TotalEnergies’ Nigerian Retail Business Bounces Back as Half-Year Profit Nears N5bn

TotalEnergies Marketing Nigeria Plc returned to profitability in the first half of the year, recording a profit after tax of N4.95 billion as higher revenue supported its performance.

The fuel retailer’s latest unaudited financial statements, released on Thursday, showed a sharp turnaround from the N2.86 billion loss reported in the corresponding period a year earlier.

Revenue increased by 5 percent to N443.99 billion during the period, signalling continued growth in sales despite pressures in Nigeria’s downstream petroleum market.