News

Kano Trade Fair: Emir of Kano, Others Applaud NCC’s Consumer Initiatives

Published

2 years ago

December 17, 2021

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

…We’re committed to consumer protection – Danbatta

The Emir of Kano, Alh. Aminu Ado Bayero, influential individuals, who visited the Nigerian Communications Commission (NCC) pavilion as well as telecom consumers, who participated at the ‘NCC Special Day’ at the recently-concluded 42nd edition of the Kano International Trade Fair, 2021 in Kano State, have commended the Commission for its various consumer-centric initiatives.

Bayero engaged the Commission’s staff at the NCC Pavilion while asking series of questions about the activities of NCC as it relates to service delivery and subsequently commended Management of the Commission led by its Executive Vice Chairman, Prof. Umar Danbatta, for being consumer-focused in its regulatory activities.

He charged other regulatory organisations across the country to emulate NCC’s template of constantly creating platforms, leveraging different fora and emplacing frameworks and initiatives to enhance consumer protection in their respective sectors which they supervise.

Another eminent visitor to the Commission’s pavilion on the exhibition ground at the trade fair was the Karaje in Kano State, Alh. Ibrahim Abubakar II.

Several other telecom consumers also thronged the NCC’s Stand where representatives of various mobile networks, namely MTN, Glo, Airtel and 9mobile were on hand to resolve all complaints referred to them by the Commission’s official at the pavilion.

Aside having their complaints resolved, the NCC officials also shared Information, Education and Communication (IEC) materials on various topical telecom issues to consumers both at the NCC Pavilion and, more importantly, at the ‘NCC Day’ event which held later in the afternoon of December 6, 2021.

Addressing a large gathering of telecoms consumers at the NCC Day event, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, thanked the Kano Chamber of Commerce, Industry, Mines and Agriculture (KACCIMA), organisers of the fair, for the constant invitation to NCC to leverage the trade fair platform as an avenue for engaging telecom stakeholders, especially the consumers.

Danbatta, who was represented by the NCC’s Director, Public Affairs, Dr. Ikechukwu Adinde, spoke on the theme of the trade fair: ‘Consolidating the Challenges of Covid-19 Pandemic to Opportunities for Growth and Development of Micro, Small and Medium Enterprises (SMEs) in Nigeria,” and promised that the Commission will continue to stimulate the increased access to digital infrastructure to support businesses and individuals, as well as constantly protect consumer rights and privileges.

According to Danbatta, telecommunications sector has been a major driver of the digital economy agenda of the Federal Government, as it continues to provide the needed digital sinews that support the economy, especially during the COVID-19 pandemic and its attendant restriction period.

“Since the outbreak of the pandemic, government institutions, businesses and individuals have relied heavily on telecoms services to carry out their daily operations and official routines. In response to the increased demand for telecoms services, the Commission put a number of regulatory measures in place to ensure seamless access by Nigerians to telecommunications services and protect them against any adverse impact on the quality of service enjoyed by consumers,” he said.

He said as the Commission continue to drive the remarkable digital transformation being witnessed in the Nigerian economy, one area that the Commission pays greater priority to is how consumers are treated by the service providers.

“This is why at NCC, we continue to treat consumers as Kings and Queens. Of course, that is who they are because without the consumer, both the regulator and the service providers have no business being in business,” he said.

Danbatta reiterated NCC’s commitment to protecting and empowering consumers – whether individuals and corporate consumers – from unfair practices willingly or unwillingly orchestrated by the service providers. “This is based on our regulatory mandate of ensuring that consumers of telecommunications services deserve to get value for their money, and to be treated right as very important stakeholders in the scheme of things,” he added.

In the same vein, the NCC’s Director, Consumer Affairs Bureau, Efosa Idehen, in his address, took a great deal of time enlightening the consumers on various consumer-centric initiatives put in place by the Commission to protect consumer rights.

The initiatives, explained in great details, include the NCC’s various channels of lodging complaints, the NCC toll-free Number 622, the Do-Not-Disturb (DND) short code 2442, the NCC’s Emergency Number 112, among several other consumer-focused programmes.

In his remarks, KACCIMA President, Dalhatu Abubakar, applauded NCC for prioritising consumer protection in all that it does. “I commend you for your efforts in ensuring that telecoms continue to play a critical role in not only transforming the way people live, work and play but also contribute significantly to the growth of Nigerian economy, as evidenced in the sector’s impressive contribution to the Gross Domestic Product (GDP),” he said.

Telecom consumers, who won various prizes in a raffle conducted to excite them at the event, also expressed appreciation to the Commission for being one of the leading public institutions championing the interest of the consumers.

News

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

Published

3 days ago

May 3, 2024

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.

In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.

The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.

The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.

The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:
• Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.

• Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.

• Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.

• Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.

• Profit before tax from ordinary business of the Group surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.

• Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.

• The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.

• Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.

• Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.

• On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.

• Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence.

Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets.

We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”

This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

About Transnational Corporation Plc (Transcorp Plc)
Transnational Corporation Plc (Transcorp Group) is a leading, listed African conglomerate, with strategic investments in the power, hospitality, and energy sectors. Driven by its mission to improve lives and transform Africa, Transcorp has built a longstanding reputation for sector transformation, operational excellence, and exceptional financial performance, delivering value to its shareholders.
In the power sector, Transcorp’s businesses – Transcorp Power Plc and Transafam Power – provide over 16% of Nigeria’s installed power capacity.

Through its investments in the energy sector including OPL287, Transcorp is developing Nigeria’s domestic energy value chain.

The Group’s listed hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and Aura by Transcorp Hotels, a digital hospitality platform enabling travellers to book accommodation across Africa.

News

AEDC Partners with Government and Stakeholders to Tackle Power Challenges in Nasarawa and Niger State.

Published

3 days ago

May 3, 2024

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Amid mounting concerns over erratic power supply in Nasarawa State, Abuja Electricity Distribution Plc (AEDC) has reaffirmed its commitment to addressing the electricity challenges facing the region.

Rt. Hon. Danladi Jatau, Speaker of Nasarawa State House of Assembly (middle), alongside Yakubu Suleiman Umar, GM of Nasarawa Electricity Power Agency (fifth left), and Engr. Johnathan Adeyemi, Chief Business Officer of Kogi, Niger, and Nasarawa (KNN) regions (sixth right), and other delegates engaged in a crucial dialogue on electricity service enhancement at the Nasarawa State House of Assembly, Lafia on April 30th, 2024.

Engr. Jonathan Adeyemi, AEDC’s Chief Business Officer for Kogi, Niger, and Nasarawa, represented tye Disco at the Nasarawa State House of Assembly on April 30th, 2024, following its summon by the assembly to address the pressing issues.

Acknowledging the frustrations of residents grappling with inconsistent electricity provision, AEDC assured Niger State’s residents of its proactive measures to ameliorate the situation. Promising increased allocation contingent on national generation improvements, AEDC emphasized its dedication to meeting the energy needs of the community. Engr. Adeyemi also urged residents to embrace the deregulation of prepaid meters to expedite their deployment, thus facilitating more efficient monitoring and management of electricity consumption.

During constructive discussions with representatives from the Nasarawa State House of Assembly, both entities resolved to collaborate towards enhancing customer satisfaction and improved service delivery.

In Niger State, AEDC is working to proactively ensure the safety and security of its personnel and infrastructure. Engr. Samuel Odekina, the Niger State Regional Manager and his team, paid a courtesy visit to key law enforcement officials, including the Commissioner of Police, Niger State, CP Ebenezer Danmamman, and the Commandant of NSCDC Niger State Command, Cmdr. Joachin Okafor, on April 26th, 2024. The aim was to foster a conducive environment for reliable electricity supply by addressing pertinent security concerns.

Through continued dialogue and cooperation among AEDC, government agencies, and customers, there exists a shared determination to surmount challenges and improve the electricity landscape in both Niger and Nasarawa state respectively.

Customers were advised to escalate all electricity-related issues via AEDC’s social media platforms or its offices for technical or commercial support.

News

Tree4Life Project: NEPL/Seplat JV, Edo Sign Reforestation Agreement

Published

3 days ago

May 2, 2024

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The NNPC Exploration and Production Ltd/Seplat Energy Joint Venture and the Edo State Government have signed an agreement that will see the state government allocate 6,000 hectares of land from its protected forest reserves to enable a large-scale tree planting initiative by Seplat Energy Plc.

This is in furtherance to the Seplat Tree4Life Initiative and the Edo State Government’s identification of the need to increase forest cover and carbon sequestration efforts within the region.

Seplat Energy has been selected as the partner to implement this reforestation project, which aims to plant millions of indigenous trees on the allocated land over the next five (5) years. This project represents a significant investment in environmental conservation and sustainable development for the state.

Speaking at the agreement signing ceremony, which happened in Edo State Government House, the Managing Director, Seplat West Limited, Seplat Energy, Ayodele Olatunde, said the partnership will contribute in the global efforts around mitigating the effects of climate change, whilst providing economic, social, health and other environmental benefits to the region.

“This will stir more advocacy as far as climate change is concerned and put the Edo State Government with the Seplat JV on the map as change agents. The partnership is well aligned with our Tree4Life Initiative and has the capacity to boost our economy and the environment; advance our soil health and drive carbon capture; preserve our ecosystem; enhance biodiversity; create jobs; conserve our forests; and promote physical and mental wellbeing of our people,” Olatunde said.

The Commissioner for Environment & Sustainability, Edo State, Joshua Omokhodion, said the synergy between Edo State and the Seplat JV is a huge attempt at mitigating the impacts of climate change in Nigeria. “Beyond the economics of this move, the science of it is very important to us because it is an attempt to deliberately create an ambience that will be conducive for humans and other creatures here.”

The Director, External Affairs & Social Performance, Seplat Energy, Chioma Afe, in her address, thanked the Edo State Government for partnering with the NEPL/Seplat JV on this sustainable journey of reforestation. She said: “This will drive forward our shared goals of environmental conservation and sustainable land use.

“These 6,000 hectares of land being allocated today, we believe, will provide a major boost to efforts at increasing tree cover and also to sequester carbon in our region. We believe also that this will not only tackle climate change, but will promote the local economy as well as local wildlife. The agreement demonstrates the NEPL/Seplat JV strong commitment to supporting impactful environmental projects.

The Managing Director, NEPL, Nicolas Foucart, represented by Mr. Uzoma Ezulu, DM Operations Management Seplat, NEPL, said the partnership between the state government and NEPL/Seplat JV is a laudable response to the global warming crisis. “The world is turning around for the worst; human activities in the name of development have done more harm than good to the environment. The Tree4Life project, therefore, is a conservative effort for all of us,” he said. Teasoo Consulting Limited was also among the facilitators of the agreement signing ceremony.