TotalEnergies SE has announced a new dividend policy targeting an annual growth rate of over 5% through 2030, supported by projected increases in energy production and robust free cash flow. The board also committed to returning at least 40% of cash flow to shareholders while maintaining a gearing ratio below 10%. Additionally, the firm authorized up to $2.5 billion in share buybacks for the fourth quarter of 2026. Locally, TotalEnergies Marketing Nigeria Plc reported a return to profitability in the first half of 2026, posting a profit after tax of N4.95 billion. Despite this, the local entity’s shares recently faced market pressure, declining 10% in the last trading session.

TotalEnergies and its local partner, AMNI, have reached a final investment decision to develop the offshore Ima gas field, with production scheduled to commence in 2028. The project, located in shallow waters near Bonny Island, is expected to reach a production capacity of 350 million standard cubic feet of gas per day. This output will support the Nigeria LNG Train 7 expansion, contributing roughly one-third of the required gas supply for the project. The infrastructure will be powered by electricity from the shore to minimize emissions, and the development is set to prioritize local content through the engagement of Nigerian contractors.

Nigerian businesses are facing mounting operational costs as petrol prices approach N1,500 per litre, driven by rising global crude oil benchmarks. The surge, which follows a recent ex-depot price adjustment by Dangote Petroleum Refinery to N1,350 per litre, is forcing firms to further pass costs to consumers or aggressively seek alternative power solutions. In response to the persistent grid failure and reliance on expensive fossil fuels, solar provider Sun King has launched new productive-use equipment, including inverters and freezers, specifically targeting MSMEs with consumer financing options to mitigate energy expenditure. Data from the Manufacturers Association of Nigeria indicates that manufacturers spent N1.34 trillion on alternative energy in 2025, a figure expected to rise as energy remains the primary operating expense for most sectors.

Listed Nigerian oil and gas companies reported a combined revenue of over N7 trillion in H1 2026, a 66 percent increase year-on-year. However, an analysis of the sector reveals a divergence in performance, separating firms into value creators and those focused on leveraged growth.

While Aradel Holdings has shown explosive revenue growth, it faces challenges related to rising finance costs and significant liabilities. Seplat Energy maintains high operational efficiency and profitability but currently grapples with cash flow management. Conversely, Oando has achieved significant scale, yet its balance sheet remains under pressure with negative shareholders’ equity. Meanwhile, downstream players like Eterna show disciplined balance sheet management, prioritizing resilience over rapid expansion. The findings suggest that future success in the sector will be defined by cash conversion, capital discipline, and balance-sheet strength rather than mere revenue growth.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.