KEY POINTS

• Transcorp Power reports 38 percent revenue growth and 17 percent profit rise.

• CEO Peter Ikenga says company is on track for a strong year-end.

• Total assets climb to $367 million amid stronger output.

Transcorp Power Plc, a subsidiary of Nigeria’s Transcorp Group led by billionaire Tony Elumelu, delivered stronger-than-expected results for the first nine months of 2025, buoyed by higher power generation and improved operational efficiency.

The company’s financial report showed revenue surged 38 percent year-on-year to N308.5 billion ($211 million), compared with N223.5 billion ($153 million) a year earlier.

The company grew because it added more generation capacity, made strategic investments in plant maintenance, and made things more efficient.

Transcorp Power stayed profitable even though the economy was still having problems. Profit went up 17 percent to N68.4 billion ($47 million) from N58.4 billion ($40 million) in the same time period in 2024. This was thanks to better cost control and more efficient use of resources.

CEO Peter Ikenga eyes strong year-end performance

Chief Executive Officer Peter Ikenga said the performance underscores Transcorp Power’s commitment to operational excellence and sustainable value creation.
“These results reflect our drive to improve operations, eliminate waste, and harness efficiency,” Ikenga said. “We are confident of finishing the year strong as we continue to improve lives and transform Africa.”

He added that consistent investment in reliability and performance remains central to the company’s growth strategy.

Transcorp Power expands asset base to $367 million

Transcorp Power, one of Nigeria’s largest power producers with an installed capacity of about 2,000 megawatts, supplies roughly 15.5 percent of the nation’s electricity.
In 2013, it bought the Ughelli electricity Plant, which was its first step into the electricity sector. In 2020, it bought the Afam Power Plant.

According to Billionaires Africa, the company has had strong development in both earnings and assets since it split from Transcorp Group and went public on the Nigerian Exchange (NGX) in March 2024.

As of September 30, 2025, retained earnings rose to N109.4 billion ($75 million) from N78.5 billion ($53.7 million) at the end of 2024, while total assets climbed to N536.7 billion ($367.4 million) from N396.8 billion ($272 million).