11 Plc, formerly Mobil Oil Nigeria Plc, reported strong revenue and operational efficiency for the 2025 financial year, even as premium motor spirit price volatility and inventory revaluation weighed on profitability.
Chairman Ramesh Kansagra, speaking at the company’s 48th Annual General Meeting at Abuja Continental Hotel, said the results reflected improved product availability, network optimization, and growth in non-fuel business segments in the year ended Dec. 31, 2025. His address was delivered by Non-Executive Director Alhaji Abdulkadir Aminu, who chaired the meeting.
Kansagra said profitability was hit by significant losses from PMS price swings and the revaluation of imported inventory. He attributed the company’s resilience to a strong balance sheet, preserved liquidity, and disciplined financial management.
“Our people are the cornerstone upon which our long-term success is built,” he said, noting 11 Plc’s focus on talent development, inclusion, and mutual respect.
Shareholders unanimously approved the board’s recommendation of a N9.50 dividend per share. Kansagra said the payout reflects a balance between rewarding loyalty and funding strategic growth.
“Our operational performance is a testament to our ability to adapt to challenging market conditions,” he said. “Despite the turbulence last year, we remained focused on our core strengths and delivered a resilient performance.”
Looking ahead, he said 11 Plc plans to strengthen partnerships with domestic refiners, expand in alternative fuels, and boost operational efficiency. He cited the increasing availability of locally refined products and government efforts to improve the business environment as positive signals.
The company also highlighted the performance of its hospitality arm. Kansagra said Lagos Continental Hotel continues to set industry benchmarks for service and value creation.
“Our strategic initiatives will drive sustainable growth and long-term value creation,” he said.
