🇳🇬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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The Confederation of African Football has awarded Ghana the hosting rights for the 2027 CAF U-20 Africa Cup of Nations. The Ghana Football Association announced this decision, which CAF communicated in a letter to its General Secretary, Prosper Addo. The GFA stated that this decision reflects CAF's confidence in Ghana's ability to organize a high-standard youth football tournament. Ghana last hosted this competition in 1999, when the Black Satellites won the title. The 2027 edition will coincide with Ghana's 70th Independence anniversary. CAF will collaborate with the GFA and a Local Organising Committee on infrastructure, logistics, security, and fan experience to ensure a successful event. This hosting opportunity is seen as an endorsement of Ghana's reputation as a premier football hub in Africa. The CAF U-20 Africa Cup of Nations is a significant development platform for young players, and Ghana is expected to begin preparations for this continental football event.
Must ReadJury selection has commenced in the legal dispute between Elon Musk and OpenAI, where Musk accuses his co-founders of betraying a non-profit mission to develop artificial intelligence for the benefit of humanity, rather than for financial gain. This trial, taking place across the bay from San Francisco, pits Musk, the world's richest person, against a startup he once supported and now competes with in the AI sector. OpenAI's ChatGPT is a significant competitor to Grok, the chatbot developed by Musk's xAI lab. Wedbush analyst Dan Ives described the situation as a "tech soap opera" that investors will closely monitor, noting the personal nature of the feud between Musk and OpenAI Chief Executive Sam Altman. The lawsuit highlights a broader debate about whether AI should serve a select few or society as a whole. Court filings indicate that Altman convinced Musk to back OpenAI in 2015 as a co-founder for a non-profit lab, with its technology intended to "belong to the world." Musk invested millions into the lab before his departure. OpenAI later established a commercial subsidiary to secure the substantial funding required for data centers to power its technology. Microsoft has invested billions in OpenAI, and its CEO, Satya Nadella, is expected to testify. Musk argues he was misled about OpenAI's altruistic mission. OpenAI, based in San Francisco, has countered in court filings that its separation from Musk was due to his desire for absolute control, not its non-profit status. O
A new study reveals that the number of years British people enjoy good health has decreased by over two years in a decade, with more individuals experiencing ailments before retirement age. Between 2012-2014 and 2022-2024, healthy life expectancy HLE in the UK dropped from 62.9 years for men and 63.7 years for women to just under 61 for both. Andrew Mooney, principal data analyst with the Health Foundation and co-author of the study, stated that "The UK’s health is deteriorating and slipping further behind comparable nations." The study defines HLE as the average number of years a person expects to live in good health, based on current mortality rates and self-reported good health. The findings indicate a "watershed moment" as years of good health now fall below the retirement age of 66, which will rise to 67 in 2026. The UK is one of only five high-income countries where healthy life expectancy fell between 2011 and 2021, experiencing the second steepest decline, with only the United States now having a lower healthy life expectancy. The report also highlighted widening inequalities, with the gap in healthy life expectancy between the most and least deprived areas in England reaching 19.4 years for males and 20.3 years for females. For example, HLE for men in wealthy Richmond is 69.3 years, while in Blackpool, it is 50.9 years. The report attributes this to successive governments failing to take long-term action, leading to economic, fiscal, and human costs.
Must ReadThe Nigerian Army is facing significant criticism following the death of Abdulsamad Jamiu, a National Youth Service Corps member, in the Dei-Dei area of Abuja. The Army, through Lieutenant Odunola Olawuyi, Acting Assistant Director of Army Public Relations, stated that Jamiu was caught in a crossfire during a gun duel between troops responding to an armed robbery distress call and fleeing suspects. However, relatives and friends of Jamiu have challenged this account. A TikTok user, identified as #Zarah.2 and claiming to be Jamiu’s relative, alleged that soldiers scaled a fence, entered Jamiu's residence around 2:00 a.m., and shot him twice through his door, hitting his head. She also claimed soldiers cleaned blood from the floor. A friend, #Mohamazinggg on X, corroborated these details, stating that three armed military men forced their way into the house where Jamiu was with his younger siblings, shot through his locked door multiple times, hitting him in the head and stomach. The friend further alleged that soldiers prevented Jamiu’s sister from seeking help and called local vigilantes to clean the scene. The incident has sparked outrage on social media, with protests demanding "Justice for Samad." A Community Note on the Army's official X post highlighted the contradiction between the Army's crossfire claim and witness accounts. The Nigerian Army has announced that a thorough investigation has commenced, and its findings will be made public.