Transcorp CEO says government starts repaying power sector debts
Transnational Corporation Plc’s CEO, Owen Omogiafo, announced that the Federal Government has started repaying longstanding debts owed to power generation companies. She described this as a major step in addressing liquidity issues in Nigeria’s electricity sector. Omogiafo praised the government’s efforts and highlighted the positive impact on Transcorp’s financial performance. The company also reported strong results in both its power and hospitality businesses.
TLDR
- Owen Omogiafo confirmed that settlement contracts have been signed and payments have begun for Transafam, with Transcorp Power to follow this year.
- The government’s intervention targets legacy debts of about N3.3tn owed to generation companies and gas suppliers.
- Transcorp Group’s revenue rose by 33 per cent to N544bn in the 2025 financial year, with profit after tax up 44 per cent to N135.9bn.
- The Board proposed a total dividend of N2.00 per share for the 2025 financial year, amounting to over N20.32bn.
- Tony Elumelu credited the improved performance to better operating conditions and effective management, noting shareholders now receive higher dividends.
