Transnational Corporation Plc (Transcorp Group), a leading Nigeria listed conglomerate, is working to extract value from its energy holdings while optimizing its assets to boost power generation and hotel occupancy by year end.
Transcorp Energy, a subsidiary of the Group, owns Oil Prospecting Licence (OPL) 281, which is rich in oil and gas reserves.
“We are working to extract the value from OPL 281 and leverage it to develop Nigeria’s domestic energy value chain,” President/Group CEO of Transcorp Plc, Dr. Owen Omogiafo said.
Transcorp Group’s three major business lines are Hospitality, Power and Energy. However only two (Hospitality and Power) out of the three, generated revenue and contributed to profit as at the nine-months 2025 period.
Omogiafo said renewable energy is part of the Transcorp Group investment plan as well as an opportunity to invest in the Agro-Allied space.
“Investment in Agriculture is non-negotiable for us,” Omogiafo said, during a conference call to discuss Transcorp Groups financial statements for the 9 Months period to September 2025.
Going forward the Group plans to improve its power generation capacity into the end of the year, with a target of 750 megawatts (MW) of available capacity for Transcorp power, while peak generation is set for 590 MW, higher than the 424MW achieved as at the third quarter (Q3) of 2025.
For TransAfam Power the available capacity target is 378MW.
Transcorp Power will explore bilateral contracts with power Distribution Company’s (DisCos), to improve power supply to Nigerian end users.
Transcorp Power Plc one of the power subsidiaries of Nigeria’s listed conglomerate, Transnational Corporation Plc (Transcorp Group), grew its revenue by 38% year-on-year to ₦308.5 billion for the third quarter (Q3) period ended 30 September 2025, compared to ₦223.5 billion in Q3, 2024.
The Q3 2025 performance was driven by an increase in average power generation, reflecting Transcorp Power’s continued investment in improving generation capacity and operational excellence.
As at 9 months ended September 2025, Transcorp Power revenue was higher than N305.94 billion it earned as at Full Year (FY) 2024.
Revenue from energy delivered soared to N225.6 billion as at September 2025, up 51% from N149.3 billion as at September 2024.
This was largely driven by an increase in average power generation, reflecting Transcorp Power’s continued investment in improving generation capacity and operational excellence.
Transcorp Hotels, another subsidiary, is set to see its occupancy rate jump to 85% by year-end, according to Omogiafo.
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), delivered ₦72.31 billion in revenue in the third quarter (Q3) of 2025, a 49% increase from ₦48.49 billion in Q3 2024, while Profit Before Tax (PBT) surged 36% to ₦22.4 billion.
Transcorp Hotels room segment was the major driver of its revenue surge in the third quarter (Q3) that ended September 2025, showing its strength in the Nigerian hospitality sector.
Room revenues rose by 50.7% year on year, compared to F/B which was up 41% and shop rental up 20.3%.
The Transcorp Group as a whole, recorded 39% year-on-year increase in revenue, rising to ₦413.4 billion in the third quarter (Q3) 2025, from ₦297.7 billion in Q3 2024.
Profit Before Tax (PBT) grew by 18%, closing at ₦124.5 billion, compared to ₦105.5 billion in the same period last year. Transcorp Group has a market capitalisation of N508 billion ($338 mullion), with a One-year stock return of 11.62%.
“Hospitality will continue to grow, with people at the core and in Q4, 2025, we remain focused as the market leader. Having put Nigeria on the map with our 5,000 capacity event centre in Abuja, we will continue to drive operational effectiveness, keep eye on costs and deliver superior customer service. Transcorp Power and TransAfam Power will improve generation as we remain committed to providing power to Nigerians,” Omogiafo said.
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