TotalEnergies announces new investment focus in Nigeria

TotalEnergies (formerly Total) has announced a new investment focus in Nigeria, tending more toward renewable sources of energy as the company moves to become one of the world’s top five in renewables by 2030.

The French oil and gas giant has concluded plans to invest about $60 billion in renewable projects to be financed over a period of 10 years with Nigeria set to receive part of the funds to accelerate the energy transition.

According to the News Agency of Nigeria (NAN), this disclosure was made by the Executive General Manager, Total Country Services, Mrs Bunmi Popoola-Mordi, on Wednesday at a virtual news briefing.

Popoola-Mordi said Total had on May 28, 2021, transformed into TotalEnergies as an active player in the global energy transition and is committed to combating climate change adding that the oil firm has a target of reducing its carbon emission by 40% in 2030 with the goal of getting to zero carbon emission by 2050.

Popoola-Mordi said TotalEnergies would continue to invest in oil, natural gas, electricity, hydrogen, biomass, wind and solar.

She noted that as part of the transition for the oil firm, TotalEnergies would soon commence the rebranding of all its filling stations across the country to reflect the new name, logo and direction.

She said, “Energy is life. We all need it and it’s a source of progress to contribute to the sustainable development of the planet facing climate challenges. We are moving forward together toward new energies. Energy is reinventing itself, and this energy journey is ours.

“Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies. This new name and new visual identity embody the course TotalEnergies has resolutely charted for itself.

TotalEnergies is a broad energy company committed to producing and providing energies that are ever more affordable, reliable and clean.’’

Also, the Country Communications Manager, Total Companies in Nigeria, Mr Charles Ebereonwu, said Total was operating in about 130 countries and had been in operations in Nigeria for over 60 years.

Ebereonwu noted that Nigeria was key to TotalEnergies transition due to its abundant gas resources and sunlight for solar projects.

He said 77 TotalEnergies filling stations had been solarised already, adding that the company would also key into the Federal Government’s Decade of Gas Development initiative to further drive the objective.

Credit: NAN

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