National Economy
Wednesday, August 6, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Companies & Markets

FG Issues Transcorp Power Discharge Certificate

by SOLOMON NDA-ISAIAH
2 years ago
in Companies & Markets
Reading Time: 2 mins read
Power
Share on FacebookShare on TwitterShare on Telegram

In a remarkable development, Transcorp Power Plc has been delisted from the routine evaluation and monitoring of the Bureau of Public Enterprises (BPE), marking a significant achievement for the company.

Vice President Yemi Osinbajo, alongside members of the National Council on Privatization (NCP), chairman, and members of the Transcorp Power team, gathered to celebrate the momentous occasion.

Speaking at the event which held at the presidential villa, Abuja, Vice President Osinbajo, expressed delight at the successful conclusion of the power sector matter and highlighted the rarity of witnessing such a seamless process in the public sector. 

He commended the BPE for its diligent monitoring and objective decision-making, acknowledging the importance of the routine evaluation and monitoring framework.

You May Like

NASD Elects Bolo As Chairman

Nigerian Breweries Records N738.14bn Revenue

The vice president further applauded the management of Transcorp Power Plc, led by Tony Elumelu, for their exceptional performance in meeting and even surpassing the agreed-upon covenants and deliverables outlined in the Post Acquisition Plan (PAP). 

He urged the company to continue its commitment to excellence and encouraged other private power companies to follow suit.

“The power needs of our country are grave, and we strongly believe that the privatisation of the power sector is the right approach,” Osinbajo said.

He expressed confidence in serious-minded private sector players, like Transcorp Power, investing in the provision of public power while maintaining efficiency and profitability.

Osinbajo also extended his congratulations to Tony Elumelu and his dedicated team at Transcorp Power Plc for their outstanding performance. 

In his response, Elumelu expressed his appreciation to the federal government for the trust and confidence placed in Transcorp Power Plc. 

He reiterated his company’s commitment to improving access to electricity in Nigeria and highlighted the importance of the power sector in driving the country’s economic growth.

Elumelu also pointed out that Transcorp Power Plc was committed to indigenisation, with the power plant being managed and operated 100 per cent by Nigerians. 

He further stated that safety standards were extremely high, with no incident recorded since 2013.

Elumelu thanked the federal government for its support and pledged to do more in the power sector. 

He also highlighted Transcorp Power Plc’s contribution to the local community, including the creation of jobs and investment in healthcare and education.

The successful delisting of Transcorp Power Plc from BPE’s routine evaluation and monitoring signifies the company’s ability to deliver power efficiently and exceed expectations. 

This achievement reflects the broader objective of privatisation to attract capable private entities that can contribute significantly to Nigeria’s power sector.

This milestone serves as a beacon of progress for Nigeria’s power sector, showcasing the potential of private investment to drive efficiency, profitability, and ultimately, improved access to electricity for the Nigerian population.

The hope remains that more private power companies will step forward and undertake similar transformations, thereby contributing to the nation’s power supply and meeting the expectations set forth in their respective post evaluation plans.

 

ShareTweetShare
Previous Post

Deepening Capital Market With Commodities Fund

Next Post

Buhari’s Enduring Legacies In Power Sector

ANOTHER GOOD READ

NASD Elects Bolo As Chairman
Companies & Markets

NASD Elects Bolo As Chairman

2 days ago
Nigerian Breweries Records N738.14bn Revenue
Companies & Markets

Nigerian Breweries Records N738.14bn Revenue

2 days ago
Aradel Holdings Reports Net Profit Of N146.4bn In H1
Companies & Markets

Aradel Holdings Reports Net Profit Of N146.4bn In H1

2 days ago
Polaris Bank Empowers Over 3,000 Youths in Ajegunle Community
Companies & Markets

Polaris Bank Empowers Over 3,000 Youths in Ajegunle Community

1 week ago
Wema Bank Wins Best Digital Bank In Nigeria Award
Companies & Markets

Wema Bank Wins Best Digital Bank In Nigeria Award

1 week ago
BUA Cement Records Strong Revenue Growth Of 90.5% To N867.5bn
Companies & Markets

BUA Cement Records Strong Revenue Growth Of 90.5% To N867.5bn

1 week ago
Next Post
Buhari-Muhammadu1

Buhari’s Enduring Legacies In Power Sector

Most Recent

Nigeria to License Procurement Trainers in Crackdown on Quackery

Nigeria to License Procurement Trainers in Crackdown on Quackery

August 6, 2025
WhatsApp Launches App For iPad

WhatsApp Bans 6.8m Scam Accounts, Adds New Safety Features

August 6, 2025
Capital Inflows Hit $5.6bn in Q1 As Abuja Tops Lagos

Capital Inflows Hit $5.6bn in Q1 As Abuja Tops Lagos

August 6, 2025
Nigeria’s Aviation Sector Eyes Cheaper Fleet Via Dry Lease

Nigeria’s Aviation Sector Eyes Cheaper Fleet Via Dry Lease

August 6, 2025
Cooking Gas Hits ₦21,010 In June As South-South States Record Highest Prices

Cooking Gas Hits ₦21,010 In June As South-South States Record Highest Prices

August 6, 2025
Germany Expands Schengen Visa Centres In Nigeria, Cameroon, Cyprus

Germany Expands Schengen Visa Centres In Nigeria, Cameroon, Cyprus

August 6, 2025
Edo Gov Suspends NURTW, RTEAN Activities Over Alleged Extortion

Edo Gov Suspends NURTW, RTEAN Activities Over Alleged Extortion

August 6, 2025

NCAA Suspends 2 ValueJet Pilots Over Safety Breach At Abuja Airport

August 6, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy