Tony Elumelu’s Transcorp hits N1 trillion in assets; dividend doubles

In a year marked by strong earnings and steady execution, Transcorp Group, the diversified group controlled by Nigerian billionaire Tony Elumelu, delivered a set of results that placed it firmly among Nigeria’s most profitable corporate names, with total assets crossing the N1 trillion ($740 million) threshold and a full-year dividend payout of N20.3 billion ($15 million).

For the year ended Dec. 31, 2025, profit after tax rose by 44 percent to N135.9 billion ($100.2 million), up from N94.1 billion ($69.3 million) in 2024, reflecting what the company described as record performance across its core businesses. Revenue climbed 33 percent year-on-year to N544.1 billion ($402.8 million), compared with N407.9 billion ($302 million) in the prior year, supported by growth across its power and hospitality units.

The group’s power subsidiaries remained the largest contributors to revenue, posting a 38 percent increase to N483.97 billion ($358.2 million), driven by improved generation capacity and more reliable gas supply. In hospitality, Transcorp Hotels Plc recorded a similar 38 percent rise in revenue to N97.04 billion ($71.8 million), helped by demand across rooms, conferencing, food and beverage, and premium guest services.

Diversification drives power, assets, dividend growth

Elumelu, who chairs the group, framed the results as a reflection of deliberate choices and long-term focus. “Our 2025 results are not just strong — they are decisive,” he said. “They reflect the power of a deliberately diversified portfolio, disciplined execution, and our unwavering belief in Nigeria’s long-term potential.”

He pointed to measurable gains in the group’s power businesses, noting that Transcorp Power increased available capacity to 625MW, while TransAfam Power tripled peak generation capacity to 270MW, describing both as meaningful contributions to energy supply and industrial growth.  Beyond power, Elumelu said the group’s hospitality arm continues to expand its footprint, with Transcorp Centre Abuja positioned to host large-scale global events, adding that the company remains focused on delivering sustainable, long-term value for shareholders and supporting Nigeria’s economic development.

Group Chief Executive Officer Owen Omogiafo described the year as a defining period for the company, with total assets rising from N751.5 billion ($554.4 million) at the end of 2024 to N1.002 trillion ($740 million) a year later. Shareholders’ funds grew 47 percent, from N240.2 billion ($177.2 million) to N363.4 billion ($268.1 million), while retained earnings increased from N105.55 billion ($77.9 million) to N181.18 billion ($133.7 million).

She said crossing the N1 trillion asset mark underscores investor confidence and reflects the strength of the group’s operating platform, adding that the company remains focused on delivering returns while expanding its role in the broader economy. The board recommended a full-year dividend of N2 ($0.00147) per share, amounting to N20.3 billion, doubling the N1 ($0.000737) per share paid for 2024. This year’s payout includes an interim dividend of N0.4 ($0.000294) per share already distributed and a proposed final dividend of N1.6 ($0.00118).

Transcorp grows power, energy, hospitality reach

Transcorp’s operations span power, hospitality and energy, with its power businesses—Transcorp Power Plc and TransAfam Power—accounting for more than 20 percent of Nigeria’s installed electricity capacity. The group is also advancing its position in the domestic energy value chain through its investment in OPL281, while its hospitality portfolio includes the Transcorp Hilton Abuja and the Transcorp Centre Abuja, both central to its push in the sector.

Taken together, the numbers point to a company that is not only expanding its balance sheet but also strengthening its earnings base, with management leaning on scale, execution and a broad portfolio to deliver returns in a challenging operating environment.