• 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 Business

Transcorp-led investors acquire 60% stake in Abuja DisCo 

Nathanael Disu by Nathanael Disu
August 17, 2023
in Business, Business News, Company News, Corporate deals
Transcorp-led investors acquire 60% stake in Abuja DisCo 
Share on FacebookShare on TwitterShare on Linkedin

A Group of Investors led by Transcorp Power Limited has acquired a 60 percent stake in Abuja Electricity Distribution Company (AEDC). 

According to reports, Christopher Ezeafulukwe, the current MD/CEO of Transcorp Power Limited, will now take on the role of Managing Director/Chief Executive Officer (MD/CEO) at AEDC.  

Ezeafulukwe’s appointment is expected to be instrumental in revitalizing AEDC, which is the primary power provider for Federal Capital Territory – Abuja.  

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

Here’s an excerpt from the statement: 

  • “Prior to his appointment as the MD/CEO of AEDC, Ezeafulukwe was the MD/CEO of Transcorp Power Ltd, Ughelli, a 972-MW thermal plant.” 
  • “Under his leadership, Transcorp Power Ltd has consistently led the Nigerian  power sector, being the first successor power company from the 2013 power privatization program, to be discharged from post-privatization monitoring by the National Council on Privatization, having surpassed the expectations of the Council. 
  • “The Ughelli Power plant, which Transcorp Group acquired during the privatization of the power sector in 2013, demonstrates the Group’s transformative prowess. 
  • “The plant’s available capacity, which stood at 160MW on acquisition, increased by 227% to 680.83MW in 4 years, surpassing the Bureau of Public Enterprise’s (BPE) five-year target of 670MW.” 

Peter Ikenga, CEO of Transcorp Energy, is expected to succeed Ezeafulukwe as MD of Transcorp Power. 

Back Story  

In December 2021, United Bank of Africa (UBA) took over AEDC over the inability of its major stakeholder, Kann Consortium, to service the $122 million debt owed to the bank. 

Kann Consortium had secured a loan from UBA to acquire AEDC in 2013, making it hold a 60 percent stake in the DisCo. 

However, in April 2023, the bank said it would sell AEDC to recover the $122 million debt. 

In May 2023, the national council on privatization approved the Transcorp-led consortium as the preferred bidder for AEDC. 


Follow us for Breaking News and Market Intelligence.
Tags: Transcorp
Nathanael Disu

Nathanael Disu

Nathanael Disu is a Financial Analyst at Nairametrics. He also runs a Financial Intelligence Bootcamp which helps individuals get better understanding of their Money.

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
Banking Fraud

Nigerian banks, Cybersafe unveil new strategy to curb cyber frauds  

Leave a Reply Cancel reply

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

first bank








DUNS

Recent News

  • Three cement giants and FIRSTHOLDCO spark rally as ASI shatters 130,000 on the Nigerian stock market 
  • FG to host International Air Show in Abuja in December 
  • Use of jamming systems can address challenges posed by insurgents in Nigeria – Bright Echefu

Follow us on social media:

Recent News

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

Three cement giants and FIRSTHOLDCO spark rally as ASI shatters 130,000 on the Nigerian stock market 

July 17, 2025
Festus Keyamo,

FG to host International Air Show in Abuja in December 

July 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