Transcorp Assures High Value Returns To Stakeholders

The president of Transnational Corporation of Nigeria (Transcorp) Plc, Owen Omogiafo, has restated the company’s commitment in optimising its existing assets to ensure consistent delivering of value and high returns to stakeholders.

She stated this at the company’s ‘fact behind the figures’ held in Lagos. She disclosed that Transcorp, in 2022 key priority, is to achieve set targets for the year across the various operating segments, saying ‘as a group, we will remain resolute as we execute our strategic priorities in 2022.’

Part of the set strategic targets she mentioned was to increase Transcorp Power Limited Average Available Capacity to 690 MW and target 553 MW Generating Capacity in 2022.

According to her, following the administrative handover on March 2021, we successfully increased and maintained the available plant capacity from 48MW at the time of takeover to 188MW with minimum CAPEX requirements between March 2021 to September 2022.

“However, the ongoing gas challenges impacted our generation capacity. TAPL has undertaken the following activities to improve performance going forward: Commissioning of GT20 with an additional capacity of 138MW in September. GT20 has been non-operational for 15 years; execution of a gas supply agreement with AccuGas and HHOG and discussion with other gas supply to ensure we have a steady gas supply,” she said.

She added that, with the improvement in installed capacity and gas supply, Transcorp is looking forward to finishing strong in 2022 and a solid start in 2023.

Omogiafo explained that the group would continue to surpass industry targets across key performance indicators, stressing that, the 2022 strategic target for Transcorp Hilton Abuja is pegged at 73 per cent, while that of Transcorp Hotels Calabar at 53 per cent.

She noted that, amidst the current economic situation; inflation, foreign exchange volatilities and insecurities, the management at Transcorp has ensured maximum efficiency through and consistently deliver of superior service to guests, while it maximum revenue and creatively seek ways to optimise key business segments whilst driving consistent growth in leisure & staycations.

“We continue to build stakeholder interest through product innovation, good corporate governance practices, and awards to ensure strong patronage and buy when we do go to the market,” she said.

Also, the managing director/CEO, Transcorp Power Limited, Chris Ezeafulukwe, said: “in securing gas, we enter into gas supply agreement with Nigerian Petroleum Development Company (NPDC), and also with Chevron and Seplat Energy.”

He noted that ‘we are no longer talking of sufficiency or adequacy, but talking of creating redundancy in terms of gas supply.’

Similarly, the managing director/CEO, Transcorp Hotels Plc, Dupe Olusola, noted that, the hotel has performed impressively on a quarterly basis.

She pointed out that, ‘the company Q1 and Q2 financial results exceeded our expectations. Obviously, from the onset of the COVID pandemic, we actually went from occupancy of 70 per cent right down to five per