By Barbara Nwaiwu
TotalEnergies Marketing Nigeria Plc has attributed its decline in revenue and product sales volumes in 2025 to macroeconomic pressures, supply disruptions, fuel price volatility and heightened competition within Nigeria’s downstream petroleum sector.
The Chairman of the Board of Directors, Mr Jean-Philippe Torres, disclosed this on Thursday during the company’s 48th Annual General Meeting (AGM), held virtually.
Torres said the business environment remained challenging throughout the year, affecting the company’s financial performance.
According to him, TotalEnergies recorded a decline of more than 20% in revenue, while product sales volumes dropped at an even faster pace.
“This performance, which is obviously not satisfactory for the management of the company and for the shareholders as well, is the consequence of several factors,” Torres said.
He explained that persistent supply constraints and fluctuations in fuel prices exposed the company to significant inventory losses, reducing profitability during the period under review.
Torres also stated that the commencement of local refining operations altered market conditions in the downstream sector and intensified competition among operators.
“As you all know, the downstream market in the country has dramatically changed with the refinery coming on stream. The market conditions changed and some operators decided to start price wars during the peak part of the year, which had a significant impact on our sales and margins,” he said.
Despite the setbacks, Torres said management had introduced measures aimed at improving operational efficiency and restoring profitability.
According to him, the company had already started seeing signs of recovery.
“We can see that in the first quarter of this year, 2026, we have a very significant improvement in the profitability of the company and it really makes us quite optimistic for the future,” he said.
The chairman said TotalEnergies would continue to prioritise operational excellence, customer satisfaction, dependable product supply and prudent cost management.
He reaffirmed the company’s commitment to sustaining investments that would support long-term growth and profitability.
“We keep investing for the future and to ensure sustainable profitability of the company over the long run,” Torres said.
