Conoil has reported a significant decline in profits for the year 2025, with figures dropping over 75% to N2.18 billion, despite generating a revenue of N301 billion. This sharp decrease in profitability has been attributed to rising finance costs and challenging macroeconomic conditions affecting the business environment. The company’s financial performance highlights the impact of external economic factors on its operations, underscoring the difficulties faced by the oil and gas sector in Nigeria.
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