TotalEnergies’ Nigeria Downstream Unit Boosts Dividend by 60%

The board of TotalEnergies Marketing Nigeria, a fuel marketing company, has proposed a dividend payment of N13.6 billion to shareholders for 2024, up 60 percent compared to the previous year.

The company saw its profit for the 2024 financial year more than double to N27.4 billion as revenue crossed the N1 trillion mark.

The dividend translates to N40 per share, compared to N25 in the previous year, according to its audited financial statements.

The Nigerian petroleum downstream outlook for 2025 shows possible stability after multiple reforms, said Jean-Phillipe Torres, chairman of the company.

“However, we are mindful of the current supply situation which has been impactful on our business and may continue in 2025 and onwards,” he said. “As we look forward to the future, our focus is clear: to increase our market share, invest and expand our influence across the downstream sector and maintain our competitiveness through the affiliation of new stations…”