C&I Leasing Reports N3.9 bn Profit as Revenue Climbs to N50.2 bn

Kayode Tokede

C&I Leasing Plc reported a profit after tax of N3.9 billion for the year ended 31 December 2025, more than double the N1.6 billion recorded in 2024, despite operating in one of the most challenging business environments Nigeria has seen in recent memory.

The audited financial statements for December 2025 show gross earnings increasing 36.5 percent from N36.7 billion in 2024 to N50.2 billion in 2025. Lease income, the core of the business, rose from N31.1 billion to N44.5 billion, while net outsourcing income grew 26.2 percent to N1.7 billion. Shareholders’ equity closed the year at N51.1 billion, up from N48.2 billion in 2024. Basic earnings per share were 122.77 kobo, compared with 38.58 kobo a year earlier.

Profit growth occurred even as the operating climate applied pressure from several fronts. Rising interest rates, exchange‑rate exposure and high inflation increased costs. Profit before tax was N3.0 billion, up from N2.7 billion in 2024, and the net profit margin after tax improved to 7.8 percent from 4.4 percent. The EBITDA margin fell to 52.9 percent from 58.1 percent, reflecting the broader cost environment, while the company’s asset turnover remained steady at 0.39 times.

“Despite significant macro and micro‑economic trends in 2025, the company has delivered an impressive set of results, anchored on our key strategic goal of continuously improving operational efficiency in anticipation of unforeseen circumstances,” said Lenin Ugoji, Group Managing Director and Chief Executive Officer of C&I Leasing Plc.

Ugoji acknowledged the difficulties faced during the year. “The year 2025 was a particularly challenging year for the company and operational service businesses in general, and it highlights the resilience of our business model in spite of prevailing harsh market conditions ranging from rising interest rates and exchange‑rate revaluation risks to high inflation, which put pressure on the cost of doing business in the country,” he said.

Beyond economic headwinds, the company also dealt with compliance pressures across its operating footprint, which includes marine services, vehicle fleet management, personnel outsourcing and asset tracking in Nigeria, Ghana, the UAE and the soon‑to‑launch Sierra Leone operation. The varied jurisdictions subject the group to different regulatory requirements, and filings in some locations experienced delays. The board has since established a dedicated Compliance Unit to bring structure and consistency to regulatory reporting in 2026. Management restructuring has also taken place, with senior members of the team elevated to executive positions to strengthen the group’s leadership capacity.

Looking ahead, the chief executive expressed both caution and conviction. “2026 into 2027 is expected to be a period of national growth, especially in the oil and gas sector, anchored on the country’s target of 3 million barrels per day by 2030. This is expected to usher in increased long‑term tenders in the sector, thereby providing a basis for long‑term investment in production and aggressive marginal oil and gas field expansion,” Ugoji said.