GOIL PLC posts strong performance in 2025
GOIL PLC has reaffirmed its resilience and growth ambitions following a strong 2025 performance, with shareholders commending the Board and Management for the Company’s remarkable turnaround and renewed focus on value creation.
Speaking at GOIL’s 57th Annual General Meeting (AGM) held in Accra, Board Chairman, Nana Philip Archer, described the 2025 financial year as one marked by “resilience, renewal, and a determined pursuit of excellence” despite global crude oil price volatility and supply chain disruptions.
He noted that although GOIL’s revenue declined from GH¢20.36 billion in 2024 to GH¢18.55 billion in 2025 due to prevailing market conditions, the Company remained focused on prudent management and operational efficiency, resulting in improved profitability.
“GOIL PLC stood firm and delivered a commendable performance. Through discipline, prudence, and strategic efficiency measures, the Company achieved a 7.05 per cent growth in net profit after tax, rising from GH¢84.70 million in 2024 to GH¢90.67 million in 2025,” the Chairman stated.
According to him, the Company recorded notable improvements in operational efficiency through reductions in depot and station expenses, administrative costs, and finance expenses, reflecting GOIL’s deliberate commitment to cost optimisation and operational excellence.
The Chairman further highlighted GOIL’s commitment to enhancing shareholder value, noting the Company’s improved market performance and growing investor confidence, evidenced by the rise in GOIL’s share price from GH¢1.52 in 2024 to GH¢2.96 by the close of 2025.
He added that, in recognition of the Company’s performance, the Board recommended a final dividend of GH¢0.060 per share for the 2025 financial year.
Answering questions from shareholders, Group Chief Executive Officer and Managing Director, Mr Edward Abambire Bawa, explained the rationale behind Management’s request to raise up to GH¢1 billion from the bond market, following shareholders’ overwhelming approval of the proposal at the AGM.
He indicated that the proposed funds would primarily support the expansion of GOBitumen storage capacity and LPG bottling plants to enhance service delivery and better meet the energy needs of Ghanaians. According to him, part of the funds would also be used to restructure GOIL’s debt portfolio through the repayment of short-term loans, thereby improving the Company’s financial flexibility and long-term sustainability.
Shareholders who attended the AGM applauded the Board and Management for what they described as a tremendous turnaround in GOIL’s performance, commending in particular the increase in the shareholder dividend, and encouraged them to maintain the momentum and continue implementing strategies that would deliver even higher shareholder value in the coming years.
Particular commendation was reserved for Mr Edward Abambire Bawa, with shareholders expressing appreciation for the transparency and clarity of his responses to questions during the meeting.
The AGM brought together shareholders, Board members, Management, regulators, and other stakeholders to review the Company’s 2025 performance and deliberate on key strategic matters for sustained growth.
Photo Caption: Some management staff and board members of GOIL PLC during the AGM
BY TIMES REPORTER
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