TotalEnergies Marketing Nigeria Swings to Net Profit in First Quarter

TotalEnergies Marketing Nigeria, a Lagos-listed fuel retailer, posted a profit after tax of N1.17 billion for the first quarter of this year, compared with a loss of N120.03 billion in the same period of 2025.

The company, a subsidiary of the French oil major, saw its revenue fall to N197.18 billion from N221.62 billion a year earlier, according to results released on Wednesday. Its shareholder funds declined to N48.71 billion in March from N61.38 billion.  

Amid a price war in the fuel market as Dangote refinery ramped up supply, TotalEnergies Marketing Nigeria reported a loss of N17.18 billion in 2025 compared with a profit of N27.49 billion in the previous year.