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.
Seplat tops the list with N849.5 billion in cash and cash equivalents, up 17.76% from N721.3 billion in the previous year.
Total current assets hit N2.7 trillion, driven largely by trade and other receivables (N869.4 billion) and the company’s sizeable cash position.
Current liabilities fell to N2.25 trillion, down from N2.6 trillion, with trade and other payables (N1.6 trillion) comprising the largest portion.
Seplat’s quick ratio stood at 0.90, reflecting fairly balanced liquidity.
The company reported a powerful pre-tax profit of N878.9 billion, up 139.70%, backed by revenue of N3.3 trillion, up from N1.07 trillion in the previous year.
Operating cash flow surged to N1.55 trillion, a significant rise from N535.6 billion a year earlier.
