….Hinges Promise On New Investments, Proactive Marketing Strategies
The Chairman of the Board of Directors of TotalEnergies Marketing Nigeria Plc, Mr. Jean-Phillipe Torres, has promised shareholders of the oil and gas company of the board and management’s commitment to ensuring that their investments will continue to yield good returns this year and the years ahead.
Torres who gave the assurance to the shareholders during the company’s 48th Annual General Meeting held virtually last Thursday, maintained that though the financial performance in the financial year 2025 was low due to the volatility of the operating environment, the Board and management were adopting proactive strategies to return the company to profitability and sustainable growth in the years ahead.
Despite the volatility in the operating environment, the industry expert said that the company remained resilient, forward‑thinking, and committed to delivering long‑term value as safety remains the core value of the oil marketing company.
- Advertisement -
Responding to questions by some shareholders, including the President, Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Igbrude; and Mr. Anthony Katchy, the chairman explained: “As you all know, the macroeconomics situation not only in Nigeria and several other countries is very challenging. In the oil industry in Nigeria, the supply was extremely complicated and challenging and the volatility of the oil prices during the whole year generated many adverse situation because it exposed the company to negative stock effects most of the time.
“Also, the downstream market in the country dramatically changed with the coming on stream of Dangote Refinery and the market conditions have changed and so the management decided to start price holds and stocks, which significantly impacted on our sales and also on the margins. This is unfortunately the hard situation we had to face and I am sure that like me, you know that the management of the company did its very best to mitigate the situation”, Torres added.
Speaking on the profitability outlook for the company in the years ahead, the chairman recalled that so many things were done last year to restore the profitability of the company.
“He clarified: “We can say that in the first quarter of this year, we have significant improvements in the profitability of the company. This is quite making us optimistic about the future.
“To be precise, what did the management and the staff of the company do in order to make sure that in the future your company will continue to be profitable? Obviously, the first one is to make sure that we work with one Motto, which is Operational Excellence. So, which is to deliver the best services to our stations to our customers, to have the best products mainly our lubricants, to make sure that the lubricants we sell are the best and in our expectations to ensure improved salaries for our workers and ensure that 10 or 11 of our stations are among the best in the country to attract our customers and to make sure that they are happy.
“Also, we have to make sure that the supply of the company will be free. It wasn’t at all easy last year most of the time because of the challenges in the downstream market in 2025 most of the time but it has really improved in the last month and we have to work with all stakeholders in order to make sure that it continues like this.
“We also have to make sure that we manage our fixed costs, our administrative costs in a very precise manner and the same for the cash management. Last but not the least, we will continue to invest, to spend money not on recurrencies but capital expenditure in order to make sure that even if the environment is complicated for the time being, we keep investing for the future, we keep investing to have sustainable profitability of your company in the long run”, the chairman assured.
Torres expressed optimism that the company’s re‑engineered structure and highly capable workforce would position it to deliver excellent returns to its shareholders in 2026 and in the years ahead.
He thanked the company’s management and staff for their commitment to the sustainable growth of the company as well as the shareholders, customers, transporters, and suppliers for their support, cooperation, patronage, and understanding of the period under review and towards sustaining the company’s profitability in the years ahead.
