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Transcorp Hotels posts N97bn revenue in 2025, declares N1.30 final dividend

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Transcorp Hotels Plc has reported strong financial performance, posting N97bn in revenue for the 2025 financial year, a 38 per cent increase over the previous year.

At the 12th annual general meeting held in Abuja on Thursday, Chairman of the company, Awele Elumelu, said the hospitality firm entered 2026 on a solid footing following what she described as a successful year.

“So for Transcorp Hotels PLC, 2025 was actually a good year. We’ve entered 2026 quite strongly. We ended the year with a profit of 97bn, which was a 38% increase on the preceding year. And even profit as well, that was our revenue. We’re very happy to be going into the new year,” she said.

She added that the company rewarded shareholders with an improved dividend payout.

“And we’re very pleased that this year we’ve been able to give our shareholders shares of N1.30 kobo per share as the final dividend,” Elumelu stated.

According to her, the company’s performance reflects a combination of shareholder support, effective management, and strong corporate governance.

“So we know actually we’ve been able to delight our shareholders. But we thank them at the same time for their support because it’s through their support and through their encouragement and all the advice that they tend to give us at sessions like this and give the management. And through the hard work and commitment of the management, we’ve been able to do that. So that’s what we’ve been able to do with regard to shareholding.”

Elumelu highlighted brand strength and operational efficiency as key drivers of growth.

“We have a strong brand, and this has worked very well for us, and it continues to improve. We’ve had our management team, they’ve increased their operational efficiency.”

She also noted efforts to diversify the company’s offerings, including the development of a major events facility.

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“We’ve also done some work in diversifying what we have. Just in 2025, we built and set up the Transcorp Event Center, which is a multifunctional center, which has a capacity of 5,000. We’ve had lots of big events in 2025, including the Afrexim event, which took up to 4,000 dignitaries from out of state.

“So that has played a major role in that. We’ve also had things like improving our digital technology and improving customer service generally. You can see from our rooms that we’ve seen a lot of digital improvements, from check-in to room service, and of course, our staff.

“We’re blessed with great staff, and so these are some of the things that have led to improvements in revenue.”

Looking ahead, she expressed optimism about the company’s prospects for 2026, including expansion plans.

“For 2026, the board is convinced and is confident that we will do better. Our management team is in line as well, and we just want to build on what we’ve been doing. We want to build on the brand that we’ve had.

“We want to build on investing in infrastructure, investing in technology, and investing in diversifying. We’re looking at setting up a branch in Lagos. We’ve been on this for a while. So this is also another avenue. And all this on the bedrock of good corporate governance, because we pride ourselves on being able to ensure that we carry out good corporate governance.”

Also speaking, the Managing Director of the company, Uzoamaka Oshogwe, said total dividend payout for the year stood at about N13 billion.

“Dividend in total is 13 billion. Because last year we paid, 10kobo, and then this year, that final dividend was 1 naira 20 kobo. So in total that was just slightly over 13 billion.”

On business performance in the new year, she said occupancy rates had picked up strongly after a slow start in January.

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“January is kind of slow, but it’s been good. Our occupancy since the middle of January has been about 100%.”

Oshogwe disclosed that the company is collaborating with the Transcorp Group to address energy costs and sustainability concerns.

“Transcorp is known for hospitality, and we invest in hospitality and also in power. So what we’re doing is that we’re partnering with Transcorp Power to ensure that we begin to explore other options for cheaper power. One of the ones that we’ve actually implemented towards the end of last year was the dual gas burner.

“So that’s actually using gas to generate power. So all of our boilers, so if you think about the number of boilers we have in 667 rooms, that are powered by gas. So that not just saves us costs, it’s also very friendly to the environment.

“And then we’re also working with Transcorp Energy, and we’re looking at renewable energy. And that is also, what brings to mind the sustainability and the ESG factor into our operations.”

She added that capital allocation would be guided by projects capable of delivering multiple returns.

“We are putting in our money, where we can have multiple capital appreciations. So that is quite intentional, because funds are limited. So you must ensure that whatever projects you actually put your funds in have that multiplying effect in revenue generation.”

According to her, the company’s strategy for 2026 will focus on operational excellence, technology investment, and brand relevance.

“And then the second one is operational excellence. We started this last year. And that is just investing in our people and also in technology.

“So those are the two key areas that we’re actually going to pinpoint our operational excellence in. And then number three is brand relevance. Brand relevance is all about people beginning to understand what our brand stands for and equating that into sustainability in our growth.

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“So those are the three key areas that we’re going to be concentrating on this year to ensure that we sustain the revenue growth, and we also multiply it. Because one of the shareholders, first of all, started by saying 100 billion. And I said, we are already there,” she concluded.

The company reported a profit before tax of N22.613bn for the year ended December 31, 2024, representing an impressive 138.48 per cent year-on-year growth. It also declared a final dividend of N0.64 per share, bringing the total dividend for the year to N0.74, including the N0.10 interim dividend previously paid.

Despite cost pressures, the company maintained solid margins. Although the cost of sales grew faster than revenue, gross profit margin remained strong at 70.89 per cent. Room sales, with an 84.5 per cent margin, remained the most profitable segment, while food and beverages, at 42.9 per cent, operated with comparatively tighter margins. Operational expenses increased during the year, largely driven by energy costs, which surged from N2.425 billion in 2023 to N4.763 billion.

On the balance sheet, total assets grew by 11.58 per cent to N140.696 billion, reflecting continued expansion. Total borrowings declined by 22.12 per cent, reducing financial leverage, while interest expenses fell 10.21 per cent year-on-year to N2.798 billion.

This improved the company’s interest coverage ratio to 9.30 times from 4.22 times in 2023, indicating that operating profit comfortably covered interest obligations. Shareholders’ funds also rose by 20.54 per cent year-on-year, supported by strong earnings growth and retained profits, further strengthening its financial position.

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Oshiomhole seeks ban on MTN, DSTV, read why

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The senator representing Edo North, Adams Oshiomhole, on Tuesday called for the revocation of licences of South African companies operating in Nigeria, including MTN and MultiChoice, owners of DSTV, following renewed xenophobic attacks against Nigerians in South Africa.

The call came as the National Assembly condemned the latest wave of attacks, urging the Federal Government to take immediate diplomatic and protective measures to safeguard Nigerian citizens abroad.

Speaking during plenary, Oshiomhole said Nigeria must respond firmly, invoking the principle of reciprocity in international relations.

He said, “I don’t want this Senate to be shedding tears, to sympathise with those who have died. We didn’t come here to share tears.

“If you hit me, I’ll hit you. I think it is appropriate in diplomacy. It’s an economic struggle.”

The former Edo State governor proposed that Nigeria should nationalise MTN and withdraw its operating licence, arguing that the company repatriates significant revenue while Nigerians face hostility in South Africa.

“This Senate should adopt a position that MTN, a South African company that is cutting away millions of dollars from Nigeria every day, should have Nigeria nationalise it and withdraw its licence,” he said.

According to him, such action would not only serve as a deterrent but also create opportunities for indigenous firms, amid what he described as economic and social targeting of Nigerians abroad.

He extended the call to MultiChoice, urging the Federal Government to revoke DSTV’s licence over alleged exploitative practices.

“I call on the Federal Government to revoke DSTV, which is also a South African company that is cutting away millions of dollars,” he said.

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Oshiomhole linked the recurring tensions to domestic political dynamics in South Africa, noting that anti-immigrant rhetoric had become a feature of its politics and was shaping public attitudes toward foreign nationals, including Nigerians.

“When we hit back, the president of South Africa will go on his knees to recognise that Nigerians cannot be intimidated,” he said.

The senator made the remarks while contributing to a motion sponsored by Osita Izunaso, which was read on the floor by Aniekan Bassey under Senate rules on matters of urgent public importance.

Titled “A call for urgent national diplomatic and humanitarian action to defend the dignity, safety and honour of Nigerian citizens,” the motion highlighted growing concerns over the safety of Nigerians in South Africa.

Also speaking, Senator Victor Umeh described the situation as alarming, warning that Nigerians were living in fear.

“It is worrisome. They are hiding for their lives. They can’t move freely. This is a situation where people are paying good with evil,” he said, referencing Nigeria’s historical support for the anti-apartheid struggle.

Umeh called on the African Union to intervene and impose sanctions, warning that Nigeria could no longer tolerate attacks on its citizens.

“The AU, of which South Africa is a member, should rise now and impose necessary sanctions,” he said, adding that “we cannot allow this to continue.”

Oshiomhole, however, doubled down on calls for economic retaliation, arguing that Nigeria must move beyond rhetoric.

“I don’t want this Senate to be shedding tears to sympathise with those who have died. We didn’t come here to shed tears. I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

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He further argued that Nigerians should take advantage of opportunities in the local economy, currently dominated by foreign firms.

Senator Abdul Ningi warned South Africans over recent attacks on Nigerians, threatening that the country would take the fight to their territory.

“If a crime has been committed under the South African law, they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that.

“If these things continue, we have alternatives, we have options, and therefore, these words should be sent across South Africa. We know where South Africans are, not only in Nigeria but all over Africa, and we can take this fight to their territory,” he said.

Speaking, the Senate President, Godswill Akpabio, decried the attack, adding that the National Assembly would send a joint team to meet with the South-African parliament on the matter.

“This is just not acceptable, this is barbaric, this is cruel, this is unheard of, this is strange behaviour, and we’re not seeing action from the government of South Africa. These are aspects that annoy me,” Akpabio said.

The development underscores mounting pressure on the Federal Government to adopt a tougher stance, as recurring xenophobic violence in South Africa continues to strain diplomatic relations and provoke calls for both economic countermeasures and stronger protections for Nigerians abroad.

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Naira gains, trades 1,365/$ at official FX market

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…NFEM rate — N1,365.2474/$

…Naira strengthens by at least N9

…Black market (Buying and selling rates) — N1,390 — N1,400

The Nigerian naira strengthened against the United States (US) dollar, trading at N1,365.2474 at the Central Bank of Nigeria (CBN) official foreign exchange window on Monday, 4th May, 2026.

According to the data shared on the official platform of the Central Bank of Nigeria (CBN), the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,365.2474 per dollar and closed at N1,367.5000 per dollar.

Tribune Online reports that the Nigerian currency traded at an NFEM rate of N1,374.9431 on 30th April 2026, which was the previous trading date. Comparing this with the trading rate on Monday, the naira strengthened by at least N9.

At the parallel market, the naira-to-dollar buying rate decreased by N3, while the selling rate increased by N2, compared with the previous trading rate on 30th April, 2026.

According to Aboki FX, the Naira-to-dollar exchange rate at the black market on Monday, 4th May, 2026, was N1,390 for the buying rate and N1,400 per dollar for the selling rate.

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Experts promote rabbit value chain investment

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Experts in animal production have identified rabbit farming as a viable avenue for economic growth, job creation, and improved nutrition in Nigeria.

The experts made this known during a public lecture held at the Bauchi State College of Agriculture on Friday as part of activities marking Rabbit Appetite Day.

Speaking at the event, a registered animal scientist and lecturer at the Federal Polytechnic Damaturu, Sani Muazu, said there was a need to promote both the consumption and commercial production of rabbits across the country.

He described rabbit production as a largely untapped but promising sector capable of contributing significantly to Nigeria’s economy.

“Rabbit farming in Nigeria is still underdeveloped, with only about three to five per cent of the population engaged in the enterprise, mostly at small-scale family levels where farmers keep an average of two to seven breeding females. Despite this, the sector offers vast opportunities for expansion and commercialisation,” he said.

Muazu noted that rabbits are highly productive animals, with a gestation period of about 30 days and the capacity to produce up to 20 or more offspring annually.

He added that their low feeding and housing requirements make them suitable for students, smallholder farmers, and urban residents seeking alternative sources of income.

According to him, rabbit production extends beyond farming to other economic activities such as breeding, feed supply, veterinary services, processing, and marketing.

He also highlighted the nutritional value of rabbit meat, describing it as rich in protein, low in fat, and suitable for addressing protein deficiency in the country.

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On environmental sustainability, Muazu said rabbits require less land and water and emit fewer greenhouse gases compared to larger livestock, making them suitable for climate-smart agriculture, particularly in semi-arid regions.

However, he identified low public awareness and high mortality rates among young rabbits as major challenges hindering the sector’s growth.

He urged students and youths to take advantage of opportunities in rabbit farming by starting small-scale ventures that could grow into profitable agribusinesses, while calling on government and private sector players to invest in the development of the rabbit value chain.

In his remarks, the Provost of the Bauchi State College of Agriculture, Dr Ahmed Isah, described the event as timely and impactful, noting that it would encourage students to embrace self-employment through agriculture.

“Such initiatives are critical in addressing unemployment. Graduates can become employers of labour through ventures like rabbit farming,” he said.

He also encouraged members of the public to engage in rabbit production, describing it as a profitable and easy-to-start enterprise with the potential to improve livelihoods and boost the nation’s economy.

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