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Transcorp Power Plc has proposed the appointment of Mrs. Maryam Bala Shehu as an Independent Non-Executive Director, subject to approval by the Nigerian Electricity Regulatory Commission (NERC).
The proposed appointment was disclosed in a notice to the Nigerian Exchange Limited (NGX) and the investing public dated September 2, 2026, and signed by the Group Company Secretary, Atinuke Kolade.
According to the company, the appointment is being made in line with the provisions of the Companies and Allied Matters Act (CAMA) 2020 and the company’s Articles of Association.
What they are saying
Transcorp Power said Shehu brings nearly three decades of experience in the energy sector and extensive expertise in corporate governance, finance and board leadership.
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- “We write to notify the investing public and the Nigerian Exchange Limited that pursuant to the provisions of the Companies and Allied Matters Act 2020 and the Articles of Association of Transcorp Power Plc, the Board of Directors of the Company proposes to appoint Mrs. Maryam Bala Shehu as an Independent Non-Executive Director, subject to the approval of the Nigerian Electricity Regulatory Commission,” the company stated.
If approved, Shehu will join the board after more than two decades in senior leadership positions across TotalEnergies E&P subsidiaries in Nigeria, as well as a secondment to Nigeria LNG Limited (NLNG).
Profile of Maryam Bala Shehu
Shehu is a senior executive, governance professional and board leader with close to 30 years of experience in the energy industry.
She has served as a Board Member and Alternate Board Member of the Gas Aggregation Company of Nigeria (GACN) and has held finance, audit and governance oversight roles within the NLNG Group and Brass LNG entities.
- A Fellow of the Institute of Chartered Accountants of Nigeria (FCA), the Energy Institute, United Kingdom (FEI), and the Institute of Chartered Mediators and Conciliators (FICMC), she is also a member of the Chartered Institute of Directors (CIoD), the Nigerian Institute of Chartered Arbitrators (NICArb), the Nigerian Institute of Management (NIM), and the Nigerian Institute of Training and Development (NITAD).
She holds an MBA from IESE Business School, University of Navarra, Spain, in partnership with Lagos Business School, and a Bachelor’s degree in Accounting from Ahmadu Bello University, Zaria.
She has also completed executive and postgraduate programmes at Stanford University and Middlesex University and is currently pursuing ESG certification through Boardroom Africa.
Get up to speed
The proposed appointment comes after Transcorp Power reported resilient financial performance for the first half of 2026 despite a moderation in earnings.
- The company posted a pre-tax profit of N54.99 billion for the six months ended June 30, 2026, representing a 6.37% decline from N58.73 billion recorded in the corresponding period of 2025.
- The decline was partly driven by a weaker second-quarter performance, with Q2 pre-tax profit falling 61.11% quarter-on-quarter to N15.40 billion from N39.59 billion in the first quarter.
- It was also marginally lower than the N15.44 billion reported in the same quarter of 2025.
Despite the earnings slowdown, the company declared an interim dividend of N1.50 per ordinary share, subject to applicable withholding tax and regulatory approvals.
What you should know
Transcorp Power delivered a strong full-year 2025 performance, with revenue rising 30% to N398.27 billion.
- Gross profit increased by 14% to N162.44 billion, while profit after tax grew 14% to N91.42 billion. The company also reduced its borrowings from N37.7 billion to N30.7 billion during the year.
- The performance was supported by higher generation capacity following the return of GT20, which added 100MW to output, as well as improved operational efficiency that increased available capacity from 417MW to 550MW despite transmission constraints.
The company also benefited from disciplined financial management and continued debt reduction efforts.
