HomeAnalysisTranscorp CEO Commits to Improved Performance

Transcorp CEO Commits to Improved Performance

The President/Group CEO of Transcorp, Mrs. Owen Omogiafo, has stated her commitment to safeguard shareholdersโ€™ interests by ensuring improved performance and returns on investment.

Omogiafo, who was recently appointed the Group CEO with a team of subsidiary CEOs, stated that the new management team was dedicated to delivering and exceeding the strategic objectives of the company, rooted in its founding vision and expressed in its corporate purpose of โ€˜Improving Lives, Transforming Nigeria.

The CEO, who gave the commitment at the annual general meeting (AGM) added: โ€œIn hospitality, we will deepen and expand our market share by deploying an asset light strategy, leveraging best in class technology and continuously drive the highest service standards.

โ€œIn power, we target completing the ongoing transaction for the 100 per cent acquisition of another power plant in the gas rich Niger Delta Region of Nigeria โ€“ Afam Genco, this year.

โ€œThis will enhance our play in the power space, with increased generation capacity, revenue and profitability. Our drive to diversify our energy mix will also continue, with a focus on renewable energy and off grid solutions.

โ€œWe will continue to monitor developments in the oil and gas space, while making the best decisions in the interest of the company and its shareholders regarding the development of our oil and gas asset, OPL 281.

According to her, working with the MD/CEO of Transcorp Hotels Plc, Dupe Olusola and the MD/CEO, Transcorp Power Ltd, Chris Ezeafulukwe, and all their staff and partners, they are well positioned as a group to continue to deliver great value for our shareholders.

In his address to the shareholders, the Chairman, Transcorp Plc, Mr. Tony Elumelu, commended efforts of the government in combating the pandemic and reiterated the importance of synergy between the private sector and government, in stemming the spread of the global pandemic.

โ€œI have often said our commitment to improving lives and transforming Nigeria is a lifelong one. Those words are truer today than ever, as we partner with State and Federal authorities to stem the tide of the COVID-19 pandemic, while our businesses seek to cushion its impact for Nigerians in their course of operation,โ€ Elumelu added.

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