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Shareholders laud Transcorp Hotels Plc for Impressive performance, approve 15k per share as dividend

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 Chairman, Transcorp Hotels Plc, Mr. Emanuel Nnorom; Managing Director/CEO, Mrs Owen Omogiafo; and Executive Director, Ms Okaima Ohizua; at the 5th Annual General Meeting of the company held at Transcorp Hilton Hotels Abuja on Friday


Chairman, Transcorp Hotels Plc, Mr. Emanuel Nnorom; Managing Director/CEO, Mrs Owen Omogiafo; and Executive Director, Ms Okaima Ohizua; at the 5th Annual General Meeting of the company held at Transcorp Hilton Hotels Abuja on Friday

Executive Director, Transcorp Hotels Plc, Ms Okaima Ohizua; Managing Director/CEO, Mrs Owen Omogiafo; Chairman, Mr. Emanuel Nnorom; Company Secretary, Ms Helen Iwuchukwu; and Director/President of Transcorp Plc, Mr. Valentine Ozigbo, at the 5th Annual General Meeting of the company held at Transcorp Hilton Hotels Abuja on FridayAbuja, Nigeria, March 15, 2019 – The Shareholders of Africa’s leading hospitality brand, Transcorp Hotels Plc, have extolled the Company for its impressive financial results for the year ended December 31, 2018. The congratulatory remarks were made at the Company’s 5th Annual General Meeting, which took place at the Congress Hall of the iconic Transcorp Hilton, Abuja.

Following the company’s 26% increase in turnover, the Shareholders have unanimously endorsed a final dividend of ₦1.14bn for the 2018 financial year. The final dividend translated to 15kobo per ordinary share, which is a 20% improvement over the 12kobo per ordinary share for 2017.

Speaking on the Company’s growth milestones, Chairman of the Board of Directors, Mr. Emmanuel N. Nnorom said “Transcorp Hotels Plc has exceeded the bar with an impressive turnover of ₦17.4billion from ₦13.8billion recorded in 2017, representing an improvement of 26%. This is an unprecedented achievement in the history of the Company. It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.” The Chairman also thanked the Shareholders for their continued support and faith in the Board and Management of the Company.

Commending the company for its overall performance, Patrick Ajudua, President, New Dimension Shareholders Association said that Transcorp Hotels Plc is an embodiment of what privatisation in Nigeria should be. He further stated that good Corporate Governance and the presence of a focused Management team who are concerned with giving returns to shareholders are some underlying factors behind the company’s continued success.

The Managing Director/CEO, Mrs. Owen Omogiafo reiterated the company’s commitment to quality and global standard customer experience, drawing on the varied international awards conferred on the Company. She said “We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this.”

On the prospects for 2019, Mrs. Omogiafo noted that “Transcorp Hotels will continue to leverage on its unique value proposition and proven strategies to exceed 2018 performance.” She further said that growth and efficiency underpinned by a strong culture of service excellence and cost optimization will drive the company.

About Transcorp Hotels Plc

Transcorp Hotels Plc (“Company”) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc. The Company owns and operates the multiple award-winning Transcorp Hilton Abuja, which provides luxury accommodation, world-class cuisines, conferencing and leisure facilities to business travelers and tourists from all over the world. The Company also holds 100 percent interest in the iconic Transcorp Hotels Calabar Limited, which owns and operates the Transcorp Hotel in Calabar.

More information can be found at www.transcorphotels.com and/or www.abuja.hilton.com

Instagram and Facebook: @transcorphotelsplc

Twitter: @transcorphotels

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Gbajabiamila Endorses Hamzat, Says Lagos Is in Safe Hands

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The Chief of Staff to President Bola Ahmed Tinubu, Femi Gbajabiamila, has assured Lagos State Deputy Governor, Kadri Obafemi Hamzat, of his support in securing the All Progressives Congress (APC) governorship ticket ahead of the 2027 election.

Gbajabiamila, a former Speaker of the House of Representatives, gave the assurance on Sunday, describing Hamzat as competent and well-suited to lead Lagos State.

He stated that the state would be in safe hands under Hamzat’s leadership.

Hamzat had visited Gbajabiamila at his Surulere residence in Lagos as part of consultations with party stakeholders over his governorship ambition.

Responding, Gbajabiamila commended Hamzat’s capacity and approach, expressing confidence in his ability to govern the state effectively.

“Dr Hamzat, you are a man of honour, and it shows in your approach to consultations. But I say this publicly—you can take my support for granted because I have full confidence in your ability and capacity. My constituency, Surulere, is for you, and Lagos is for you,” he said.

In his remarks, Musiliu Obanikoro, a member of the Governor’s Advisory Council (GAC), briefed the host on the extent of consultations carried out so far.

“I can confidently inform the Chief of Staff that the level of endorsement has been overwhelming,” he said.

Other members of the delegation included the Secretary of the GAC, Alhaji Muti Are, Senator Ganiyu Olanrewaju Solomon, Hon. Bode Oyedele, Engineer Adekunle Olayinka, Dr. Hakeem Shittu, Hon. Saheed Kekereekun, Dr. Jebe, and Hon. Rasaq Ajala, among others.

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KOGI STATE STRENGTHENS CHINA PARTNERSHIP FOR AGRO-INDUSTRIAL DEVELOPMENT AND SAPZ IMPLEMENTATION

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Kogi State has taken a significant step in advancing its international partnerships aimed at accelerating the implementation of its Special Agro-Industrial Processing Zone (SAPZ) programme.

The SAPZ initiative is a strategic agro-industrial platform designed to boost food production, enhance processing capacity, create employment opportunities, attract private sector investment, and position Kogi State as a leading agricultural and industrial hub in Nigeria.

Central to the engagement is the development of a modern agricultural science and technology industrial park in Kogi State. The project aligns with the broader SAPZ framework and is expected to drive agro-processing, facilitate agricultural technology transfer, support equipment deployment, promote enterprise incubation, strengthen logistics and cold chain systems, enhance export infrastructure, and provide sustainable power solutions.

The Kogi SAPZ structure comprises the Ajaokuta Agro-Industrial Hub, alongside Agricultural Transformation Centres in Anyigba, Alape, and Osara, as well as the Zariagi Agro-Air Hub. The programme is designed to integrate existing farmer clusters with an additional 150,000 hectares of farmland per zone, creating opportunities for large-scale, tenant-driven agricultural production.

Priority value chains under the SAPZ include rice, maize, cassava, livestock and poultry, sesame, cashew, oil palm, and greenhouse farming. The programme also incorporates critical support systems such as warehousing, cold chain logistics, power solutions, compressed natural gas (CNG), agricultural technology, equipment deployment, and agro-export infrastructure.

As part of this effort, Kogi State entered into a strategic cooperation agreement with Hezheng Holdings Group and Hezheng Digital Technology (Hezheng Innovation Valley) Co., Ltd. The agreement marks a transition from conceptual planning to implementation and reflects the State’s deliberate strategy to attract credible technical partners, industrial park operators, investors, and global business platforms into the SAPZ ecosystem.

The Kogi State delegation was led by Alhaji Yakubu Okala, FCA, Auditor General of Kogi State and Project Investment Adviser, who represented His Excellency, the Executive Governor of Kogi State. Other members of the delegation included the Honourable Commissioner for Agriculture, Hon. Ojomah Timothy; Technical Adviser to the Governor’s Office, Dr. Abdullahi Ozomata; Chief Economic Adviser to the State, Alhaji Aliyu Inda Salami; and Project Consultant/Managing Director of Pulse Engineering and Consulting Limited, Mr. David Lekan Obatolu.

During the visit, the delegation toured key Hezheng facilities, including its investment promotion centre, agricultural industry exhibition hall, global launch hall, and live-streaming incubation base. The tour provided valuable insights into Hezheng’s industrial park management model, enterprise support systems, agricultural technology integration, and cross-border market development strategies.

Deliberations between both parties focused on actionable implementation areas such as industrial park development, technology transfer, processing infrastructure, enterprise incubation, park management systems, investment mobilisation, and equipment deployment. Discussions also explored frameworks for establishing a structured and sustainable China–Kogi industrial cooperation platform.

Both sides expressed strong alignment on the project vision and implementation roadmap. In the coming months, technical and commercial workstreams will be advanced towards full project mobilisation, including preparatory activities for groundbreaking and the establishment of coordination offices in China, Kogi State, and Abuja.

This engagement underscores the commitment of the Kogi State Government to transitioning the SAPZ programme from planning to execution, while positioning the State as a competitive destination for agro-industrial investment.

Kogi State remains resolute in its vision to build a bankable and investment-ready agro-industrial ecosystem that will enhance food security, promote value addition, create jobs, strengthen farmer-market linkages, support export growth, and unlock new economic opportunities for its people.

 

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Rebuilding the North-East: Inside Nigeria’s Largest Post-Conflict Recovery Experiment

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How the NEDC is attempting to turn years of devastation into a pathway for long-term development

By Michael Olukayode

For more than a decade, Nigeria’s North-East has remained a symbol of prolonged conflict and humanitarian collapse. The insurgency led by Boko Haram and its breakaway factions did far more than disrupt security—it dismantled entire communities, shattered economic systems, and altered the social and cultural foundations of a region once anchored by farming and cross-border trade.

The human cost has been staggering. More than 350,000 people are estimated to have died directly and indirectly from the conflict. Over 2.5 million individuals were forced from their homes, while at the height of the crisis, about 8.4 million people required urgent humanitarian support. Entire settlements across Borno, Adamawa, and Yobe were destroyed, leaving behind a region marked by displacement and ruin.

A System Built from Collapse

The scale of destruction prompted the establishment of the North-East Development Commission (NEDC) in 2017 under former President Muhammadu Buhari. It was created not simply as a relief agency, but as a long-term institutional response to structural breakdown across an entire region.

Early post-conflict assessments placed the cost of destruction at over $9 billion. Infrastructure losses were extensive: thousands of homes were destroyed, more than 1,400 schools were damaged or completely wiped out, and in some areas over 70 percent of health facilities became unusable. The agricultural sector—long the backbone of the regional economy—collapsed almost entirely, deepening poverty and food insecurity.

To coordinate recovery, the Commission was tasked with implementing the North-East Stabilisation and Development Master Plan (NESDMP), a blueprint designed to move the region from emergency humanitarian response into structured reconstruction and sustainable development.

From Emergency Response to Large-Scale Reconstruction

Since beginning operations, the NEDC has implemented interventions worth hundreds of billions of naira, funded through federal allocations and supported by development partners.

Its activities span all six states of the region—Borno, Adamawa, Yobe, Bauchi, Gombe, and Taraba—where thousands of projects have either been completed or are ongoing.

Across its portfolio, the Commission has:
• Built and rehabilitated thousands of housing units for displaced families
• Executed more than 1,000 infrastructure projects, including roads, schools, and healthcare centres
• Distributed millions of relief items during peak humanitarian emergencies
• Supported agricultural programmes reaching hundreds of thousands of farmers

The Managing Director/Chief Executive Officer of the Commission, Mohammed Goni Alkali, explained that the institution is now deliberately evolving its focus.

“We are transitioning from humanitarian interventions to sustainable development,” he said. “The priority is building systems that can endure beyond immediate recovery.”

He added that reconstruction must be understood beyond physical structures.

“It is not only about rebuilding infrastructure. It is about restoring livelihoods, rebuilding institutions, and restoring hope to communities,” Alkali said.

Gradual Return to Normalcy Across Communities

On the ground, signs of recovery are beginning to emerge across the region, though unevenly.

Large numbers of internally displaced persons have started returning to reconstructed communities, easing long-standing pressure on overcrowded camps. Schools that were destroyed or abandoned during the peak of the insurgency are being rehabilitated and reopened, restoring access to education for thousands of children.

Healthcare delivery has also improved, with rebuilt and newly equipped facilities expanding access, particularly in rural areas that were previously cut off. Road reconstruction projects are reconnecting isolated communities, improving movement, trade, and access to services.

The Governor of Borno State, Professor Babagana Umara Zulum, acknowledged the role of the Commission in supporting recovery efforts.

“The NEDC has played a critical role in supporting the rebuilding of communities and restoring hope to our people,” he said.

Restoring the Economic Lifeline

Before the insurgency, agriculture was the dominant economic activity in the North-East, employing a large portion of the population. The conflict disrupted farming cycles, displaced rural communities, and left vast tracts of farmland abandoned.

Recovery efforts are now focusing on reversing that collapse. Through the distribution of seeds, fertilisers, and farming equipment, as well as investments in irrigation and dry-season farming, agricultural production is gradually resuming. Small businesses and cooperatives are also receiving support to stimulate local economies.

According to Alkali, economic recovery remains central to the Commission’s strategy.

“Without livelihoods, recovery cannot be sustained,” he said. “Economic empowerment is therefore at the core of our interventions.”

Moving Away from Long-Term Aid Dependence

One of the most significant shifts emerging in the region is the gradual transition from humanitarian dependency to self-reliance.

Although millions of people still require assistance, returning communities are increasingly rebuilding their own economic and social systems as stability improves.

Former United Nations Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, noted that recovery efforts are beginning to produce measurable improvements.

“There is clear evidence that living conditions are improving and that basic services are being restored,” he said.

Security Gains and Lingering Vulnerability

Despite notable progress in stabilisation, the North-East remains fragile. Military operations have significantly degraded insurgent capabilities, but sporadic attacks continue in some areas.

The Chairman of the Governing Board of the NEDC, Major General Paul Tarfa (rtd.), stressed that development must consolidate security achievements.

“Security gains must be reinforced with development initiatives. Only then can we achieve lasting peace,” he said.

Persistent Gaps in the Recovery Process

Even with extensive interventions, major challenges remain. Millions of residents are still dependent on humanitarian assistance, unemployment among young people remains high, and environmental pressures—including climate-related shocks—continue to threaten agricultural recovery.

In addition, funding limitations remain a key constraint, with the scale of needs far exceeding available resources.

The Managing Director acknowledged these gaps but reaffirmed the Commission’s commitment.

“The level of devastation is enormous, but we are committed to working with all stakeholders to deliver sustainable recovery,” Alkali said.

A Region Still in Transition

The North-East today exists in a complex state between crisis and recovery. It remains one of Nigeria’s most vulnerable regions, but also one of its most ambitious reconstruction theatres.

What is unfolding is a slow transformation: from destruction to rebuilding, from dependency to resilience, and from emergency survival to structured development.

Former United Nations Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, noted that recovery efforts are beginning to produce measurable improvements.

“There is clear evidence that living conditions are improving and that basic services are being restored,” he said.

Observing during his tenure in the country that: “The transition is visible, but sustaining it will require long-term investment and strong collaboration.”

Conclusion: Beyond Reconstruction

The work of the North-East Development Commission goes beyond rebuilding damaged infrastructure. It represents an attempt to reimagine post-conflict recovery at scale—linking humanitarian relief with long-term development planning.

From housing and healthcare to education and livelihoods, the foundations of a new regional reality are gradually taking shape.

Yet, as stakeholders consistently emphasise, the true measure of success will not be the number of projects completed, but whether the region can sustain stability, dignity, and opportunity over time.

In the North-East, the story of recovery is no longer only about survival.

It is about building a future that once seemed impossible—and ensuring it endures.

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