Transcorp Hits ₦2.97 Trillion Market Cap, Expands Hospitality & Power Investments ⚡
Transnational Corporation Plc (Transcorp) has reached a market capitalization of ₦2.97 trillion, driven by strong performance in its hospitality, power, and energy sectors. The company also announced plans to expand its hotel business with a new Hilton hotel in Ikoyi, Lagos.
Financial Growth & Dividend Payout
• Transcorp’s market cap surged to ₦2.97 trillion, reinforcing its position as one of Nigeria’s top conglomerates.
• The company will pay a full dividend of ₦1 per share—a milestone under the leadership of Chairman Tony Elumelu.
“In the early years, Transcorp did not issue dividends. Today, we have achieved sustained growth and are committed to doing even more,” said Owen Omogiafo, President & Group CEO, in an interview with Arise News.
Hospitality Expansion – Hilton Ikoyi Coming Soon!
To meet the increasing demand for premium hospitality services in Lagos, Transcorp plans to launch a Hilton hotel in Ikoyi. This expansion strengthens the company’s footprint in Nigeria’s hospitality sector.
⚡ Power Sector Growth – Overcoming Challenges
Through its subsidiaries, Transcorp Power and TransAfam Power, the company has significantly increased its electricity generation despite challenges like gas shortages and liquidity constraints.
• Transcorp Power Ughelli:
• Acquired in 2013 – Produced 160MW
• By 2024 – Capacity increased to 625MW out of 972MW installed
• TransAfam Power:
• Acquired in 2021 – Generated 35MW
• By 2024 – Capacity surged to 305MW
Transcorp has partnered with Heirs Energies to ensure stable gas supply, improving power generation consistency.
Liquidity Issues – Govt Owes Transcorp ₦50 Billion
A major hurdle remains outstanding government payments for power already generated.
• “As of today, Transcorp Group is owed over ₦50 billion. Liquidity is crucial for expansion. We need steady, timely payments to sustain growth,” Omogiafo stated.
Renewable Energy & Future Investments
To bridge Nigeria’s energy gap, Transcorp is investing in:
✅ Gas production
✅ Power generation
✅ Renewable energy solutions
✅ Power distribution (via Abuja Electricity Distribution Company)
International investors are eyeing partnerships with Transcorp in renewable energy, seeing Nigeria as a prime market.
Profit Soars – 189% Growth!
• Transcorp reported a profit after tax of ₦94.08 billion for 2024.
• This marks a 189% increase from ₦32.48 billion in 2023.
What’s Next for Transcorp?
With aggressive expansion in hospitality, power generation, and renewable energy, Transcorp is not just growing its business—it’s shaping Nigeria’s economic future.
What are your thoughts on Transcorp’s expansion? Will the new Hilton Ikoyi boost Lagos’ hospitality sector? Let’s discuss!
Transnational Corporation Plc (Transcorp) has reached a market capitalization of ₦2.97 trillion, driven by strong performance in its hospitality, power, and energy sectors. The company also announced plans to expand its hotel business with a new Hilton hotel in Ikoyi, Lagos.
Financial Growth & Dividend Payout
• Transcorp’s market cap surged to ₦2.97 trillion, reinforcing its position as one of Nigeria’s top conglomerates.
• The company will pay a full dividend of ₦1 per share—a milestone under the leadership of Chairman Tony Elumelu.
“In the early years, Transcorp did not issue dividends. Today, we have achieved sustained growth and are committed to doing even more,” said Owen Omogiafo, President & Group CEO, in an interview with Arise News.
Hospitality Expansion – Hilton Ikoyi Coming Soon!
To meet the increasing demand for premium hospitality services in Lagos, Transcorp plans to launch a Hilton hotel in Ikoyi. This expansion strengthens the company’s footprint in Nigeria’s hospitality sector.
⚡ Power Sector Growth – Overcoming Challenges
Through its subsidiaries, Transcorp Power and TransAfam Power, the company has significantly increased its electricity generation despite challenges like gas shortages and liquidity constraints.
• Transcorp Power Ughelli:
• Acquired in 2013 – Produced 160MW
• By 2024 – Capacity increased to 625MW out of 972MW installed
• TransAfam Power:
• Acquired in 2021 – Generated 35MW
• By 2024 – Capacity surged to 305MW
Transcorp has partnered with Heirs Energies to ensure stable gas supply, improving power generation consistency.
Liquidity Issues – Govt Owes Transcorp ₦50 Billion
A major hurdle remains outstanding government payments for power already generated.
• “As of today, Transcorp Group is owed over ₦50 billion. Liquidity is crucial for expansion. We need steady, timely payments to sustain growth,” Omogiafo stated.
Renewable Energy & Future Investments
To bridge Nigeria’s energy gap, Transcorp is investing in:
✅ Gas production
✅ Power generation
✅ Renewable energy solutions
✅ Power distribution (via Abuja Electricity Distribution Company)
International investors are eyeing partnerships with Transcorp in renewable energy, seeing Nigeria as a prime market.
Profit Soars – 189% Growth!
• Transcorp reported a profit after tax of ₦94.08 billion for 2024.
• This marks a 189% increase from ₦32.48 billion in 2023.
What’s Next for Transcorp?
With aggressive expansion in hospitality, power generation, and renewable energy, Transcorp is not just growing its business—it’s shaping Nigeria’s economic future.
What are your thoughts on Transcorp’s expansion? Will the new Hilton Ikoyi boost Lagos’ hospitality sector? Let’s discuss!