer that matches the printed page; the primary statements have a native text layer.
- Exchange copy
- retrieved 2026-10-08T18:08:19Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
Download
Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.