Nigeria's Transcorp Group reports a 47% revenue increase to N197bn in 2023, driven by power and hospitality sectors; Chairman Elumelu calls for full privatisation of Nigeria'

Nigeria's Transcorp Group reported a 47% revenue increase to N197 billion in 2023, aided by investments in power and hospitality sectors. Chairman Tony Elumelu called for full privatisation of Nigeria's power sector to enhance efficiency and urged the government to pay over N2 trillion owed to power generation companies to prevent a collapse. Transcorp aims to maintain its strong financial performance by optimising subsidiary businesses, innovation, and brand value expansion.

May 27, 2024
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