• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Transcorp Plc to improve power generation, transform Nigeria’s economy

Abiola Odutola by Abiola Odutola
September 12, 2021
in Business News
Transcorp Plc to improve power generation, transform Nigeria’s economy
Share on FacebookShare on TwitterShare on Linkedin

Transnational Corporation (Transcorp) of Nigeria Plc, is set to improve power generation and transform the nation’s economy, as it sets a number of key targets to ensure long term shareholders’ returns and sustainability.

This was disclosed by the President/Group Chief Executive Officer, Transcorp Plc, Owen Omogiafo, during the company’s half year (HY) analyst parley held virtually in Lagos.

According to her, the targets will also ensure that its subsidiaries experience more growth in the current financial year and beyond.

RelatedStories

FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 

FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 

May 14, 2025
NGX

Market Wrap: All-Share gains 0.08%; ETERNA and TRANSCORP rally, GEREGU trades N9.4 billion in value 

March 11, 2025

She said, “We will continue to engage the Federal Government as well as the Nigerian Bulk Electricity Trading Plc (NBET) to ensure invoices are settled in time to ensure improved liquidity.

“Although COVID-19 affected global businesses last year, the positive economic turnaround in economies, especially Nigeria, had made Transcorp’s H1’21 financial performance better than it was in H1’20.

“With strategic investments in the Power, Hospitality, and Energy sectors, we recorded a profit after tax of N6.5 billion, rising by 713% up from N0.8 billion recorded in June of the previous year.

“Our revenue rose by 53%, from N35.0 billion in June 2020 to N53.3 billion in H1 2021, Gross profit grew by 60%, from N14.7 billion in June 2020 to N23.5 billion in June 2021 while Profit before tax (PBT) rose by 689% from N0.9 billion in June 2020 to N7.1 billion in June 2021.”

The Managing Director, Transcorp Power Limited, Christopher Ezeafulukwe, said the company intends to gradually sustain the increase of power generation over the next 5 years and added that it is targeting 258MegaWatts capacity by December 2021.

He said, “We will continue to engage with key stakeholders to sell our stranded capacity through the West African Power Pool (WAPP), partnerships with Discos, eligible customers, among others.

“We also want to continue to engage with NBET to ensure our invoices are settled on time to improve liquidity.”

What you should know about Transcorp

Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000.

Its portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors. Its shares are traded at 91kobo as at September 10, 2021.

Tags: TranscorpTransnational Corporation Nigeria Plc
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 
Business News

FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 

May 14, 2025
NGX
Equities

Market Wrap: All-Share gains 0.08%; ETERNA and TRANSCORP rally, GEREGU trades N9.4 billion in value 

March 11, 2025
Transcorp Power
Company Results

Transcorp posts N136 billion in full-year profits as revenue soars, proposes final dividend 

March 9, 2025
NGX
Equities

Market Wrap: All-Share Index shatters the 104,000-barrier as MTN, TRANSCORP, others surge 

January 8, 2025
Trranscorp
Corporate Updates

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

May 2, 2024
Transcorp Power
Appointments

Transcorp appoints Festus Izevbizua as Group Chief Financial Officer

March 14, 2024
Next Post
international passports, Buhari discloses what it will take to reverse US visa ban

Why FG should streamline passport application process - NIDO Americas

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Reddit launches AI advertising tools to help brands target users through conversations 
  • Abia State to launch 25-year Greater Aba master plan targeting infrastructure, economy, and flood control 
  • Israel-Iran war poses risks to Nigerian investments, interest rates – CPPE 

Follow us on social media:

Recent News

Reddit launches AI advertising tools to help brands target users through conversations 

Reddit launches AI advertising tools to help brands target users through conversations 

June 17, 2025
Ikpeazu’s administration left N4 billion in cash in Abia — Ex-commissioner counters Gov. Otti 

Abia State to launch 25-year Greater Aba master plan targeting infrastructure, economy, and flood control 

June 17, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics