Peter Ikenga: Nigeria’s Power Sector Needs Self-sustaining Investment.
Peter Ikenga, has said Nigeria’s power sector needs self-sustaining investment across its value chain to improve power supply, stating that the Managing Director/Chief Executive Officer of Transcorp Power Plc, Engr.
Ikenga spoke recently in Lagos as a panelist at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact.” He said Transcorp Power, one of the two power portfolio subsidiaries of Transcorp Group, will continue to sustain generation, invest in its plant and deliver value to shareholders despite a challenging operating environment.
“Transcorp Power is a long-term player, not a short-term player,” Ikenga said.
“This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress.” According to him, the company’s focus on efficiency and investment underpins its contribution to the country’s power supply. “We run a highly efficient operation, and we have made significant investments to increase our available capacity, because we understand the value power has for development, progress and prosperity in Nigeria and West Africa.” Ikenga noted that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power has grown available capacity four folds. Transcorp Power became the first privatised power generation company to receive a post-privatisation discharge certificate for fulfilling all its privatisation obligations. He said this discipline is reflected in the company’s unaudited results for the nine months ended 30 September 2026.
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