Transcorp Power Plc, the electricity generation subsidiary of the Tony Elumelu-led Transcorp Group, reported a 30% surge in revenue for the 2025 fiscal year, fueled by the return of a critical gas turbine to the national grid.
The firm saw its top line climb to ₦398.27 billion, allowing the board to reward shareholders with a 10% increase in total dividends.
Despite persistent transmission bottlenecks across the Nigerian power sector, the company managed to expand its average available capacity to 550MW, demonstrating the resilience of its diversified generation strategy.
Operational Alpha: The GT20 Effect
The group’s financial momentum was largely underpinned by successful technical interventions:
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Capacity Expansion: The return of GT20 in January 2025 added 100MW to the national grid, driving average available capacity up from 417MW to 550MW.
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Resilient Output: While the Transmission Company of Nigeria (TCN) faced network challenges, Transcorp Power’s improved generation output ensured a 14% rise in net profit to ₦91.42 billion.
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Efficiency Gains: Gross profit hit ₦162.44 billion, reflecting the company’s ability to manage fuel and maintenance costs effectively amidst inflationary pressures.
De-Leveraging: Strengthening the Balance Sheet
A key highlight of the 2025 results was the company’s disciplined approach to debt management:
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Debt Paydown: Transcorp Power reduced its total borrowings by ₦7 billion, ending the year with ₦30.7 billion in debt.
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Equity Growth: Total equity surged 44% to ₦183.4 billion, while total assets expanded to ₦563.48 billion, providing a robust buffer for future capital projects.
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Dividend Payout: Following the strong performance, the board proposed a final dividend of ₦4.00 per share, bringing the total 2025 payout to ₦5.50, a 10% year-on-year increase.
Strategic Outlook: Evacuation and Grid Reliability
CEO Peter Ikenga emphasized that the firm’s future growth remains tied to improving Nigeria’s fragile transmission infrastructure:
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Stakeholder Engagement: The company is actively working with the Transmission Company of Nigeria (TCN) to strengthen evacuation lines from the Ughelli plant.
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Sustainable Growth: Chairman Emmanuel Nnorom reaffirmed the group’s focus on “operational excellence,” positioning the company as a cornerstone of Nigeria’s energy transition and socioeconomic development.
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