Prime Business Africa
Seplat generated N4.13 trillion as revenue between the first quarter (Q1) and the fourth quarter (Q4) of 2025, rising above the N1.65 trillion recorded in 2024, according to the company’s audited results for the year ended December 31, 2025.
Analysis showed that while revenue increased by 150.39 percent, cost of sales rose by 144.49 percent to N2.76 trillion in 2025, compared to the N1.13 trillion expended on production costs the year before
Join our WhatsApp ChannelWith revenue outgrowing cost of sales, Prime Business Africa gathered that the turnover gulped by production costs declined to 66.81 percent last year, falling below the 68.42 percent recorded in 2024.
Consequently, Seplat recorded a 163.17 percent growth in its gross profit during the period under review, as it closed 2025 with N1.37 trillion, compared to the N521.42 billion reported the previous day.
The company continued its impressive run with an N87.45 billion net other income last year, which surpassed the N54.95 billion generated in 2024, representing an increase of 59.14 percent, while it recorded zero gain on bargain purchase, compared to the N149.15 billion gained in 2024.
Seplat also saw a 75.52 percent year-on-year increase in its general and administrative expenses, which rose to N378.53 billion, from N215.65 billion, while impairment loss on financial assets grew by 52.53 percent, from N15.64 billion to N23.85 billion.
Following the aforementioned deductions, the oil producer reported N1.02 trillion as operating profit in 2025, rising above the N483.35 billion recorded in 2024, indicating an increase of 111.98 percent.
However, finance income decreased by 5.08 percent year-on-year to N18.54 billion, from N19.52 billion, while finance costs increased by 102.75 percent to N281.20 billion, from N138.69 billion.
This left Seplat with net finance cost of N262.67 billion during the period under review, compared to the N119.16 billion reported in 2024, reflecting an increase of 120.42 percent.
According to the financial institution, profit before taxation (PBT) also increased by 91.42 percent to N755.50 billion last year, exceeding the N394.66 billion recorded in 2024.
However, out of the pretax profit, Seplat paid N513.92 billion as income tax expense in 2025, up by 175.13 percent when compared to the N394.66 billion tax expense reported the year before.
As a result, Seplat recorded N241.58 billion as profit after tax (PAT) in 2025, which surpassed the N207.86 billion reported in 2024, representing an increase of 16.21 percent.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
