News
NITDA Launches 4th Edition of Service Charter and iServe Emblem to Improve Service Delivery
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Director General of NITDA, Kashifu Inuwa CCIE while launching the Charter and the Emblem, stressed that there is a need to efficiently align with the objectives of NDEPS and SRAP to make the Agency a high-velocity organisation with excellent service delivery culture to the public.
While recalling NITDA’s holistic transformation in the last three years, Inuwa stated that a lot have been achieved in line with the vision, mission and core values of the Agency.
He said that, the NITDA Service Charter and iServe Emblem are to resolve the contemporary issues and change the way things are being done for the advancement of the nation’s digital economy.
“If we want to satisfy our customers, we need to innovate and find new ways to deliver our services. If we continue to do things the same way, we will never be able to meet their expectations.”
“We strive to meet the highest standards of customer service, which means meeting our customers’ expectations and earning their loyalty, and we are always looking for ways to improve to meet the standard of the US and UK.”
“We always use the well-known and globally standard frameworks, We adopt and adapt them, tailor them to our situation, not just copy something from somewhere and say we use it here, as a way of professionalism,” he added.
While making her remark, the National Coordinator of SERVICOM, Mrs. Nnenna Akajemeli acknowledged the various milestones and relentless efforts of the Agency towards the success of SERVICOM. She urged the Agency to do more in delivering services to the citizens.
She stated that SERVICOM, an initiative of the Federal Government conceived to promote effective and efficient service delivery in MDAs, is to ensure customer satisfaction and manage the performance-expectation gap between Government and citizens.
Additionally, she said, SERVICOM is the Customer Arm of the Government that seeks to provide solutions to service delivery gaps in the public sector, focusing on the quality of contact between service providers and Service customers.
Akajemeli encourages the Agency, through its SERVICOM Committee to foster collaboration among both internal (Internal Departments and Units) and national (States & Zonal Offices) SERVICOM Committees towards ensuring more citizen-focused service delivery across the country.
“SERVICOM Office believes that if the service standards stated in the Charter are implemented, monitored and performance is reported, the Agency would be repositioned to function optimally thereby ensuring that all customers are served right, which requires the commitment of all of us from the front desk to top Management staff, to ensure that quality service is provided for the benefit of all citizens at all times.
The Head SERVICOM Unit at NITDA, Mrs. Tariundu Ndoni appreciated the Director General and management of the Agency for the opportunity to contribute towards services delivery to the public.
She said iServe is an innovative effort to institutionalise excellent service delivery culture within Agency and demonstrates how NITDA, as an organisation, can transform itself to better serve customers and meet stakeholder expectations for digital technology.
Ndoni further stated that the iServe slogan “We exist to serve” is aimed at ensuring that the Agency continue to put people first, and adhere to the overarching framework.
While elaborating the iServe Slogan, Ndoni said “We means – we are part of the Public Service working collaboratively with interested partners; and Exist – the Agency was established and continues to exist as the regulator for the IT sector needs of government, while To Serve – our customers, all citizens with an excellent service.
News
Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion
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.
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
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.
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