Transcorp Group’s President and Chief Executive Officer, Owen Omogiafo, has emphasised the company’s commitment to addressing Africa’s power challenges through impact-driven investments in generation, distribution, and renewable energy.
Speaking to Okay News at the Future Investment Initiative (FII9) in Riyadh, Omogiafo said the company’s purpose remains to improve lives and transform Africa, with notable progress in power generation capacity.
“Our purpose is to improve lives and transform Africa. How do you improve lives? You do not deal with the power crisis,” she said. “In our Afam power plant, we’ve increased our available capacity roughly by 138 megawatts and today we’re at 348 megawatts of power available. In our Ugali power plant, we’ve also taken our available capacity to about 650 megawatts and are looking to take it up to 750 megawatts.”
She explained that while progress has been made, challenges persist with gas supply and grid constraints. “This month alone, the month is not even over, and we’ve had to lose 100 megawatts of power that we could have generated in one of my plants alone in the Ugali power plant,” she said. “And do you know what 100 megawatts means? Between 100,000 to 150,000 homes are being powered.”
Watch the full interview on YouTube
Omogiafo stressed that Transcorp’s story goes beyond profit to real impact. “Yes, it’s good to make the numbers. It reinforces investors’ belief, but there’s also that concept, and this is where that sustainability comes in. The more power we generate, the more people can have access to power and drive the industrialisation of Nigeria,” she said.
On energy inclusion, she highlighted partnerships and policy alignment. “Through our mini grid and renewable energy structure, we are actually able to meet the underserved. Last year, we signed an MOU with the Rural Electrification Agency on 150 megawatts, and we’re going to be partnering with DFIs to get power to that last mile,” Omogiafo added.
She also addressed the need to increase women’s participation in leadership roles across energy and infrastructure sectors. “Do we need more women around the table? Yes, we do. Diversity of thought, diversity of perspective,” she said, noting Transcorp’s “Intern X” program that provides internships for young female students at its power plants.
Concluding, Omogiafo called on global investors to recognise Africa’s potential. “Africa cannot be left behind. Africa needs to be industrialised. This energy deficiency in Africa needs to be dealt with,” she said. “Africa is profitable, Africa is open, and Africa has the workforce. Our population is young. Over 80% of Africans are below 45 years of age.”
