Industrial & Medical Gases Strengthens Balance Sheet As Equity Grows 100%
Industrial & Medical Gases (IMG) Nigeria Plc delivered a resilient performance in 2025, doubling shareholders’ equity to N11.84 billion and paying a cash dividend of N365.5 million, amounting to 50 kobo per share, despite a challenging business environment marked by inflationary pressures, rising operating costs, and foreign exchange volatility.
The audited results show that total equity rose from N5.91 billion in 2024 to N11.84 billion in 2025, while share capital increased by 46 per cent to N365.53 million from N249.75 million. The number of issued Ordinary Shares also climbed by 46 per cent to 731.06 million shares, reflecting an expanded ownership structure and stronger shareholder funds.
The performance underscores the resilience of IMG’s business model and the effectiveness of its strategic and financial management.
For the year ended December 31, 2025, IMG recorded revenue of N8.45 billion, up slightly from N8.38 billion in the previous year. Profit After Tax stood at N990 million, compared with N1.62 billion in 2024, as economic headwinds weighed on earnings. Nevertheless, the company continued to enhance shareholder value through a stronger balance sheet and sustained returns to investors.
Chairman of IMG Nigeria Plc, Aminu Ado, described the 2025 financial year as a testament to the company’s resilience, adaptability and strong stakeholder alignment.
“Despite the challenging operating environment experienced during the year, IMG Nigeria Plc delivered a resilient and commendable performance in 2025. The year demonstrated our ability to sustain business growth amid economic headwinds and industry pressures,” Ado said.
Speaking on the company’s outlook, Acting Managing Director, Abayomi Oke said management remains focused on operational efficiency, customer retention, cost optimisation and strategic business development initiatives to drive sustainable growth.
“We remain focused on operational excellence, customer retention, cost optimisation and strategic business development initiatives aimed at sustaining profitability and long-term growth,” Oke said.
“While the outlook for both the global and domestic economy remains cautiously optimistic, we are confident in the resilience of our business and our ability to continue delivering sustainable growth and long-term shareholder value.”
At the company’s Annual General Meeting, shareholders commended the Board and Management for successfully navigating a difficult operating environment and preserving value amid widespread economic uncertainty.
Shareholders unanimously approved the dividend declared and all resolutions presented at the meeting, including the re-election of directors Aminu Ado, Adebola Oluwasuyi, and Ishaya Danjuma.
Market watchers explained that the strong shareholder endorsement reflects growing confidence in IMG’s strategic direction, financial discipline and ability to sustain growth despite prevailing economic challenges.
