Managing Director/Chief Executive Officer of Transcorp Power Plc, Engr. Peter Ikenga, has stated Nigeria’s energy sector wants self-sustaining funding throughout its worth chain to enhance energy provide, stating that the facility producing firm is dedicated to Nigeria’s energy sector for the long run.
Ikenga spoke lately in Lagos as a panelist on the third version of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact.”
He stated Transcorp Power, one of many two energy portfolio subsidiaries of Transcorp Group, will proceed to maintain technology, spend money on its plant and ship worth to shareholders regardless of a difficult working setting.
“Transcorp Power is a long-term player, not a short-term player,” Ikenga stated. “This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress.”
According to him, the corporate’s give attention to effectivity and funding underpins its contribution to the nation’s energy provide. “We run a highly efficient operation, and we have made significant investments to increase our available capacity, because we understand the value power has for development, progress and prosperity in Nigeria and West Africa.”
Ikenga famous that since buying the Ughelli Power Plant in Delta State in 2013, Transcorp Power has grown accessible capability 4 folds.
Transcorp Power grew to become the primary privatised energy technology firm to obtain a post-privatisation discharge certificates for fulfilling all its privatisation obligations. He stated this self-discipline is mirrored within the firm’s unaudited outcomes for the 9 months ended 30 September 2026.
Transcorp Power recorded a revenue earlier than tax of ₦83.1 billion, whereas its profit-before-tax margin improved to 31.2% from 29.6% a yr earlier. Total property grew 11.7% to ₦629.5 billion, and shareholders’ funds rose 8.9% to ₦199.8 billion. Cash and money equivalents elevated to ₦10.3 billion, supported by improved collections. Speaking on the corporate’s function in grid stability, Transcorp Power MD/CEO stated as a black-start supplier, Transcorp Power can restart with out exterior energy from the grid. Following a disturbance, “this allows us to support restoration and help bring electricity back to homes, businesses and industries quickly.”
On the way forward for the sector, Ikenga famous that Nigeria has an put in producing capability of about 13,000 megawatts and an estimated potential of fifty gigawatts, presenting vital room for development.
He clarified that the potential requires each a part of the worth chain to work collectively. “Everything in the value chain has to work,” he stated.
He referred to as for sustained funding and collaboration amongst federal and state governments, the personal sector and regulators, alongside elevated personal sector participation, to construct a self-sustaining sector. He added that energy generated at scale stays probably the most cost-effective path to industrialisation.
“Generating power at scale is beneficial because it is cheap. To industrialise, the grid is a proven system anywhere in the world,” he stated.
He additionally urged stakeholders to hitch efforts to guard energy infrastructure from vandalism. “We have to protect and secure what we have today in order to guaranty our future,” he stated.
Expressing confidence within the sector’s prospects, Ikenga stated: “The future is super great.”
He assured stakeholders that Transcorp Power will proceed to spend money on its operations, maintain technology and ship superior worth to its shareholders and to Nigeria.
