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Transcorp’s Afam To Deliver 1,000MW To National Grid

l-r: Vice President, Yemi Osinbajo; Group Chairman, Transcorp Plc, Mr. Tony Elumelu; President/GCEO, Transnational Corporation Plc, Dr(Mrs) Owen Omogiafo; and, Director General, Bureau of Public Enterprises(BPE), Alexander Okoh, during the commissioning of Transcorp Afam 3 Fast Power 240MW turbines in Afam, Rivers State on Tuesday

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Transnational Corporation Plc (Transcorp Group) is working hard to reduce Nigeria’s power deficit  with the injection of 1,000 megawatts to the national grid through its subsidiaries – Afam Power Plc and Afam Three Fast Power Limited.

The Chairman of Transcorp Group, Mr. Tony O. Elumelu, disclosed this when Vice President Yemi Osinbajo Commissioned  Transcorp’s Afam 240MW Three Fast Power Turbines in Afam, Rivers State.

“We all know the importance of power in Nigeria.  We all experience the consequences of our power deficit – the implications for our people, our businesses, our schools, hospitals, and institutions – our national destiny,” said Elumelu.

He said that Transcorp Group is a key player in the power sector;  we recognise power is the single most critical factor to lifting our people out of poverty and enabling job creation.

” With an already existing power plant residing in Afam, this brings the cumulative generating capacity of the plant to 1,000MW,” he said .

VP,  Osinbajo
At the event, the Vice President lauded the Chairman of Transcorp Group, Tony Elumelu and the entire Transcorp team for yet another power sector investment.

“Afam Three Fast Power is an important part of the evolving story of Nigeria’s aspirations to bring electricity to millions in their homes, factories and businesses that provide their livelihoods. It brings into view the importance of private capital in building up capacity along the power value chain,” said the  Vice President.
Prof. Osinbajo,  said: “A major weakness of our privatisation process has been inadequacy of private investments and new cash injections. But the tide is turning with indigenous power and private investors such as Transcorp Power and Heirs Holdings, making significant investments such as the 100% acquisition of the 966MW installed capacity in Afam Plc and Afam III fast power Limited jointly referred to as Afam Genco.”
Minister of Power.
In his remark, The Minister of Power, Engr. Abubakar Aliyu applauded Transcorp Group for its positive contributions to improving electricity generation in Nigeria.

“What we are celebrating today is an exemplar of the best of Public-Private partnerships. This collaboration has ensured that we are commissioning Afam Three Fast Power today, with a capacity to inject an additional 240MW of electricity into the National grid.”

“At full capacity, it will no doubt provide about 40% of our generated energy today. This is commendable and will certainly improve electricity supply to the nation along with growth of our economy and Gross Domestic Product (GDP)”, Engr. Abubakar said.

DG, BPE
The Director – General of the Bureau for Public Enterprises, Alex Okoh, highlighted the importance of projects such as these in improving access to electricity in Nigeria.

He said “Afam Three fast Power combined with the adjoining Afam Power Plc, will in the next few years add almost 1,000MW of electricity to the national grid.

This will go a long way towards reducing the current power deficit while enhancing access to electricity for millions of private and corporate Nigerians, creating jobs, and ensuring the socio-economic development and well-being of the nation.”

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NACCIMA Set Up Export Express Support Center To Boost Non-oil Exports Trade

Chairman of the NACCIMA Export Group, Kola Awe, said that the initiative was driven by the need to improve export performance, noting that only a small fraction of registered exporters accounts for a significant share of the country’s export value.

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NACCIMA has established an Export Express Support Centre as a practical intervention to simplify export processes and provide direct support to businesses.

At the event, Polaris Bank Plc donated equipment to support the take-off of the centre, a move stakeholders described as critical to building the infrastructure needed for export development.

Chairman of the NACCIMA Export Group, Kola Awe, said that the initiative was driven by the need to improve export performance, noting that only a small fraction of registered exporters accounts for a significant share of the country’s export value.

“The centre is built on knowledge, training, innovation and support. We are not charging anybody for knowledge. It is a platform for exporters to get the information and assistance they need,” said Awe.

Awe explained that the centre would go beyond advisory by offering hands-on support to resolve issues related to logistics, documentation, procurement and regulatory compliance.

NACCIMA National President, Dr Jani Ibrahim,added that the centre was designed as a one-stop hub to guide exporters and strengthen their capacity to compete in regional and global markets.

“It will serve as a one-stop hub providing guidance, tools and technical support to exporters, helping them navigate documentation, meet standards and access new markets with confidence.

“It will serve as a one-stop hub providing guidance, tools and technical support to exporters, helping them navigate documentation, meet standards and access new markets with confidence,” he said.

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Presidency replies Emir Sanusi on “Why are we still borrowing and borrowing?”

Bwala wrote on X, “Your Royal Highness, we are simply borrowing to invest in the critical sectors of our economy, the chiefest of which is INFRASTRUCTURE.
The infrastructure deficit requires a yearly investment of at least $30B-100B, and what we have is insufficient, hence the borrowing “

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Emir of Kano, Muhammadu Sanusi II

The Special Adviser to the President on Policy Communication, Daniel Bwala, on Friday, responded to a question asked by the Emir of Kano, Muhammadu Sanusi II, about a fresh $516 million foreign loan President Bola Tinubu was seeking the Senate ‘s approval to borrow.

Emir Sanusi’s remarks come amid reports that the Federal Government has increased its 2026 borrowing plan by ₦11.31 trillion, pushing total projected borrowing to ₦29.20 trillion.

Speaking during an interview published by News Central TV on Friday, the former Governor of the Central Bank of Nigeria, said : ” We’ve removed the subsidy. We’re now spending it. .. If you’re not paying the subsidy and you’ve got the money, why are we still borrowing and borrowing? What are we borrowing for?”

In response, the presidency stated that the Tinubu administration is borrowing to invest in the critical sectors of the economy, especially infrastructure.

Bwala wrote on X, “Your Royal Highness, we are simply borrowing to invest in the critical sectors of our economy, the chiefest of which is INFRASTRUCTURE. The infrastructure deficit requires a yearly investment of at least $30B-100B, and what we have is insufficient, hence the borrowing “

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Dangote proposes to build refineries in East Africa if …

Dangote made the pledge at the infrastructure summit – the Africa We Build Summit 2026 – on Thursday in Nairobi, Kenya.

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Africa’s leading industrialist and President of the Dangote Group, Aliko Dangote, has said the refinery in Lagos can be replicated in East Africa with the right support.

Dangote made the pledge at the infrastructure summit – the Africa We Build Summit 2026 – on Thursday in Nairobi, Kenya.

The proposed refinery Dangote was referring to would be built in Tanga, Tanzania. A pipeline would be linked to Kenya’s Mombasa port to serve the entire East African region. Kenya, Uganda, and neighbouring eastern African countries would benefit

Dangote said: “I can give commitment to the two presidents that were here; if they will support the refinery, we’ll build the identical one that we have in Nigeria – 650,000 barrels per day.”

The presidents he was referring to are Kenya’s President William Ruto and Uganda’s President Yoweri Museveni.

The proposed refinery Dangote was referring to would be built in Tanga, Tanzania. A pipeline would be linked to Kenya’s Mombasa port to serve the entire East African region. Kenya, Uganda, and neighbouring eastern African countries would benefit.

On the readiness, Dangote said: “There is nothing that can stop it. We have done the one in Nigeria and that’s why we are taking the bold move which was started already. Piling has started, while building to a scale – 1.4 million barrels per day will give us the largest refinery – world number two.

“It is 10% of entire United States of America’s refining capacity.
And this is coming with lot of, you know, petrochemicals. If we look at it today in Nigeria, if not because we have polypropylene, all the plants, all businesses would collapse.

“Cement is packed in polypropylene, flour, rice, grains, everything. So nothing… and the cost now has shot up between just 45 days – from $900 to 3$3,000. There is no way you can afford that. You can’t afford it.

“So, that is why we must learn how to build self-sufficiency. Right now, we have big financial institutions that are very hungry for big ticket items. And we’re also big in terms of our own vision.

“So, it is possible. Africans can do it. Let us not be scared. No. Let us not come and be convinced, as I know somebody needs to carry our own material to go and produce and bring the items here.

“I must really thank the President of Uganda for taking this bold move: stopping the export.

They will be forced. They would come (and) produce. Why do you have to take your material (away), then you’ll bring it back? We have educated people. We have big financial institutions. It’s not like before. Things have changed.”

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