News
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
Hon. Hafiz Kawu Calls for Unity, Highlights Tinubu and Governor Yusuf’s Achievements in Kano
Hon. Hafiz Kawu, Honourable Commissioner at PENCOM, has urged APC supporters and faithfuls in Kano State to rally behind the re-election of President Bola Ahmed Tinubu and Governor Abba Kabir Yusuf. Speaking live during a radio program in Kano, Hon. Kawu OON, MNI delivered a compelling message of reconciliation and renewed commitment to the ruling party’s vision for development.
In his remarks, Hon. Kawu emphasized the importance of President Tinubu’s administration to Kano’s progress, pointing to several landmark projects that have reshaped the state’s infrastructure and economic outlook. He cited the Abuja–Kaduna–Kano Expressway reconstruction and the dualization of the Kano–Kongolom Road as evidence of federal commitment to easing transportation and boosting trade. He also highlighted the modernization of the Mallam Aminu Kano International Airport and the approval of the Kano Light Rail project as transformative investments in transportation.
Hon. Kawu further pointed to the AKK Gas Pipeline as a strategic investment that will power industries, create jobs, and strengthen Kano’s role as a commercial hub. He noted that the appointments of Kano indigenes into key federal positions demonstrate the President’s recognition of Kano’s strategic importance in national politics.
Turning to state-level initiatives, Hon. Kawu praised Governor Abba Kabir Yusuf’s urban renewal and rural connectivity projects, including the construction of the Dan Agundi Interchange, the Tal’udu Cloverleaf Overpass, and the revival of 5KM roads across 44 local governments. He described these projects as complementary to federal efforts, ensuring that both urban and rural communities benefit from development.
Addressing internal party divisions, Hon. Kawu noted: “This is the time to set aside differences and return to the fold. The projects we see today are only the beginning of greater things to come under APC leadership. Unity is the key to victory, and victory is the key to sustaining development.”
His live radio broadcast blended detailed references to federal achievements under President Tinubu with state-level initiatives under Governor Yusuf, leaving listeners with a clear message: Kano’s future is tied to APC’s success, and every supporter has a role to play in securing that future.
As the broadcast concluded, Hon. Kawu emphasized that cohesion across the APC structure remains the decisive factor in the political contest ahead. He stressed that only a united APC — working seamlessly from the grassroots to the national stage — can secure victories across all levels of governance and sustain the momentum of development. His words positioned unity not as a plea, but as a strategic imperative for the party’s continued dominance and for the progress of Kano and Nigeria at large.
News
Nigeria Is Not a Muslim Country — Rev Dachomo Counters Sheikh Jingir
The Regional Chairman of the Church of Christ in Nations (COCIN) in Barkin Ladi Local Government Area of Plateau State, Rev. Ezekiel Dachomo, has rejected comments by Islamic cleric, Sheikh Sani Yahaya Jingir, that Nigeria is a Muslim country.
Jingir had reportedly made the remarks during a programme in Kano State over the weekend while expressing support for the continuation of a Muslim-Muslim political arrangement.
The cleric argued that Muslims constitute the majority in Nigeria and should therefore have the opportunity to lead the country. He also reportedly referred to Christians as infidels and suggested that Christians who were unhappy with the arrangement could leave the country.
Reacting in a statement on Tuesday, Dachomo strongly opposed the comments, insisting that Nigeria is a multi-religious nation and “is not and can never be a Muslim country.”
The COCIN chairman cautioned Jingir and other religious leaders against making statements capable of deepening religious divisions or creating hostility between Christians and Muslims.
Dachomo argued that political leadership should not be determined by religious numerical strength but by competence, justice, good governance and the ability to protect the lives and property of all Nigerians.
“Nigeria is a multi-religious country in which Muslims and Christians have historically participated in the political process and contributed to the development of the nation,” he said.
He urged religious leaders to exercise caution when commenting on political matters, particularly issues capable of affecting relations between religious communities.
According to him, linking political leadership to religious majority could create the impression that one faith has greater ownership of Nigeria than another.
“I urge religious leaders to be mindful of their public statements, particularly when discussing politics and issues capable of affecting relations between different religious communities,” Dachomo added.
News
Muslim-Muslim ticket: No regret over my statement – Sheikh Jingir
Islamic cleric and leader of the Izala Scholars Council, Sheikh Sani Yahaya Jingir, has stood his ground over his Muslim-Muslim ticket comments and description of Christians as “infidels.”
Speaking in an interview with the BBC, Jingir said he had no regrets over his recent declaration of support for a Muslim-Muslim presidential ticket, despite the criticism trailing the statement.
He said his position was not politically motivated or intended to campaign for President Bola Tinubu, but was based on what he described as his responsibility as a Muslim.
According to the Islamic cleric, he would continue to support and encourage Muslims to back a Muslim-Muslim ticket, regardless of the criticism his position might attract.
“I have no regrets. I will continue to support and encourage the Muslim-Muslim ticket. What they say will not stop me. They started it; at a point, we suffered in their hands,” he alleged.
DAILY POST recalls that Jingir, during a mass wedding organised by the Kano State Government for 1,500 couples, declared his support for the Muslim-Muslim arrangement and urged Muslims to vote in a manner that would demonstrate their numerical strength in the country.
He further stated that, as a Muslim preacher, he had the right to advocate a political arrangement that was consistent with his religious convictions.
The cleric also challenged claims that Christians or other religious groups constituted a larger proportion of Nigeria’s population than Muslims.
His remarks have continued to generate reactions, with some commentators describing them as divisive, while others have defended his right to express his religious and political views.
-
Uncategorized6 years agoFG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines11 years agoBreaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News12 years agoNigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years agoHow 21-year-old Girl fled community over accusation of lesbianism
-
News10 years agoYobe Gov Moves Against Deputy
-
Opinion7 years ago7 signs she has friend zoned you
-
Technology5 years ago
Online job placement company headhunts women
-
Headlines10 years agoBorno Dep Gov Abducts Another Church Leader
