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Mon. Apr 28th, 2025
Trending News: Presidency: Democracy Not Under Threat, Rejects Claims of One-party State NACCIMA, OPS Worry Over W’Bank’s 56% Poverty Rise Projection for 2027Sanwo-Olu to Obi: You Fuelled Nigeria’s Poverty, Lack Moral Right to Criticise FGSenate Advocates Urgent Budgetary Reforms to Consolidate Nigeria’s Economy UK Envoy Hails Partnership with Nigeria over $150m Charterhouse Lagos SchoolBankole Benard: Stringent UAE Visa Policy Targets Prevention of Suspect Nigerians from Entering the EmiratesTinubu Wife’s Initiative Empowers 500 Edo Women in Three Senatorial DistrictsTrouble Brews Over Planned Boycott of May Day Parade By NLC NAPTIP Receives Over 200 Victims of Human Trafficking from GhanaAlawuba: UBA to Operate in All African Nations, Expand Footprint to 100 Countries GloballySupreme Court Overturns N22trn Judgment Against Union BankAl Amin Mota Pledges Automotive Innovation, Youth EmpowermentStella Okotete Hails Oborevwori’s APC Defection Oborevwori Orders Prompt Revocation of DELSU’s Senate Building Contract Army: Terrorists, Criminals Using Military Uniforms to Commit AtrocitiesNigeria Moves to Unlock AfCFTA Potential, Launches Maiden Hackathon with N20m Grand PrizeNALDA Floats Poultry Initiative to Boost Economic Empowerment for NigeriansOtti Creates Enabling Environment to Enhance Participation of Diasporas in Abia Dev’t Anambra Takes Anti-drug Campaign to Cattle MarketObi: Nigerian Leaders Lack Capacity, Character, Calls for Competent Leadership for Nation’s FutureGov Lawal Hosts NSCDC Officers of Zamfara OriginKaduna Gov Says Tinubu’s Appointment of DSS Boss Yielding Great ResultsIn Defence of Truth: A Rebuttal to Kperogi’s Fiction on SDPEXCLUSIVE: Leaked Document Exposes Tinubu’s Plan To Hand Over State House Clinic to Private Managers As Education Minister Oversees ProcessTrump, Macron, Starmer, Other World Leaders Bid Final Farewell to Pope FrancisEdun, Cardoso: Tinubu’s Reforms Have Restored Investors’ Confidence, Stabilised FX MarketIn Show of Public Confidence in Banking System, Customers’ Deposits in 10 Banks Hit N140.97tn in 2024APC Will Soon Implode, Says Wabara2027: Rivers PDP National Assembly Caucus Declares Support for Tinubu’s Re-election2027: Deputy Speaker Mobilises Support for Tinubu in South-east, Says President’s Mandate Deserves RenewalFamily Unveils Funeral Programme for Afenifere Leader, Ayo AdebanjoEmir Seeks Military Intervention as Boko Haram Kills 12 in Borno VillageWike Orders Crackdown on Quack Hospitals, Doctors in FCTDefection: Osun PDP Has Not Lost Any Genuine Supporter, Says AdelekeFG to Reopen Enugu Airport for Flight Operations MondayAttempts at Assassination of African Leaders for Opposing Imperialism: The Case of Ibrahim TraoréEXCLUSIVE: Deputy Inspector-General Of Police Ari Muhammed Joins APC Weeks After Retirement, Seeks To Contest For SenateAlain St. Ange Honoured at House of Lords as He Champions Seychelles’ Future Musawa Inaugurates Presidential Suite at Ikogosi Warm Springs Resort and Conference CentreDeputy Speaker Kalu Says Tinubu Deserves Second Term, Urges Igbo to Support HimSenate Calls for Urgent Budgetary Reforms, Hails CBN Leadership’s Global Recognition Bauchi Group Expresses Support for Foreign Affairs Minister Tuggar Pope Francis’ Funeral in PhotographsWorld Bids Pope Francis FarewellSalaries: FCT Senator Laments Teachers’ Protest in AbujaNigerian Police Engage In Cover-Up As Officers Shoot Dead 300-Level University Of Port-Harcourt Student, Family Seeks JusticeZelensky, Trump Meet at Pope Francis’ FuneralGeneral Laka: Digital Domain Opens a Gateway for Terrorists to Exploit Cutting-edge TechnologyLagos Commissioner Declares State Has 1.3% Malaria PrevalenceAt World Bank/IMF Spring Meeting, Shettima Makes Case for Nigeria’s HCD 2.0 AgendaNNPC, Seplat Tackle Eye Diseases in Imo Communities, Organise ‘Eye Can See Initiative’Sokoto Records High Turnout as Meningitis Vaccination Gain Momentum Crude-for-loan Deal: Group Rallies Support for Mele KyariNigerian Breweries Inaugurates State-of-the-Art Skills Acquisition Centre in KadunaNAF Flags Off 61st Anniversary Celebration With Open DayFoundation Offers Free Medical Treatment to Edo CommunityISWAP, Boko Haram Terrorists Regrouping In Lake Chad, Borno Governor Zulum Raises Fresh AlarmDirector-General Of NAPTIP Orders Probe Of Sexual Abuse Allegations Against MFM General Overseer, OlukoyaCardoso, Edun Reaffirm Nigeria’s Commitment to Growth, Stability, ReformUK Envoy Hails Partnership with Nigeria over $150m Charterhouse Lagos SchoolWorld Leaders Gather in Rome for Pope Francis Funeral TodayOkonjo-Iweala Urges US to Reconsider Reciprocal Tariffs on Poor African NationsConsumer Protection Tribunal Upholds $220m Fine against Meta, WhatsAppWike: Only Sincerity of Purpose Can Restore Peace in RiversAtiku: Defections, Realignments Part of Democracy, I Bear No Grudges against AnyoneElumelu: UBA to Meet N500bn Capital Threshold By Q3 2025Troops Dismantle 35 Illegal Refining Sites, Apprehend 99 Felons in One WeekNana Akufo-Addo, Atedo, Others Pay Tributes to Mathias Anohu in AbujaChris Akoh Wins Best Actor in New YorkEfe Irele Leads Cast of New DramaMACBAN Lauds Tinubu for Appointing DSS DG, Creating Livestock MinistryKwara’s Auditor General Parleys Key Govt Offices to Strengthen Accountability, Transparency, PrudenceNAF Flags off 61st Anniversary Celebration With Open DayMalaria is Public Health Challenge, National Emergency in Nigeria, Says First LadyEmergency Rule: Former Deputy Speaker Sues Tinubu, Others, Wants Allocations to Ibas Stopped2027: KRM Out to Rescue Kwara From the Woods, Say APC Chieftains  FG To Launch National Agribusiness Policy Mechanism To Stabilise PricesTinubu’s Appointments Have Rekindled Sense of Belonging, Equity, Justice, Say Kwara South LeadersOkonjo-Iweala, Adesina to Grace African Raw Materials Summit in AbujaNELFUND: Student Loan Applications Hit 500,000 in One YearExport of Raw Materials Without Value Addition Must Stop, Says AkpabioPolytechnic Secures N750m Tetfund InterventionsNaira Abuse: Court Remands Hip-Hop Star Terry G Pending Bail DecisionSDP Disowns Alliance for Transformation MandateAkpabio Leads 5-man Nigerian Delegation To Pope Francis’ Burial Saturday Rivers Women Appeal to Tinubu to Lift Emergency Rule, Recall FubaraBREAKING: Promotion Controversy Rocks Nigerian Police Force As Officers Lament Juniors Get Elevated Over SeniorsNedcomoaks Group to Hold Estate Summit for Professionals, Investors, OthersOkunade and His Continuous Efforts at Combatting Border, Immigration CrimesOoni Harps on Monarchs, Host Communities Synergy for Economic RevitalisationYouths Urged to Shun Inordinate Quest for Wealth, Imbibe Virtues of Hard WorkCounter-Terrorism Centre Applauds Gov Lawal’s Fight against Banditry in ZamfaraAbure Says Supreme Court Judgment Validates His Leadership of Labour PartyPernod  Ricard Partners FRSC, NDLEA, Others on Road SafetyPDP Expresses Concern over Security Situation in Kwara CommunitiesNiger Gov’ Order on Miscreants Pays Off As Police Arrest 18 Area BoysAdebayo: SDP’s Ideology is to Improve National Security, Enhance Nigerians’ WelfareNGX Market Cap Up by N11.28bn as Legend Internet Lists Shares AMMC Seals Abuja Events Centre over Air PollutionFIN Honours Sanwo-Olu, Okpebholo, Oba of Benin in Dubai
Mon. Apr 28th, 2025

Transcorp Power Grows Profit by 50% to N43.3bn in Q1 2025

Kayode Tokede

Transcorp Power Plc has announced profit before tax of N43.3 billion in first quarter ended March 31, 2025, about 50 per cent increase over N28.8 billion declared in the first quarter of 2024. 

 One of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc on the Nigerian Exchange Limited declared an impressive growth in revenue, about N105.4 billion in Q1 2025 from N67.9 billion in Q1 2024 (grew by 55 per cent). 

This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country.  

This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence.

MD/CEO of Transcorp Power, Peter Ikenga, in a statement said,”We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency.

“Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.

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