As of 1:45 p.m. West African Time (WAT) on Monday, 4 March, the closing gong ceremony marking Transcorp Power’s shares Listing by Introduction on the Nigerian Exchange Group (NGX) was underway and by implication, meant setting a stronger foot towards Nigeria’s destined path to energy sufficiency.

The Transcorp Group, as soon as it is nighttime today, would have successfully steered one of its subsidiaries, Transcorp Power to achieve more robustness even if the listing on the exchange is not designed to raise any sort of funding.

Instead, the energy powerhouse will be adding more than ₦1.8 trillion to the market capitalisation in an announcement late in the morning.

Generally, the whole country currently suffers from inadequate electricity supply, which has been put down to the government’s debt of up to US$1.2 billion owed to gas companies. So far, only $120 million has been paid.

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This is why it helps that private sector players like Transcorp Power are in the picture to augment deficiencies.

Transcorp’s 972MW gas-fired Ughelli Power Plant matched with the 966MW gas-fired Afam Power Plant bring about a total installed capacity of approximately 2000MW. This number caters to areas that other less liquid energy suppliers cannot cover.

Introductions are underway at the Listing by Introduction of Transcorp Power on The Exchange, an NGX’s tweet via the X platform read around 2:00 p.m.

After this will come a “Facts Behind the Listing” at NGX Group House, which was to start at 2:45 p.m.

During the session, the Chief Executive Officer at Transcorp Power, Mr. Peter Ikenga, is expected to play host and put a light on what has motivated their latest move on the exchange.