Conoil Plc, a marketer of refined petroleum products, also into manufacturing and marketing of lubricants, household and liquefied petroleum gas for domestic and industrial use has released its 2021 financial statements with 114% rise in profit for the year to N3.083 billion from N1.440 billion in 2020.

Revenue for the year rose by 7.9% to N126.726 billion from N117.471 billion in 2020.

Meanwhile, the company has proposed dividend of N1.735 billion up by 66.7% from N1041 billion in 2020.

The dividend translated to 250 kobo per share from 150 kobo in 2020.