Prime Business Africa
A 26 percent decline in Total Energies’ revenue made 2025 an unprofitable year for the oil company, according to the firm’s unaudited financial statements for last year.
Total generated N767.63 billion in revenue between January and December 2025, which is below the N1.04 billion generated during the corresponding period in 2024.
Join our WhatsApp ChannelThe decline in turnover was reflected in the company’s cost of production, which dropped by 25.97 percent year-on-year, from N926.15 billion to N685.55 billion.
Prime Business Africa noted that the cost of sales slightly gulped more revenue in 2025 than it did the year before, as production cost gulped 89.30 percent of turnover last year, compared to 88.89 percent in 2024.
With revenue and cost of sales following the same path, gross profit decreased to N82.07 billion in 2025, falling below the previous year’s N115.75 billion, representing a 29.09 percent decline.
Similarly, other income dropped, decreasing to N14.12 billion last year, which is 54.15 percent decline when compared to the N30.80 billion posted in 2024.
However, Total recorded zero other expenses during the period under review, compared to the N5.23 billion incurred between the first quarter (Q1) and fourth quarter (Q4) of 2024.
Selling and distribution costs also declined last year, dropping from N14.65 billion in 2024 to N9.04 billion in 2025, indicating a decrease of 38.29 percent.
However, Total’s administrative expenses increased by 19.70 percent year-on-year, according to the financial statement, rising from N64.71 billion to N77.46 billion, while net impairment loss on financial assets surged by 128.71 percent, from N83.07 million to N190.01 million.
Consequently, the oil producer’s operating profit fell to N9.49 billion in 2025, from the N61.86 billion achieved in 2024, indicating an 84.66 percent decline.
The company further saw a 42.08 percent year-on-year decline in its finance income, which dropped from N6.26 billion to N3.62 billion, while finance costs dropped slightly by 0.99 percent, from N25.87 billion to N25.61 billion.
As a result, net finance costs increased to N21.99 billion in 2025 to N19.61 billion the previous year, reflecting a 12.13 percent drop.
This led to the company recording a N12.5 billion loss before tax last year, compared to the N42.25 billion pretax profit achieved in 2024.
Following the loss, Total saw a 68.30 percent decrease in tax expense, as it dropped from N14.75 billion in 2024 to N4.67 billion in 2025.
Consequently, Total recorded a N17.17 billion loss after tax in 2025, indicating the company was unable to achieve the N27.49 billion profit after tax (PAT) reported in 2024.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
