By Peter Egwuatu
TRANSNATIONAL Corporation of Nigeria, Transcorp Plc, has assured investors and other stakeholders of improved performance in the third quarter, Q3’19, despite the difficult operating environment.
The President and Chief Executive Officer, Transcorp Plc, Mr. Valentine Ozigbo gave the assurance at the Company’s half year analysts parley and investors held in Lagos, stressing that its first half, HI’19 performance was affected by severe gas shortages as well as transmission and other technical challenges in its power business.
He unveiled the Company’s strategy aimed at improving its Q3’19 performance, saying: “We expect the situation with the gas supply to improve going forward based on the targeted activation of the reviewed Gas Supply & Aggregation Agreement and optimization of the opportunities therein. Also, we are exploring additional affordable gas supply sources. We are currently exploring opportunities created by the eligible customer regime initiated by the Federal Government. This would allow us to sell power directly to certain end users who meet the criteria set out in the governing regulation. By so doing, we can put to good use, our stranded capacities.”