.As govt begin settlement of legacy debts

The Transcorp group has paid N20,323,995.248 billion at N2 per share to its shareholders, the chairman of the conglomerate, Tony Elumelu, had disclosed.

Speaking in Abuja at the 2025 annual report and financial statement of the group, Elumelu said the conglomerate’s strong 2025 financial performance reflects its commitment to transforming lives, deepening investment in critical sectors and delivering higher returns to shareholders.

He attributed the group’s performance to the commitment of management, the board and shareholders, noting that profit rose by over 30 per cent during the financial year.

According to him, shareholders who had previously complained about ‘kobo kobo’ dividends are now seeing significant value creation as the company pushes toward stronger earnings and sustainable growth.

Elumelu described Transcorp as an iconic Nigerian institution determined to expand its impact across electricity, hospitality, oil and gas, and renewable energy.

“We want to continue to do more, to be more positive, to improve lives and transform Nigeria,” he said.
He stressed that investment in electricity remains central to economic transformation, arguing that improved access to power would raise living standards, drive industrial growth and create jobs for millions of young Nigerians.

The African business mogul added that the group’s hospitality investments are aimed at attracting foreign and domestic investors into Nigeria by providing world-class facilities and boosting confidence in the economy.

“Our investment in power generation, power distribution, hospitality, oil and gas and renewable energy is all geared towards improving lives and making Nigeria a better place for everyone,” he said.

Also speaking, Group Chief Executive Officer of Transcorp Group, Owen Omogiafo, acknowledged persistent challenges in the power sector, including gas supply constraints and transmission infrastructure deficits, but said the company remained focused on turning challenges into opportunities.

She noted that, despite operational difficulties in the sector, Transcorp delivered strong results through disciplined execution and stakeholder engagement.
“We are happy in Transcorp Group to be leading the charge on dealing with the energy challenges and making sure that we provide much-needed energy for our people,” she said.

Omogiafo also highlighted the group’s hospitality business, noting that the iconic Transcorp Hilton Abuja would mark its 40th anniversary next year.

She described the newly developed Transcorp Event Centre as evidence that significant investment opportunities still exist in Nigeria despite prevailing economic headwinds.

While stressing that Nigeria is open for business, she added that local investors must take the lead in developing the country and the African continent.

On the long-standing debt owed to generation companies in the power sector, Omogiafo commended the administration of Bola Tinubu for what she described as the most significant progress yet in addressing historical liabilities.

According to her, both Transcorp Power and TransAfam have signed settlement reconciliation agreements with the Federal Government, while payment implementation is expected to commence within the year.

She also praised recent leadership changes in the power sector, including the appointment of a special adviser on power, saying the reforms have improved investor confidence and signalled stronger government focus on the industry.

The Transcorp GCEO further disclosed that shareholders’ funds increased by 47 per cent to over N350 billion, underscoring what she described as the company’s commitment to sustainable value creation.
Looking ahead, Elumelu assured investors that the company would sustain its growth trajectory, recalling that Transcorp shares once traded below one naira and dividends stood at just a few kobo.

“Today we are pushing towards N50 per share, paying dividends in naira and creating sustainable value,” he said.

Average available capacity at Transcorp Power increased from 477MW in 2024 to 550MW in 2025, a 15% increase, with a peak capacity of 625MW. Average generation rose from 332MW to 391MW, with a peak generation of 553MW representing 88.5% utilization.

Similarly, Transafam Power Limited increased its average available capacity from 250 MW to 348 MW, a 39% increase, while average generation improved significantly to 102 MW in 2025, up from 53 MW in 2024.

Elumelu highlighted that the milestones were achieved notwithstanding severe gas supply constraints and grid evacuation challenges.

Transcorp Hotels Plc delivered a historic full-year revenue of about N97 billion while advancing plans for the development of our 315-key, five-star hotel in Ikoyi property, incorporating a relaxation and lifestyle centre.

Looking ahead to 2026, Transcorp Group said it will continue to prioritise strategic initiatives that enhance capacity, efficiency, and reliability across the value chain.