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Transcorp Hotels declares N4.5bn profits
By Joseph INOKOTONG
Transcorp Hotels Plc has announced profit after tax of N4.5 billion at its 3rd Annual General Meeting which took place at Transcorp Hilton Abuja.
According to a statement, the Shareholders at the meeting commended the management and staff of the Company for recording a strong financial and operational performance in the financial year ended 31st December 2016, with improvements across all indices despite the economic recession which took a hefty toll on hospitality businesses generally.
The Shareholders also described the management of the Company as visionary and dedicated, as demonstrated by the Hotel’s constantly improving quality of service.
The Shareholders unanimously approved the Board’s recommendation of a final dividend of 40 kobo per share, stating that they are confident that as the Company continues to make progress, it will not relent in meeting their expectations.
Speaking on behalf of shareholders, Mr. Boniface Okezie, Chairman, Progressive Shareholders Association of Nigeria (PSAN), expressed appreciation to the Company’s Board and Management for paying dividend at a period when the country’s economy is in dire straits, leading to significant drop in hotel occupancy.
He said, “At a time when a lot of companies prefer to cut dividend with a ready excuse in the current state of the economy, we are delighted that our Company has paid dividend which will go a long way in meeting our financial needs”.
Also speaking, Alhaji Muktar Muktar, President, Trusted Shareholders Association, commended Transcorp Hotels for what he termed “a stellar financial performance” amid a challenging period and the dividend payout which he said was equally laudable.
According to Muktar, Transcorp Hotels has not relented on its oars and has continued to shine brightly delivering world class service to an ever growing clientele of top notch guests across the world. Little wonder it has consistently won numerous awards and most recently bagged a long list of honours in 2016 that will make even its competitors go green with envy.
“We are proud of this achievement and encourage the MD and the Board to continue in this direction”. At this point, the shareholders gave a standing ovation to the MD/ CEO for not just winning the Seven Stars 2016 CEO of the Year at a global event, but for also leading Transcorp Hilton to win the Seven Stars Seal of Excellence Award for the first time.
Earlier, Chairman of the Company, Olorogun O’tega Emerhor explained to shareholders that the strong performance recorded by the Company is because the Company continued to re-invent its offerings, in keeping with service excellence.
He noted that the Company was relentless in maintaining market leadership in its flagship property, closing the year with occupancy of 60%, well ahead of competition. This according to him ensured Transcorp Hotels delivered a resilient performance even in the face of the impact of economic recession on the hospitality industry which has seen occupancy for large hotels dropping below 35%.
“2016 was a year of notable achievements for Transcorp Hotels Plc, despite the strong economic headwinds. The upgrade of Transcorp Hilton Abuja is underway in line with our commitment to stakeholders to build Africa’s choice hospitality assets”, Emerhor said.
He noted that, in validation of Transcorp Hilton Abuja as the prime hotel property in Abuja, the Hotel won numerous awards in 2016 and for the fourth year in a row emerged the proud recipient of five prestigious awards at the 23rdWorld Travel Awards; the laurels include Africa’s Leading Business Hotel; Nigeria’s Leading Business Hotel, Nigeria’s Leading Hotel and Nigeria’s Leading Hotel Suite (the Presidential Suite).
The World Travel Award is recognized globally as the hallmark of quality, with winners setting the benchmark to which others aspire. The Hotel also went on to clinch the 2016 Trip Advisor Travelers’ Choice Awards and the 2016 Seven Stars Luxury Hospitality and Lifestyle awards, Emerhor said.
In his review of the 2016 results, the Managing Director/Chief Executive Officer of Transcorp Hotels Plc, Mr. Valentine Ozigbo said that the Company recorded a 10 percent growth in gross revenue at N15.31bn as against N13.98bn in 2015. This according to him was largely driven by key events including visits by very high profile guests, many foreign heads of government and representatives of consulates. All this he said was due to aggressive business development.
He said the Company recorded a Profit Before Tax of N5.24bn in 2016, maintaining 2015 performance of N5.38bn while the Profit After Tax for the year surpassed 2015 performance of N3.5bn by 17 percent to N4.10bn in 2016. “Our major priority now is creating value for our stakeholders, improving customer service for our guests and maximizing shareholder value, and we believe very strongly that the foundation that we are laying, with the current upgrade and refurbishment of the Transcorp Hilton Abuja and repositioning of Transcorp Hotels Calabar is certain to yield very positive results”, he said.
“On this premise, I am happy to add that our turnaround initiatives for Transcorp Hotels Calabar are equally paying off as the Hotel recorded laudable profit for the first time since 2012”. This development, he explained, was predicated on strategy of increasing occupancy and proactive cost management” Ozigbo stated.
Speaking on 2017 prospects, Mr. Ozigbo maintained that the Company will keep up with the tempo to sustain the financial performance in 2017, despite the impacts of the temporary airport closure. He also confirmed that the Company is on track to deliver on the ongoing upgrade of Transcorp Hilton Abuja as preparations get on for the 30thanniversary of the Hotel in the 2nd quarter of this year.
News
Ex-gov candidate Nwosu, Akpabio’s SA Ibritam, others bag MSc from UniAbuja
Former Chief of Staff to the Imo State Government and ex-governorship candidate, Uche Nwosu, along with Sir Richard Odibo, a former Federal Commissioner on the Board of the Nigeria Population Commission, Barr. Freedom Friday Ibritam, a Senior Legislative Aide to Senate President Godswill Akpabio, and three others have been awarded Master’s degrees (MSc) in Public Governance and Leadership, as well as in Policy and Strategic Studies. These degrees were conferred by the Abuja Leadership Centre (ALC) at Yakubu Gowon University, previously known as the University of Abuja.
Professor Philip Dahida, the Director of the Centre, disclosed that these achievements were awarded after the recipients completed all requirements, including the successful external defense of their dissertations on Monday, March 16, 2026.
Nwosu, who previously served as Deputy Chief of Staff to the Imo State Government, Ibritam—a former senior police officer—and Odibo received their MSc degrees alongside real estate developer Egbe Oloche Daniel and Gila Ibiere Dikko. Additionally, Dr. Success Tosin Ademeso, a lecturer at the University of Abuja, earned an MSc in Policy and Strategic Studies.
After the event, Professor Dahida praised the external examiner, Professor Charles Nwekeaku from Nasarawa State University, for his thorough and professional evaluation of the MSc candidates. He urged the graduates to strictly adhere to the examiner’s counsel and ensure all suggested corrections are implemented. Dahida also encouraged them to apply the knowledge they gained for the betterment of society.
Reacting to this academic achievement, Sir Richard Odibo explained that he chose the programme (public governance and leadership) because of his interest in the subject. He noted that his research on the census in Nigeria could help the country plan more effectively and take its rightful place among nations. Odibo emphasized that the findings from his academic work could motivate scholars and citizens to advocate for the depoliticization of the census process.
He advised the Federal Government to conduct a new national census, recalling that the last one occurred in 2006. Odibo stated, “For Nigeria to have a good development plan, reliable census data is essential. Without accurate figures, planning becomes impossible. You can’t develop evenly.”
He further explained, “The need for a census is critical for us; it’s like oxygen. Without it, we’ll continue to make misguided plans, and if you fail to plan, you plan to fail.”
Odibo expressed that one major challenge Nigeria faces is obtaining reliable and acceptable census data, a problem that has persisted since before independence. As a former Federal Commissioner, he felt a personal responsibility to investigate these challenges, stating, “This became a challenge that drove me to look deeper into the reasons behind our difficulties with censuses. I believe my research will help persuade citizens and scholars alike that we must remove politics from the census process. If we can achieve that, Nigeria will benefit greatly.”
The Abuja Leadership Centre at the University of Abuja is recognized as a TETFUND Centre of Excellence for Public Governance and Leadership, dedicated to enhancing public governance and leadership in Nigeria and beyond.
News
RED ALERT: Borno Under Tight Security Cordon
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☆☆As Reports inficate Possible Insurgent Threats.
By: Special Correspondent.
In apparent response to recent security developments relating to insurgent movements and emerging operational concerns within the Maiduguri, the Borno State Capital and surrounding areas, security operatives have been placed on red alert.
Our correspondent gathered over the past few days indicate that insurgent elements have been attempting to regroup and reorganise their activities in across the state, especially around Maiduguri metropolitan axis.
This is even as the Borno State Government have assured of adequate security arrangements to ward off any possible security threat.
According to findings, these developments have generated growing concern among local communities and security observers, who in turn called the attention of the Borno state government..
Although intelligence monitoring over the last three days,indicates reduction in their vissible activities, owing to patrols by security personnel and frontline defence groups, the city remains under intense watch..l
Further reports available to us indicate that some of the insurgent elements were sighted operating around Duwari village under Konduga Local Government Area, where they appear to be attempting to regroup and reposition themselves, for possible mischief during the upcoming Eid prayer gatherings, which they may perceive as opportunities to exploit large public gatherings.
Highly placed security source told our correspondent that, the current surveillance and intelligence monitoring across the state by soldiers, members of the Civilian Joint Task Force (CJTF), and other frontline defenders remains a capable check against any mischief.
“Our level of preparedness against any mischief remains on high and we are prepared to confront any insurgent threat should the situation call for it”.
“Only a few days ago, insurgent elements made an attempt to regroup in some areas around Maiduguri Metropolitan and Konduga, and upon receiving credible intelligence regarding their presence and movements, we immediately moved in with our swift operational response team”, the source added.
While reassuring that available security assets, including soldiers and members of the Civilian Joint Task Force (CJTF), are capable of confronting any insurgent group, our source, said, any attempt by any group to come into Maiduguri, will amount to “a suicide mission”, on their part.
Our correspondent further reports that, the Borno state Government has in the last few weeks provided enormous logistics and equipment to security operatives in what looks like a renewed fight against Boko Haram and ISWAP elements, who have been attempting a resurgence in activities.
Reports across Borno state indicate that, Boko Haram and ISWAP terrorists, who have been fleeing their enclaves following intense attacks on them by troops, have in the process been attacking vulnerable communities in search of food and other logistics.
Reports say most of their camps have been destroyed, and they are desperately making attempts at re-entering Maiduguri.
Camps around the notorious Sambisa forest are said to have been vacated ahead of oncomming onslaughts and the terrorists have retreated and fled into the Mandara mountains close to Nigeria’s border with Cameroun.
Subsequent surveillance checks conducted through intelligence monitoring channels confirmed that the fleeing elements were attempting to regroup in nearby locations, suggesting a continued attempt to maintain an operational presence within some areas.
Borno state Governor, Professor Babagana Umara Zulum, who recently concluded a statewide tour has expressed concerns about the operational coordination among community-based security groups, with a promuse to ginger them up for more action.
As a result, several community defence formations operate simultaneously, including, the Civilian Joint Task Force (CJTF), Hunters,Vigilante groups
and other local frontline defenders.
He has vowed to flush out, what inteligence observers, described as certain individuals within these formations, who may have indirect alignments or may be responsible for information leakages that could potentially compromise ongoing security operations.
The inteligence circle in Borno has often complained that, insurgent elements appear to have prior knowledge of local security movements and response patterns, even as it raised concerns about possible infiltration or operational compromise within these community security structures.
Governor Zulum, during his recent tour promised to remedy the situation, after a careful institutional review and restructuring in order to strengthen operational discipline and reduce vulnerabilities within the community defence architecture.
Information available to us indicate that, certain
security measures are being contemplateded for Maiduguri during the Eid celeberations, which may include strict monitoring of vehicular and human movements to minimize potential vulnerabilities that hostile elements could exploit to infiltrate the city.
While physical security alert remains in place, this medium gathered that, intelligence gathering is being strengthened and early warning mechanismsactivated across Maiduguri.
In the face of these, uneasy calm still pervade the citizenry as they prepare for the oncoming celeberations.
News
Dogara Celebrates Baba Jang at 82, Hails Him as a Visionary Statesman
Former Speaker of the House of Representatives and Chairman, Board of Trustees of the National Credit Guarantee Company Limited (NCGC), Rt. Hon. Yakubu Dogara, has joined Nigerians in celebrating Former Governor Jonah Jang, fondly called Baba Jang, as he clocks 82 years.
In a glowing tribute, Dogara described Baba Jang as a visionary leader whose life and service remain a beacon of hope for generations. He noted that Jang’s tenure as Governor of Plateau State was marked by courage, foresight, and an unwavering commitment to peace, unity, and development.
“Baba Jang’s life is a testimony of service and sacrifice. He invested in infrastructure, strengthened institutions, and worked tirelessly to foster unity in Plateau State. His leadership was never about personal gain but about building lasting foundations for progress,” Dogara said.
He further emphasized that Jang’s integrity, resilience, and mentorship have shaped leaders across Nigeria, adding that his legacy continues to inspire beyond the boundaries of Plateau State.
“As he celebrates 82 years, we honor him not just for the offices he has held, but for the enduring impact he has made on countless lives. Baba Jang remains a statesman, a father figure, and a model of quality leadership,” Dogara added.
The tribute underscores Baba Jang’s enduring influence in Nigerian politics and governance, highlighting his role as a leader whose footprints on the sands of time cannot be erased.
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