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Transcorp Committed to Significantly Increasing Power Generation in Nigeria. ……Chairman Elumelu states “Transcorp will light up Nigeria”

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At the 11th Annual General Meeting of Transnational Corporation of Nigeria Plc(“Transcorp”), the Board ofDirectors confirmed their confidence in Transcorp’s growth trajectory and affirmed the Company’s commitment to increasing yield and returns to shareholders, while continuing its significant capital investment strategy. Despite the difficult economic climate, revenue grew by 46% in 2017(N59.42bn).

Transcorp is Nigeria’s leading listed conglomerate, active in the power, resource, hospitality and agroindustry sectors. The AGM 
took place on March 29th, 2017, at the Oriental Hotel, Victoria Island, Lagos.

Chairman, Transcorp Plc., Mr. Tony O. Elumelu highlighted the significant progress made by Transcorp group companies, stating that Transcorp was uniquely position to impact the Nigerian economy positively and improve quality of life for all Nigerians.

“Our investments in the key strategic sectors of the Nigerian economy directly align with our philosophy of meaningfully and positively impacting lives and transforming the African continent. We invest for the long term, knowing that at times the headwinds can be strong. We want to be the biggest provider of power to the Nigerian economy; we want to put light in homes, schools and hospitals; we want to provide the power for Nigeria’s industrialisation. When foreign investors come to Nigeria, we want to host them in our Transcorp Hilton hotels; and we want to supply indigenous produced oil and gas to power our networks and roads. Throughout 2016, we have continued to invest in Nigeria, when others waivered,because we are absolutely‎ convinced in Nigeria’s destiny as the next global economic powerhouse.”

Elumelu spent time providing shareholders with a detailed update of the Company’s 
achievements and highlighted the recent commissioning of the 115MW Gas Turbine at Ughelli Power Plant, Nigeria’s largest capacity gas generating plant, as evidence of the progress made by the Group in the power sector, despite regulatory and operating challenges.

Shareholders were informed of other important developments at the Company, including the impending increase of available capacity of the Ughelli Power Plant to 850MW by the end of 2017; the $100m renovation of the Transcorp Hilton Abuja, also to be completed in 2017; and the conclusion of exploratory drilling of Transcorp’s oil well , before the end of 2017. According to Elumelu, Transcorp’s future is bright, with the completion of these projects and looks forward to sharing the social equity these investments will create in Nigeria in the form of jobs, community empowerment, and improved quality of life.

Also, speaking at the meeting, the National President of the Association for the Advancement of the Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar commended the Board for offering an impressive vision for the future for Transcorp, despite the difficult economic conditions, which impacted negatively on the Company in 2016. He went on to state that he was convinced that with the strategy already in place, the shareholders stand with theBoard in its determination to return the Company to profitability. He called on the Federal Government, to act on the structural issues in power sector,which had contributed negatively to the Company’s profitability in 2016.

Responding to the comments from the shareholders, Transcorp’s  President/CEO, Mr. Emmanuel Nnorom, said the Board’s mandate was to achieve strong financial results, despite a challenging operating environment. “We will continue to work and live by our values of execution, enterprise and excellence, towards optimal maximisation of the abundant opportunities that exist in our operating sectors,” Mr Nnorom said.

Mr Nnorom reiterated the Chairman’s optimism that‎ 2017 looks bright, promising better results in 2017 and beyond. Nnorom said that the considerable investment made 
were already yielding fruit and that the Company had illustrated both prudence and a willingness to invest for the future of all.

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NAFDAC Seizes Over N3.8Billion Unregistered Food Products In Lagos

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The National Agency for Food and Drug Administration and Control (NAFDAC) on Tuesday announced that it seized unregistered food products worth over N3.8 billion in Lagos State.

The food and drug regulatory agency in a statement said its Investigation & Enforcement Directorate raided a warehouse at Apongbon Oke Arin Market in Lagos following a tip-off about the sale of unregistered food products.

NAFDAC said, “Various unregistered items valued at N3,818,802,720 were seized during the operation, and the facility has been placed on hold pending further investigation.

“The warehouse management has been summoned for questioning, and appropriate sanctions will follow after investigations.”

The agency reaffirmed its commitment to protecting public health and ensuring compliance with regulatory standards.

“We also urge the public to remain vigilant during the festive season, and report suspicious activities to the nearest NAFDAC office,” the statement added.

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Ibadan Stampede Update: Court remands Ooni’s ex-wife Naomi Silekunola, Oriyomi Hamzat..

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A Chief Magistrate’s Court sitting in Iyaganku, Ibadan, on Tuesday, ordered the remand of the former wife of the Ooni of Ife, Naomi Silekunola; the Chief Executive Officer of Agidigbo FM, Oriyomi Hamzat; and the Principal of Islamic High School, Abdullahi Fasasi, at the Agodi Correctional Centre.

The remand order followed their arraignment in connection with last week’s tragic stampede at a Christmas funfair held at Islamic High School, Bashorun, Ibadan, which claimed the lives of 35 children and left six others injured.

The court presided over by Chief Magistrate Olabisi Ogunkanmi, issued the order after the suspects were brought to court amidst heavy security.

The defendants are facing a four-count charge. According to the police prosecutor, the offences contravened Section 324 of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State, 2000.

The prosecution alleged that the trio played a role in the events leading to the stampede that turned the Christmas celebration into a tragedy.
Chief Magistrate Ogunkanmi directed that the defendants be remanded at the Agodi Correctional Centre pending legal advice from the Oyo State Director of Public Prosecutions.

The court proceedings, which drew significant public attention, saw law enforcement officers heavily guarding the suspects as they were escorted to and from the court premises.

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How Walter and Winifred Akpani spread Christmas cheer at Augustine University – Toni Kan

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Since my brother passed and I became surrogate to the children he left behind, they have alternated between calling me Dad or Uncle depending, usually, on how happy they are with me.

I have never really minded because my own biological children sometimes call me Toni Kan as the spirit moves them.

So, I was a bit apprehensive when I got a Whatsapp message from one of them, an undergraduate at Augustine University, Ilara-Epe, Lagos.

“Uncle, please call me!”

“Are you alright?” I asked when I finally dredged up courage to call.

“Some people from your village came to our school today.”

“Which village?” I asked.

“Ibusa,” came the answer.

“You are from Ibusa too and it is not a village,” I tried to explain as I have done a hundred times.

The “people from my village” were Sir Walter and Dame Winifred Akpani who it turns out had attended the dedication of the Chapel they built, furnished and donated to Augustine University under the Lagos Archdiocese.

It must have been a moment of pride for a child who has always claimed Lagos as home and perpetuated the city and village binary.

Described as “something out of this world” by the priest who anchored the event, the chapel of Mary Mother of the Church which can seat 1,200 people was dedicated on Monday December 16, 2024 on the campus of Augustine University, Ilara-Epe.

The dedication offered an opportunity for a comingling of Archbishops and faithful’s drawn from the Lagos, Abuja and Ijebu-ode dioceses.

According to the University’s website, “The dedication was presided over by the Archbishop of the Metropolitan See of Lagos and Proprietor of Augustine University, His Grace, Most Rev. Dr. Alfred Adewale Martins, who delivered a profound homily. He was supported by the Archbishop of Abuja Catholic Archdiocese, His Grace Most. Rev. Dr. Ignatius Ayau Kaigama and the Bishop of Ijebu-Ode Catholic Diocese, Most Rev. Dr. Francis Obafemi Adesina.”

They were joined by the Visioner of Augustine University and Archbishop Emeritus of Lagos, His Eminence Anthony Cardinal Okogie and over 100 priests in the celebration of the Holy Mass followed by the “sacred anointing of the altar and walls of the church, as well as the decoration and incensation of the altar and the entire chapel, symbolizing the consecration of the space as a place of worship and reflection.”

The foundation of the chapel was laid in 2019. It was created by Teresa Mallamaci, an acclaimed Italian architect based in Rome and has been realised as “a harmonious blend of Christological and Mariological motif” with the resulting edifice seamlessly melding “aesthetic elegance with spiritual symbolism.”

 

The brand new Chapel of Mary Mother of the Church features two distinct side Chapels; one dedicated to Eucharistic Adoration with a sacred space for prayers and meditation and another which will be used for celebrating weekday masses or for smaller congregations.

Rev. Fr. Andrew Toye was unveiled as the new Chaplain of the Chapel and he takes over from Rev. Dr. Emmanuel Ogundele, who had served with dedication in an acting capacity.

The Chaplain has a purpose built home contiguous to the chapel and both facilities have been provided with generators to ensure round-the-clock power,

Sir Walter Akpani who holds a Master of Science degree in Finance from the University of Strathclyde, Scotland is the Managing Director / CEO of wave-making Providus Bank which inked a celebrated merger with Unity Bank in mid-2024.

With over 30 years of financial experience, Walter Akpani was a pioneer staff of ICON Stockbrokers, before joining the restructuring team at Commercial Trust Bank, becoming a pioneer staff at Standard Trust Bank Plc now United Bank for Africa (UBA) as well as at Platinum Bank Ltd which he left as Vice President, Institutional Banking, to set up United Mortgage Bank Limited, which has now metamorphosed into Providus Bank. He is a respected Treasurer in the Nigerian banking industry and a committed change agent.

A devout Catholic, Walter Akpani was invested as a Knight of St. Sylvester in September 2024 when he received papal honours from Pope Francis alongside others – Lady Christine Doja Otedola, Mr. Julius Olufunsho Britto, Mr. Peter Amangbo and Mr. Peter Nwanze – in recognition of “their dedication and exceptional service to the Church in different Apostolates.”

Dame Winifred Akpani, a Member of the Governing Council, Augustine University and past chairman of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) is a graduate of Mathematics from the University of Benin. Driven, diligent and resilient, she is the founder and CEO of Northwest Petroleum & Gas Ltd, Rosarium Lubricants, Northwest Energy Ltd, Millennium Oil & Gas Ltd with interests in the upstream and downstream sectors of the Nigerian oil and gas industry. Northwest Petroleum & Gas Ltd is one of Nigeria’s biggest downstream players and owns two tank farms, 200 distribution trucks and over 100 petrol stations spread across the country.

Those are the people from my village who went to spread Christmas cheer at St Augustine University.

 

***Toni Kan Onwordi is a PR expert and financial analyst.

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