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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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Breaking: Universities adopt 150 as cut-off mark for 2025/2026 admission and sets admission age at 16, Says Alausa

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Vice Chancellors of Universities in the country have adopted 150 as the minimum cut-off mark for 2025/2026 admission.

The decision was reached in a voice vote supervised by the Registrar of the Joint Admissions and Matriculation Board (JAMB), Prof. Is-haq Oloyede, on Tuesday at the ongoing policy meeting on admission in Abuja.

At the meeting, the minimum cut-off point for admission into polytechnics was pegged at 100, while the colleges of education and agriculture adopted 100 as the entry point.

Colleges of nursing adopted 140 as the entry point for admission

The Federal Government has formally set 16 years as the minimum age for admission into Nigeria’s tertiary institutions.

Minister of Education, Dr. Tunji Alausa, announced this on Tuesday during the 2025 Policy Meeting of the Joint Admissions and Matriculation Board held in Abuja.

Alausa, while declaring the meeting open, emphasised that the age benchmark is now official and non-negotiable. He warned that any admission carried out outside the Central Admissions Processing System would be considered illegal.

The minister further stated that heads of institutions found culpable of admission fraud or circumventing CAPS would be prosecuted in accordance with the law.

The annual policy meeting sets guidelines for the conduct of admissions into universities, polytechnics and colleges of education for the coming academic session

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“We’re Removing All Bottlenecks To Improve Food And Agric Production In Nigeria, Says Tinubu To Brazilian Leader”

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President Bola Tinubu on Saturday assured his Brazilian counterpart, Luiz Inacio Lula Da Silva, that he is working to remove all bottlenecks hindering Nigeria’s agric sector boom, especially bureaucracy, which he said contributes to delays in realising the sector’s potential.

He said this will enable food sovereignty and export for the country in areas such as livestock production.

Tinubu said this in a bilateral meeting held at the Copacabana Forte with the Brazilian president and some members of both countries’ cabinets.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, revealed this in a statement he signed Saturday night titled ‘We’re Removing All Bottlenecks To Improve Food And Agric Production In Nigeria, Says President Tinubu To Brazilian Leader.’

“The President informed the Brazilian leader and delegation that Nigeria was already undergoing reforms to reposition the economy for global competitiveness, particularly in agriculture, where it already has a competitive advantage.

“Tinubu stated that all technicalities in agreements between the two countries will be streamlined and fast-tracked in trade, aviation, energy transition, food and agricultural development, mining, and natural resources exploration”, the statement partly read.

He added that Brazil’s research and development services had been exemplary for most countries, with the country rated as one of the highest producers of food and agricultural products.

“On livestock farming, Tinubu highlighted the efforts of his administration to boost investments in poultry, cattle rearing, and fisheries, adding that the blue economy also holds potential for long-term partnerships between Nigeria and Brazil. He argued that Nigeria was ready for a strong partnership and immediate action to stimulate food production.

“The President said the subnationals have a pivotal role in food and animal production in Nigeria by complementing the federal government’s efforts to use agriculture as a significant source of employment and resource mobilisation. Lula assured that all agreements with Nigeria would be regularised, and the MOUs would be updated and signed without delay during President Tinubu’s next visit.

“He noted that the lingering bureaucracy between the two countries must be removed to achieve quick results, adding that Brazil’s research and development institutions will collaborate with Nigeria to enhance livestock farming. The Minister of Agriculture, Senator Abubakar Kyari, revealed that Tinubu had consistently insisted on food security for Nigeria, and the mandate would be actualised through local and global partnerships. He added that Nigeria already had a competitive advantage in fertiliser production that could easily be enhanced, “he said.

The Minister of Livestock Development, Idi Maiha, highlighted three areas of partnership with Brazil, including health and disease management, sanitary services, and research into genetic materials and new breeds.

The governors of Benue State, Hyacinth Alia; Ogun State, Prince Dapo Abiodun; Niger State, Mohammed Umar Bago; Delta State, Sheriff Oborevwori; and Lagos State, Babajide Sanwo-Olu, attended the bilateral meeting.

The Governor of Ogun State, Dapo Abiodun, said that the sub-nationals would support the federal government’s framework to revamp the agricultural sector.

Abiodun noted that both leaders’ decision to include a business forum during President Tinubu’s state visit to the country will inject fresh ideas and resources, enabling quick results in turning around Nigeria’s agricultural sector.

The Minister of Foreign Affairs, Yusuf Tuggar, and the Director General of the National Intelligence Agency, Mohammed Mohammed, also participated in the bilateral meeting.

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BREAKING: Tinubu signs Tax Reform bills into law

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President Bola Ahmed Tinubu has signed the four tax reform bills into law.

President Tinubu signed the law in his office at the State House, Abuja, on Thursday, in the presence of relevant stakeholders from across the arms of government.

The new laws include the Nigerian Tax Law, the Nigerian Tax Administration Law, the National Revenue Service (Establishment) Law and the Joint Revenue Board (Establishment) Law.

Earlier on Thursday, President Tinubu had explained that the laws would be unifying Nigeria’s fragmented tax system, removing redundant overlaps, boosting investor confidence, enhancing transparency, and promoting coordinated efforts across all levels.

He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.

On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.

 

“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser-focused on unlocking opportunities for all.”

 

The Nigerian Leader explained that with the new tax reform laws, the Bola Tinubu-led Administration is now laying the foundation for a tax regime that is fair, transparent and fit for a modern, ambitious Nigeria.

“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.

“For too long, our tax system has been a patchwork-complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.

“We are laying a foundation for a tax regime that is fair, transparent and fit for a modern, ambitious Nigeria. A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity”, he said.

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