Transcorp Power Plc has declared a total dividend of N41.25 billion for the 2025 financial year, following improved earnings performance driven by higher generation output and operational efficiency gains.
The Chairman of the Board of Directors, Emmanuel Nnorom, disclosed this at the company’s 13th Annual General Meeting held in Abuja on Monday, noting that the payout reflects the firm’s commitment to delivering value to shareholders.
He said, “The Board of Directors have recommended a full dividend of N5.50 per share comprising the interim dividend of N1.50k and a final dividend of N4.00 per share for approval at the 13th Annual General Meeting, being a total dividend of N41,250,000,000.”
Nnorom stated that the company delivered a resilient performance in 2025 despite macroeconomic and sectoral pressures, underpinned by stronger generation capacity and disciplined cost management.
According to him, revenue rose from N305.9bn in 2024 to N398bn in 2025, while profit after tax increased by 14.25 per cent to N91.4bn from N80bn recorded in the previous year.
He said the performance was achieved amid elevated inflation, tight monetary conditions, and rising operating costs, particularly in gas transportation, maintenance, and logistics.
“Despite these global challenges, Transcorp Power demonstrated resilience through proactive cost management and strategic sourcing, ensuring uninterrupted operations and sustained value creation for our stakeholders,” Nnorom added.
The chairman also highlighted ongoing reforms in the Nigerian Electricity Supply Industry, noting that the Federal Government’s N4tn Presidential Power Sector Debt Reduction Plan is expected to improve liquidity and restore investor confidence in the sector.
He described the initiative as a “credible, structured solution to longstanding cashflow bottlenecks” that had constrained generation companies and weakened market performance.
Nnorom added that the company remained well-positioned to sustain growth and deliver consistent returns.
In his remarks, the Managing Director/Chief Executive Officer, Peter Ikenga, said the company consolidated its growth trajectory in 2025 despite operational headwinds, including grid constraints and infrastructure challenges.
He said, “We sustained our strong growth trajectory, deepened operational excellence, and reinforced our position as a dependable partner to Nigeria and the West African power market.”
Ikenga explained that improved plant performance and fuel efficiency contributed to higher generation and revenue, adding that the company increased its available capacity from 505MW to 625MW during the year.
He noted that the firm also strengthened its gas supply position by securing additional volumes from suppliers and advancing discussions to diversify its fuel sources.
“Increased energy generation was driven by improved operational run time and optimised fuel usage. These gains contributed to stronger revenue performance and supported sustained margin resilience,” he said.
The CEO, however, pointed to persistent challenges in the power sector, including transmission constraints and a major failure of key 330kV lines, which underlined the need for improved grid infrastructure and system protection.
Despite these constraints, he said the company maintained a stable electricity supply and continued to support the national grid.
On operational efficiency, Ikenga stated that Transcorp Power recorded gains from in-house execution of previously outsourced activities and reduced downtime through lean operational practices.
The company also maintained a strong safety record, achieving over 1.14 million man-hours without a lost time injury, reflecting its focus on health and safety standards.
On shareholder returns, Ikenga said the company remained committed to disciplined capital allocation, balancing reinvestment with dividend payouts and debt obligations.
He added that the company’s balance sheet showed total assets of N468bn, with equity at N183bn and liabilities at N380bn as of the end of 2025.
Looking ahead, both the board and management expressed optimism about the company’s outlook, citing expected improvements in macroeconomic conditions and ongoing power sector reforms.
They noted that initiatives such as the planned Grid Asset Management Company and efforts to increase national grid capacity to 8,500MW could enhance electricity evacuation and improve overall system reliability.
Ikenga said the company would focus on expanding generation capacity, strengthening fuel security, improving working capital management, and growing regional electricity sales within the West African Power Pool.
He added that Transcorp Power would continue to align its operations with environmental, social and governance standards while investing in host communities through infrastructure and empowerment programmes.
The PUNCH earlier reported that Transcorp Power Plc, a subsidiary of Transnational Corporation Plc, announced its audited financial results for the year ended December 31, 2025, posting revenue of N398.27bn, up from N305.94bn in the 2024 financial year, reflecting robust growth.
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