TotalEnergies Shareholders Demand Strategies Amid Losses

During the virtual 48th Annual General Meeting, shareholders of TotalEnergies Market Nigeria Plc expressed the need for the company to deploy concrete strategies to navigate market distortions affecting its performance. The company reported a revenue of ₦767.6 billion for the 2025 fiscal year, marking a 26% decline from ₦1.04 trillion.

Additionally, TotalEnergies faced a loss of ₦12.5 billion in 2024, with a projected profit of ₦42.3 billion before tax for 2025. Mose Igbrud, the National Coordinator of the Independent Shareholders Association of Nigeria, voiced concerns over the steep fiscal drop, emphasizing the need for strategic measures to prevent future losses.

Mr. Jean Philipp Torr, Chairman of TotalEnergies Market Nigeria, acknowledged the underwhelming results and attributed them to structural shifts in the downstream market, aggressive competition, and price volatility.

The company aims to re-energize its strategy to ensure full dividend payments moving forward.