Shareholders of TotalEnergies Marketing Nigeria Plc have called on the company’s leadership to strengthen its business strategy following a difficult financial year that saw earnings and profitability decline significantly.
The appeal was made during the company’s 48th Annual General Meeting, conducted virtually in accordance with the Business Facilitation Act 2022.
TotalEnergies reported weaker financial performance in 2025, with revenue falling by 25 per cent and profitability dropping sharply. The downturn prevented the company from declaring dividends to shareholders.
Representing retail investors, the National Coordinator of the Independent Shareholders Association of Nigeria, Moses Igbrude, acknowledged the company’s history of rewarding shareholders but expressed concern about the latest results.
He urged management to introduce measures that would prevent a repeat of the losses and restore the company to a position where it can resume dividend payments.
Another shareholder, Mr Kachi, said the company’s first-quarter performance in 2026 indicated that conditions could improve. He noted that TotalEnergies operated in a highly competitive environment marked by aggressive pricing among industry players and expressed optimism about stronger results in the current year.
Chairman of TotalEnergies Marketing Nigeria Plc, Jean Philippe Torres, attributed the company’s poor 2025 performance to major changes in Nigeria’s downstream petroleum sector, including the emergence of local refining capacity, supply chain challenges and intense competition that squeezed profit margins.
According to Torres, prolonged foreign exchange volatility also affected the company’s operations, resulting in significant losses linked to inventory valuation.
Despite the challenges, he said the company has already begun to see positive results from corrective actions introduced by management. He pointed to a strong improvement in profitability during the first quarter of 2026, saying it has boosted confidence about the company’s outlook.
Torres explained that TotalEnergies intends to focus on operational efficiency, prudent cost management and long-term investments rather than engage in unsustainable price competition.
He added that the company remains committed to working closely with stakeholders to ensure stable product supply while maintaining strict control over operating expenses and cash flow.
The chairman also reaffirmed the firm’s commitment to continued capital investment, saying such spending is necessary to secure future growth and maintain competitiveness in the evolving downstream market.
He expressed confidence that the company’s strategy would support sustainable profitability and strengthen its market position in the years ahead.
