Lower borrowing costs underpinned by the gradual stability in the interest rate environment have helped TotalEnergies Marketing return to the path of profitability.
This stellar performance is good tidings for investors who are expecting dividend payment.
For the first six months through June 2026, TotalEnergies posted profit after tax of N4.95 billion from a loss after tax of N1.68 billion as at June 2025.
The stellar performance was largely driven by a reduction in finance costs by 37.55 percent to N8.73 billion as at June 2026.
Interest expenses are falling for most Nigerian firms on the back of lower borrowing costs as the central bank has slowed down on hiking interest rates. This is partly responsible for profit growth that has given investors hope of dividend payment.
The Central Bank of Nigeria kept its benchmark interest rate unchanged at 26.5 percent, maintaining the Monetary Policy Rate, Cash Reserve Ratio, and liquidity ratio to stabilize inflation and the naira.
The yield on Nigeria 10 year bond yield eased to 17.39 percent on July 30, 2026, marking a 0.11 percentage point decrease from the previous session.
Despite the deregulation and adoption of a market-reflective pricing adjustments for petroleum products (like Premium Motor Spirit and Automotive Gas Oil), TotalEnergies total sales increased by a mere 4.75 percent to N444 billion as at June 2026 from N423.89 billion as at June 2025.
That compares with 93.14 percent revenue growth to N529.94 billion in the corresponding period of 2024, according to data gathered by MoneyCentral.
Analysts say the onboarding of the Dangote Refinery which has a capacity  665,000 barrels a day crimped imports, which is pernicious to downstream oil markers who were making money from the importation of premium motor spirit (PMS).
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