Listed oil and gas companies on the Nigerian Exchange (NGX) generated a total revenue of N4.9 trillion in the first half of 2025.
This represents a 33.45% increase from the same period in 2024, reflecting stronger sales across the sector and growing market demand.
Revenue, often called “the top line,” is the total money a company earns from selling goods and services before subtracting any costs or expenses.
A solid revenue stream is important because it gives companies the ability to cover costs and still generate profit. It also signals growth and resilience, which can attract investors even when operational challenges exist.
This report focuses on the oil and gas companies that generated the highest revenues in the first half of 2025, placing more emphasis on actual figures than on year-on-year performance.
Here are the top Nigerian oil and gas companies by revenue in H1 2025.
Japaul Gold & Ventures Plc ranked 7th with a turnover of N1.7 billion in H1 2025, a 40.75% increase from N1.21 billion in H1 2024.
- Offshore activities contributed the bulk of the revenue at N1.47 billion, compared to N657 million in the previous year.
- Dredging yielded N178.8 million, while quarrying activities brought in N51.9 million.
Performance improved following the company’s N26 billion sand mining deal with Gravitas Investment Limited in Q4 2024 to mine 3.5 million cubic meters of sand for the reclamation of Gracefield Island along Chevron Drive in Lekki.
Pre-tax profit for the first half of 2025 stood at N420.2 million, up 4.20%, despite higher sales costs of N578 million (up 53.96%) and administrative expenses of N749.9 million (up 62.88%).
Total current assets fell to N15.9 billion from N16.4 billion, while current liabilities rose 9.87% to N11.3 billion.
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