Omogiafo: We’ll Consistently Deliver High Returns to Transcorp Stakeholders
Kayode Tokede
The President of Transnational Corporation Plc, Owen Omogiafo, yesterday said the company’s overall strategic objective is to fully optimize its existing assets to ensure it consistently delivers value and high returns to stakeholders.
Speaking at the company’s “fact behind the figures” in Lagos, she disclosed that Transcorp in 2022 key priority is to achieve set targets for the year across the various operating segments.
She said, “As a Group, we will remain resolute as we execute our strategic priorities in 2022.”
Part of the set strategic targets she mentioned was to increase Transcorp Power Limited Average Available Capacity to 690 MW and target 553 MW Generating Capacity in 2022.
According to her, Following the administrative handover on March 2021, we successfully increased and maintained the available plant capacity from 48MW at the time of takeover to 188MW with minimum CAPEX requirements between March 2021 to September 2022.
“However, the ongoing gas challenges impacted our generation capacity. TAPL has undertaken the following activities to improve performance going forward: Commissioning of GT20 with an additional capacity of 138MW in September. GT20 has been non-operational for 15 years; execution of a gas supply agreement with AccuGas and HHOG and discussion with other gas supply to ensure we have a steady gas supply.
She added that with the improvement in installed capacity and gas supply, Transcorp is looking forward to finishing strong in 2022 and a solid start in 2023.
Omogiafo explained that group would continue to surpass industry and targets across key performance indicators, stressing that the 2022 strategic target for Transcorp Hilton Abuja is pegged at 73 per cent, while that of Transcorp Hotels Calabar at 53 per cent.
She noted that amidst the current economic situation; inflation, foreign exchange volatilities and insecurities, the management at Transcorp has ensured maximum efficiency through and consistently deliver of superior service to guests, while it maximum revenue and creatively seek ways to optimise key business segments whilst driving consistent growth in leisure & staycations.
On the company’s free float, she said Transcorp Hotels part of focus going forward includes: achieving the required 20 per cent issued shares free float percentage and continuous quarterly engagement with Investors showcasing its business initiatives and plans.
“We continue to build stakeholder interest through product innovation, good corporate governance practices, and awards to ensure strong patronage and buy when we do go to the market,” she said.
