🇳🇬NigeriaWest Africa
Transcorp Power declares N41.25 billion dividend for 2025 financial year
via Punch Nigeria3 min read
Transcorp Power Plc has declared a total dividend of N41.25 billion for the 2025 financial year, following improved earnings driven by higher generation output and operational efficiency. The Chairman of the Board of Directors, Emmanuel Nnorom, announced this at the company’s 13th Annual General Meeting in Abuja, stating the payout reflects a commitment to shareholder value. The dividend comprises an interim dividend of N1.50 per share and a final dividend of N4.00 per share, totaling N5.50 per share. Nnorom highlighted the company's resilient performance in 2025 despite macroeconomic and sectoral pressures, with revenue rising from N305.9 billion in 2024 to N398 billion in 2025, and profit after tax increasing by 14.25 percent to N91.4 billion from N80 billion. He attributed this to stronger generation capacity and disciplined cost management amid challenges like elevated inflation and rising operating costs. The Managing Director/Chief Executive Officer, Peter Ikenga, noted the company consolidated its growth trajectory despite operational headwinds, including grid constraints, and increased available capacity from 505MW to 625MW. He also mentioned strengthening gas supply and advancing discussions to diversify fuel sources. Ikenga pointed to persistent challenges in the power sector, such as transmission constraints, but affirmed the company maintained stable electricity supply. Transcorp Power recorded gains from in-house execution and reduced downtime through lean operat
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Oby Ajih, the South-East Zonal Woman Leader of the All Progressives Congress, stated that President Bola Tinubu is creating opportunities that could lead to a woman becoming Nigeria’s president. Speaking at the Abia APC Women Mid-Year Prayer Summit and Widows Empowerment Programme in Umuahia, Ajih noted that women are now being included in national affairs and will no longer face hunger. She added that First Lady Senator Oluremi Tinubu acknowledged women's challenges and encouraged them, assuring that their situation would improve after the 2027 elections. Lady C.C. Erondu, the Abia APC Woman Leader and event organizer, shared her understanding of widows' struggles as a widow herself and promised support from the First Lady. Erondu also expressed optimism that President Tinubu's administration would create employment for youths. Uzor Azubuike, the APC candidate for Aba North and South Federal Constituency, commended Erondu's efforts in organizing the program.
The Federal University Birnin Kebbi has confirmed the death of Zaharadeen Nuhu, a 300-level Biochemistry student, who was killed in an attack by suspected thieves. The incident occurred at a private hostel in Kalgo Local Government Area of Kebbi State, where Nuhu sustained severe machete injuries. He was rushed to a hospital but died in the early hours of Thursday. The university's Dean of Student Affairs, Prof. Ibrahim Magawata, stated that the deceased, who hailed from Niger State, was attacked at his off-campus residence. The university management has contacted the Nigeria Police Force, Kalgo Division, and investigations are underway. Security patrols have been intensified in Kalgo and other off-campus areas. A meeting is scheduled with private hostel owners to implement stricter security measures, including improved lighting and night guards. Students are urged to remain calm, vigilant, and report suspicious activities. The university expressed its commitment to student safety and welfare. Nuhu was buried on Thursday after a funeral prayer at the Federal Teaching Hospital mosque in Birnin Kebbi. The university management extended condolences to his family, friends, and the student community.
BreakingThe 2026 World Cup commenced with co-hosts Mexico securing an early advantage over South Africa, with Julian Quinones scoring in the ninth minute at the Estadio Azteca in Mexico City. This marked the beginning of a nearly six-week tournament featuring 48 teams across the United States, Mexico, and Canada, projected to generate a record $13 billion in revenue. The opening ceremony included performances by Shakira and Burna Boy. Despite scuffles outside the stadium and criticism regarding ticket prices and visa issues, FIFA president Gianni Infantino defended the tournament's organization, citing affordable entry prices and the challenges of international events. He also addressed the controversy surrounding Somali referee Omar Artan, who was denied entry to the US, and highlighted Iran's participation amidst geopolitical tensions. Infantino praised former US President Donald Trump for his role in securing the World Cup for the United States. South Korea and the Czech Republic are scheduled to play the second game, while Spain, France, and England are considered favorites, with Lionel Messi leading reigning champions Argentina.