Energy solutions for low-income Nigerians is underway says Total Chairman

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By Benjamin A Ameh

The feminization programme is ongoing and more female managers are being added to the workforce.

Speaking during the company’s Annual General Meeting AGM held recently in Lagos, the Chairman, Mr Momar Nguer said that despite the challenging environment your company’s performance and operating results for the year under review was very encouraging. The company’s revenue increase from N17395 billion in 2011 to N217.84 billion in 2012 with the market share rising to 11.4% from 10.3%.

As a result of sterling financial performance, the company paid a total of N3.74billion as a cash dividend, representing N11.00 per share to shareholders for the financial year end, 2012. The payment is in consonance with our commitment, Nguer said.

Profit after tax shown an increase from N3.81billion to N4.67billion, representing 22 percent higher than the previous year while interest expenses anchored at N1.57 billion, an increase of 26 percent higher over the preceding year due to huge interest on borrowings money.

Total Societe Anonyme and Elf Aquitaine SA have a total of 209 560 000(61.72%) shareholdings in the issued and fully paid shares of 50 kobo each of the company as at December 31, 2012. This holding have generated income of N11.00 per share worth N2, 305, 160, 000.00 for the France company in  oil business from Nigeria .

2013 outlook

The chairman said we expect 2013 to be a year that will provide your company with opportunities for growth on investment and within which we shall consolidate on our past achievements.

“We also envisage that despite any foreseen challenging in the future, our company is well positioned to overcome the huddles.

We will later in the year, commence implementation of a Solar Development Project aimed at providing accessible energy solutions to low-income populations in Nigeria that based on innovative and sustainable business models.

While we are also partnering with the Federal Road Safety Corps (FRSC) in capacity building in line with the United Nations objective of reducing road accidents by 2020.”

He pointed out that our company among others runs the Skill Acquisition Programme, a sustainable youth development scheme designed to train and empower youths within communities it operates through vocations in area like welding and fabrication, fashions and designing, hairdressing, Information Technology, and furniture making at Koko and Kano respectively.


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