Transcorp Power Grows Revenue By 30% To N398.27bn

Transcorp Power Plc, a key electricity-generating arm of Transnational Corporation Plc (Transcorp Group), Nigeria’s leading listed conglomerate, has reported revenue of N398.27 billion for the full year ended December 31, 2025. This represents a 30 per cent increase from N305.94 billion in fiscal year 2024.

The audited results, released on Thursday, highlighted Transcorp Power’s operational performance in a sector plagued by grid instability, transmission bottlenecks, and fluctuating gas supplies.

Gross profit climbed 14 per cent to N162.44 billion from N142.21 billion the prior year, while profit after tax rose similarly to N91.42 billion, up from N80.01 billion.

Earnings per share strengthened to N12.19 from N10.67, reflecting solid shareholder value.

The balance sheet showed that total assets expanded 42 per cent to N563.48 billion from N396.78 billion, and total equity grew 44 per cent to N183.40 billion compared to N126.63 billion in 2024.

Notably, the company slashed total borrowings (short- and medium-term) by over N7 billion, from N37.7 billion to N30.7 billion, signalling prudent leverage management.

Transcorp Power stated that its FY 2025 success stemmed from targeted operational enhancements, such as the reactivation of the GT20 turbine on January 3, 2025, which injected an additional 100MW into the national grid.

This, it said, boosted average available capacity from 417MW to 550MW and lifted overall generation output, even as grid and transmission issues posed challenges.

“We increased our average available capacity from 417MW to 550MW and improved average generation output despite grid and transmission line-related issues,” said the MD/CEO Peter Ikenga. “Notwithstanding the network transmission line issues, our FY 2025 performance remained strong and reflects our steadfast commitment to operational excellence and sustainable growth.”

Ikenga emphasised collaboration with stakeholders, such as the Transmission Company of Nigeria (TCN), to strengthen evacuation infrastructure.

“Our confidence in the future trajectory of Transcorp Power Plc to deliver exceptional value to our shareholders remains unwavering. We will continue to work with relevant stakeholders to strengthen the transmission lines and improve evacuation from our plant in 2026 and beyond.”

Chairman of the Board, Emmanuel Nnorom, hailed the results as a testament to strategic focus. “We remain dedicated to improving lives and transforming Africa, ensuring operational excellence and making strategic investments that deliver sustainable, long-term value to our shareholders, while also powering Nigeria’s socioeconomic development,” Nnorom stated.

Reflecting this confidence, the board proposed a full-year dividend of N5.50k per share—a 10 per cent increase from the prior year. This includes an interim payout of N1.50k disbursed on August 18, 2025, and a final dividend of N4.00k.

Transcorp Power, operator of the 972MW Ughelli Power Plant in Delta State, continues to anchor Transcorp Group’s energy portfolio alongside investments in hospitality and other sectors.

The company pledges ongoing support for Nigeria’s energy transition, grid reliability, and broader economic growth through reliable electricity access.

As Nigeria grapples with demand exceeding 25,000MW against a supply shortfall, Transcorp Power’s performance offers a bright spot, blending efficiency gains with fiscal prudence to navigate sector headwinds.