- – TotalEnergies Nigeria’s revenue drops 18% in Q1 2025
- – Company records N120 million net loss amid challenging market conditions
- – Shareholders’ funds increase despite financial downturn
- TotalEnergies Marketing Nigeria Plc has reported a significant financial downturn in the first quarter of 2025, with revenue declining by 18% to ₦221.61 billion, compared to ₦269.84 billion in the same period of 2024. The company also recorded a net loss after tax of ₦120 million, a stark contrast to the ₦11.50 billion profit achieved in Q1 2024.
Profit before tax plummeted by 93%, falling from ₦16.84 billion to ₦1.12 billion year-on-year. Despite these challenges, TotalEnergies Nigeria’s shareholders’ funds saw an uptick, rising from ₦59.09 billion in Q1 2024 to ₦61.38 billion in Q1 2025. The company’s share capital remained steady at ₦169.76 million.These results mirror broader trends within TotalEnergies SE, the parent company, which reported an 18% drop in adjusted net income to \$4.2 billion for Q1 2025, slightly below analysts’ expectations. The decline was attributed to lower oil prices and weak refining margins, despite a 4% increase in oil and gas production.
