TotalEnergies Completes 251 Solarized Filling Stations, Makes N27.4 Billion Profit In 2024
. Offers N40 Per Share Dividend To Shareholders
By Sulaimon Salau
TotalEnergies Marketing Nigeria Plc, a major downstream operator in the Nigerian oil and gas sector, has completed about 251 filling stations fully equipped with solar energy technologies across the country.
TotalEnergies at its 47th Annual General Meeting, held in Lagos today (Friday), said the company made a Profit after tax of N27.4 billion in the 2024 operating year, representing a 112% exceptional increase from N12.9 billion realised in the same period 2023.
The Chairman of the Company, Mr. Jean-Phillipe Torres, in his speech at presentation of the Directors’ Report and Financial Statements for the year ended 31 December 2024, in Lagos, said in maintaining its leadership position in the downstream oil and gas sector, TotalEnergies’ nationwide network of stations have continued to serve and empower communities and businesses.
He said: “Despite global, national, local economic and social challenges, the company increased her turnover by 64% from N635.95 billion in 2023 to N1.041 billion in 2024.
“Profit after tax increased by an exceptional 112% from N12.9 billion in 2023 to N27.4 billion. This is indeed a remarkable achievement in the face of uncertainties in the year under review,” he stated.
The board however approved the sum of N13.6 billion representing N40.00 per share to be distributed to shareholders as full and final dividend for the year 2024.
Torres said, “the company has continued to demonstrate trust and confidence in the country with its continuous investment in the business with the completion of 251 solarized stations, 15 T-Air Projects, 10 Mobility Shops, and 8 new QAS es, all of which have greatly enhanced the appearance and functionality of its service stations.
“Additionally, an Anto-Fast twin- bay was commissioned at our Old Toll Gate station in Lagos, bringing the total to 9 (nine) across The country- Major reconstruction works were done at the Onigbagbo and Alapere 2 stations in Lagos which should fuccer enhance our service delivery to our esteemed customers.
“Furthermore, we installed 25 new Pies & More Ski, increasing the total number of these outlets to 37, and rebranded 417 stations. We are also proud to have Commissioned the first 100% power- autonomous service station at our Tipper Garage location in Abuja. Our B2B business had a remarkable development, thanks to strategic partnerships and well-structured business models,” he stated.
According to the TotalEnergies boss, lubricants sales increased during the period, while it also launched a Lubricant Packaging Can Recycling Project to reflect its commitment to combating counterfeiting, enhancing customer loyalty, and promoting sustainability.
Emphasising the company’s unwavering commitment to Safety, Health, Quality, and Environmental Protection, Torres said TotalEnergies has significantly enhanced the safety of its depots, plants and the entire supply chain.
He said: “Our collaboration with our transporters yielded results with the addition of over 100 trucks to our fleet and commencement of the installation of Al cameras on heavy vehicles (HV) and ABS on Semi-trailers, ensuring a PATROM-compliant fleet thus enhancing our commitments to transport safety and operational efficiency”.
He commended the employee for their unwavering commitment during the operational year, notwithstanding enormous challenges, uncertainties and unfriendly economic environment.
“They remained steadfast and committed to our vision, value proposition including our core values of safety, respect for each other, pioneer spirit, stand together, and being performance minded. The result presented today, and several achievements are testament to their resilience and doggedness at a period like this in our nation,” he stated.
He, however, applauded TotalEnergies loyal customers, transporters, and shareholders for their trust, the board for its steer, management for its dynamism and the staff for their dedication and commitment to actualize this performance.
He stated that the petroleum downstream outlook for 2025 showed possible stability after multiple reforms, adding that the company is determined to “increase our market share, invest and expand our influence across the downstream sector and maintain our competitiveness through the affiliation of new stations, expansion of SFS business opportunities and redefined training of staff to improve customer experience”.
