Key Takeaways:
Nigeria’s oil and gas sector posted an impressive ₦730.7 billion in combined profit after tax (PAT) in 2024, underlining a strong recovery and operational resilience. Aradel Holdings led the sector with a staggering 361% year-on-year PAT growth, reaching ₦247.79 billion. Oando and Seplat Energy followed closely, reporting ₦220.12 billion and ₦214.25 billion, respectively. Together, the three companies accounted for 93.4% of total sector profits.
TotalEnergies delivered a solid ₦27.5 billion, reflecting a 113% increase from the previous year. Conoil and MRS Oil also posted positive growth of 15% and 60%, respectively. Meanwhile, Japaul Gold and Eterna Plc made notable gains, with 164% and 114% PAT growth, despite reporting relatively modest figures of ₦1.83 billion and ₦1.35 billion.
FCT, Ogun, and Nasarawa consistently rank as the top three states with the highest number of road accidents.
The FCT recorded its peak accident figures in 2022, particularly in Q2 (842 cases) and Q4 (864 cases).
In Q2 and Q3 of 2024, Ogun State surpassed the FCT in the number of reported accidents.
Across these three states, there has been a notable decline in accident numbers, with an average decrease of approximately 37.6% between Q2 and Q3 2024.