TotalEnergies Marketing Nigeria Plc has cautioned that Nigeria’s deregulated downstream petroleum market will struggle to deliver sustainable value unless it is supported by firm regulatory discipline, consistent policies, and strict safety enforcement.
The oil major stressed that the exit of multinational oil companies from Nigeria’s downstream sector over the years was less about capital constraints and more about the absence of regulatory consistency and enforcement.
Speaking at a high-level panel, “Driving Domestic Value: Transforming Downstream Markets and Refining,” during the 2026 Nigeria International Energy Summit in Abuja, the company reaffirmed its commitment to Nigeria, highlighting policy stability, deregulation, and improving supply infrastructure as crucial to sustaining operations.
Represented by Abdullahi Umar, General Manager of Retail and Cards, TotalEnergies emphasized that its adherence to world-class operational, safety, and governance standards has allowed it to remain the only multinational operator in Nigeria’s downstream space.
“Capital alone does not build a sustainable downstream market. No serious investor wants to operate in an environment where policies are inconsistent and safety standards are weak,” the company said.
TotalEnergies highlighted the risks of deregulation without discipline, noting that weak enforcement of standards in the past created uneven competition, discouraged investment, and led to market exits by several international players.
The company operates over 500 retail service stations nationwide, demonstrating that Nigeria’s downstream market remains viable for operators committed to safety, discipline, and consistent standards.
“It’s not enough to deregulate; enforcement of safety, quality, and operational standards is essential to maintain credibility and protect consumers. Healthy competition depends on a level playing field,” Umar said.
The oil giant also welcomed the gradual implementation of the Petroleum Industry Act, emphasizing that predictable regulation is key to restoring investor confidence after years of subsidy distortions, especially following Nigeria’s 2023 removal of petrol subsidies.
TotalEnergies underlined the importance of domestic refining and logistics efficiency, particularly praising the Dangote Petroleum Refinery as a potential game changer in product availability and distribution.
“This year marks 70 years of downstream operations in Nigeria. Our longevity reflects resilience and belief in the market’s potential, provided reforms are executed with discipline,” the company said.
The statement concluded by calling on policymakers and regulators to ensure that deregulation delivers long-term value, not just short-term gains, and reaffirmed TotalEnergies’ readiness to support Nigeria’s growing energy sector.
