Transnational Corporation Plc has moved four of its eight turbines from Afam in Rivers State to Delta State to increase power generation after challenges with gas supply in the Afam area.
The company’s President and Group Chief Executive Officer, Owen Omogiafo, made this known during an investors’ call held on November 4, 2025 to review the company’s third-quarter performance.
Omogiafo explained that the decision to relocate the turbines was made to ensure that more Nigerians have access to electricity despite the gas shortage in Rivers State. She said the Delta region has a more reliable gas supply, which makes it suitable for improving power output. According to her, Heirs Energies has also revived a gas well that now supplies gas to both the remaining Afam turbines and the Ughelli plant.
She stated that Transcorp Power and Transafam Power are working towards increasing generation capacity before the end of the year. Transcorp Power aims to reach 750 megawatts of available capacity, averaging 528 megawatts in generation. For Transafam Power, the company plans to achieve an available capacity of 378 megawatts with a target of 294 megawatts in operation by year-end.
The company said all four relocated turbines in Ughelli have been connected to the national grid, with one already in use and three set to begin full operation soon. It added that both power firms will continue exploring agreements with distribution companies and eligible customers to ensure steady power delivery to consumers.
Meanwhile, the Managing Director of Transcorp Hotels Plc, Uzo Oshogwe, confirmed that the Transcorp Ikoyi Hotel project is advancing as planned. The 24-floor building will feature 315 rooms, a large ballroom, and modern facilities. She noted that construction approval has been secured, and the selection of top contractors for civil and engineering works is in its final stage.
According to the company’s financial report, Transcorp’s power sector recorded ₦341.1 billion in revenue and ₦93.2 billion profit before tax in the third quarter of 2025, surpassing the figures from the entire 2024 financial year. The hospitality arm also performed strongly, earning ₦72.3 billion in revenue and ₦22.4 billion profit before tax during the same period.
The Group Chief Finance Officer, Festus Izevbizua, said that the company’s impairment provision followed international reporting standards and would be reversed once outstanding payments from government-backed electricity traders were received. He also noted that the company is assessing the impact of the new tax regime set to begin in 2026.
The Managing Director of Transcorp Power, Peter Ikenga, added that the company’s integrated strategy aims to ensure affordable electricity supply while maintaining efficient operations. The Managing Director of Transafam Power, Vincent Ozoude, said the company currently generates 348 megawatts and is working to reach 378 megawatts before the end of the year. Both companies pledged to continue partnering with government agencies to support the growth of Nigeria’s power sector.
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