GOIL Posts Strong 2025 Performance, Sets Stage for Bigger Growth
GOIL PLC has held its 57th Annual General Meeting (AGM), with Board Chairman, Nana Philip Archer, highlighting the Company’s resilient performance, strategic discipline, and commitment to sustainable growth despite a challenging global petroleum market.
Addressing shareholders, the Chairman noted that GOIL’s strong focus on operational efficiency and prudent management resulted in a 7.05% increase in Net Profit After Tax, rising from GH¢84.70 million in 2024 to GH¢90.67 million in 2025, despite a decline in revenue due to prevailing market conditions.
The Chairman further highlighted improvements in operational efficiency, cost optimisation, and enhanced shareholder value, including the Board’s recommendation of a final dividend of GH¢0.060 per share for the 2025 financial year.
Shareholders voted overwhelmingly to approve the Board’s request to authorize Management to raise up to GH¢1 billion from the bond market to support the Company’s strategic growth agenda.
Responding to questions from shareholders, Group CEO & Managing Director, Mr Edward Abambire Bawa, explained that the proposed funds would be used to expand GOBitumen storage capacities and LPG bottling plants to better serve Ghanaians, while also helping the Company restructure its debt portfolio through the repayment of short-term loans to strengthen GOIL’s long-term financial position.
Shareholders praised the Board and Management for the tremendous turnaround in GOIL’s fortunes, the growth in shareholder value, and the increase in dividend. They further encouraged Management to sustain the momentum and deliver even stronger performance in the coming years. Shareholders particularly commended the Group CEO & Managing Director for the transparency and clarity demonstrated in responding to questions at the AGM.
The 57th AGM brought together shareholders, members of the Board, Management, regulators, members of the investment and financial community, staff, and other distinguished stakeholders to reflect on GOIL’s 2025 performance and discuss the Company’s strategic direction for future growth.
Backed by strong shareholder confidence, a clear growth strategy, and a renewed commitment to excellence, GOIL is not only building on today’s gains but positioning for an even stronger tomorrow.
GOIL - Good Energy.
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