TotalEnergies Marketing Nigeria Plc has returned to the path of profitability, thanks to a sharp drop in finance costs as the central bank’s gradual adoption of a dovish stance is leading to a reduction in borrowing costs for companies.
For the first three months through March 2026, TotalEnergies posted a profit after tax (PAT) of N1.17 billion from a loss after tax of N120.07 million as at March 2025.
The bottom line (profit) was supported by a 30.20 percent reduction in finance costs to N4.27 billion in March 2026 from N6.82 billion the previous year.
Of course, the gradual or moderation in interest rates on the back of the Aepx bank’s cut in the monetary policy rate (MPR) as inflationary pressure eases is responsible for the slump in the interest on loans that firms are paying.
At its 304th meeting in Abuja, the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) reduced the monetary policy rate (MPR) from 27 percent to 26.5 percent.
The yield on Nigeria 10 year bond yield held steady at 14.95 percent on April 28, 2026. Over the past month, the yield has edged up by 0.10 points, though it remains 4.94 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity.
TotalEnerigies is reeling from stiff competition as the coming onboard of the 650,000bpd Dangote Refinery significantly curbed importation which had benefited the downstream oil and gas giant.
For instance, sales were down 11.02 percent to N197.18 billion as at March 2026 from N221.62 billion as at March 2025.
 Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
