Economy
TOTALENERGIES Marketing Nigeria Plc has attributed its decline in revenue and sales volumes in 2025 to a combination of macroeconomic challenges, supply disruptions, price volatility and intense competition in Nigeria’s downstream petroleum sector.
The Chairman of the Board of Directors, Mr Jean-Philippe Torres, disclosed this at the company’s 48th Annual General Meeting (AGM), held virtually on Thursday.
Torres said the operating environment remained difficult throughout the year.
According to him, the company’s revenue fell by more than 20 per cent, while product sales volumes declined even more sharply.
“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 challenges and volatile fuel prices exposed the company to significant inventory losses, adversely affecting profitability.
Torres noted that the start of local refining operations altered market dynamics, while aggressive price competition among industry players further pressured sales and margins.
“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.
In spite of the setbacks, Torres said the company had begun to recover following measures taken by management to improve operational efficiency and restore profitability.
“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 the company would continue to focus on operational excellence, customer satisfaction, reliable product supply and prudent cost management.
He reaffirmed TotalEnergies’ commitment to long-term investments aimed at sustaining profitability and growth.
“We keep investing for the future and to ensure sustainable profitability of the company over the long run,” Torres said.
(NAN)
W.U
June 18, 2026
Tags: Mr Jean-Philippe Torres