Nigeria’s leading oil and gas companies closed the 9-month period ended September 2025 with a combined cash balance of N1.48 trillion.
This marks a 0.76% rise from the N1.46 trillion recorded in the same period of 2023, reflecting an uptick in cash and bank balances across the sector.
Cash in the bank represents funds a company can access immediately, whether sitting in regular bank accounts or short-term deposits.
It is a vital indicator of financial strength, showing how quickly a company can meet its obligations, pursue growth opportunities, or cushion itself against unexpected shocks.
In financial statements, this appears under “cash and cash equivalents” on the balance sheet, covering not only physical cash but also near-cash assets that can be converted into liquid funds within a short period.
For this report, we rank Nigeria’s leading oil and gas companies by their cash and bank balances for the period ended September 30, 2025.
Oando Plc places third with N143.7 billion in cash and cash equivalents, lower than the N221.7 billion reported the previous year.
The company expanded its current assets to N1.15 trillion, supported predominantly by trade, other receivables and contract assets totaling N805.6 billion.
Current liabilities decreased to N4.01 trillion, down from N4.4 trillion in 2024. Quick ratio settled at 0.27.
Oando reported a pre-tax profit of N19.4 billion, and after accounting for N181.8 billion in tax credit, achieved a post-tax profit of N201.3 billion, representing a 163.85% increase.
Operating cash flow improved, with the outflow narrowing to N234.9 billion, compared with N495.1 billion in the prior year.
