Key points
- TotalEnergies Marketing Nigeria Plc reports over 20% revenue decline in 2025
- Sales volumes also fell sharply due to market pressures
- Company cites supply issues, price volatility and competition
- Local refining and price wars reshaped downstream petroleum market
- Early 2026 shows signs of recovery
- Shareholders push for stronger investment in lubricants and solar
Main story
TotalEnergies Marketing Nigeria Plc has attributed its decline in revenue and sales volumes in 2025 to macroeconomic pressures, supply disruptions, price volatility and increased competition in Nigeria’s downstream petroleum sector.
The Chairman of the Board, Jean-Philippe Torres, made this known at the company’s 48th Annual General Meeting (AGM) held virtually on Thursday. He said the operating environment remained difficult throughout the year, noting that revenue fell by more than 20 per cent while product sales volumes declined even more sharply. Torres explained that persistent supply challenges and unstable fuel prices led to inventory losses that affected profitability.
He said the downstream market had changed following the start of local refining, which increased competition and triggered price wars among operators. According to him, these changes significantly affected sales and margins. Despite the decline, Torres said the company had started recovering in early 2026 following efficiency measures. He added that TotalEnergies would continue focusing on operational efficiency, customer satisfaction, reliable supply and long-term investment.
Shareholders called for stronger investment in lubricants and solar, noting that these segments recorded growth despite the overall decline. One shareholder highlighted that revenue from lubricants and other products grew by 30 per cent, increasing its contribution to total revenue from 25 per cent to 31 per cent. Other shareholder groups urged stronger risk controls to prevent a repeat of the downturn. The meeting also approved the election and re-election of several directors, including the Managing Director, Wilfried Konde.
The issues
- Market disruption from local refining operations
- Price volatility in downstream sector
- Increased competition and price wars
- Inventory losses affecting margins
- Shift toward higher-margin product segments
What’s next
- Continued cost optimisation
- Expansion of lubricants and solar segments
- Improved risk management
- Monitoring recovery through 2026
Bottom line
TotalEnergies Nigeria’s 2025 decline was driven by market disruption and competition, but early 2026 results suggest recovery and a strategic shift toward higher-margin businesses.
