Total Nigeria to continue investments in downstream oil, solar energy sectors

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Total Nigeria Plc has restated its commitment not to withdraw or divest its Nigeria and Africa focused businesses, but to continue to strengthen and grow its market share within the continent, The Guardian reports.

The Chairman of the company, Stanislas Mittelman, while fielding questions from journalists at the end of its 2016 yearly general meeting, in Lagos, at the weekend, said Total has no intention of withdrawing its business from Nigeria or Africa.

He noted that Africa, and France, constitute its core business activities especially the downstream business, adding that Total would continue to invest in the Nigerian and African businesses to grow its market share and boost profitability. Mittelman told the shareholders that Total would continue to invest in its lubricant facilities, as well as improve the depots and logistics.

He said the firm was also unfolding plans to consolidate its solar business to cover all the different parts of the solar business from expanding sales of its Awango solar lamps to developing solar hybrid solutions for manufacturing industries which would coexist with their existing power generation systems.