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Business

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ICT

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Capital Market

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Insurance

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Business

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Insurance

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Transcorp Power Names Christopher Ezeafulukwe as Non-Executive Director

Transcorp Power Plc wishes to notify the investing public of significant changes to its Board of Directors. Mr. Christopher Ezeafulukwe has been appointed as a Non-Executive Director.

This appointment has been approved by the Nigerian Electricity Regulatory Commission in accordance with the provisions of the Companies and Allied Matters Act 2020 and the Articles of Association of Transcorp Power Plc.

Mr. Ezeafulukwe is a highly accomplished professional with over 20 years of executive management experience spanning multiple sectors, including power, oil and gas, financial services, legal services, and corporate governance. He currently serves as the Managing Director/CEO of Transcorp Energy Limited.

Prior to this, he held the position of Managing Director/CEO of Abuja Electricity Distribution Plc and previously served as the Managing Director/CEO of Transcorp Power Limited (now Transcorp Power Plc). Mr. Ezeafulukwe also held the role of Executive Director, Legal and Business Development, at Transnational Corporation Plc.

His academic credentials are equally impressive, holding an LL.B degree from the University of Lagos, a B.L. from the Nigerian Law School, and an LL.M from the University of Lagos. He further advanced his education with a second LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas. Mr. Ezeafulukwe is also an alumnus of both the Lagos Business School and IESE Business School in Barcelona, Spain.

In addition to his academic and professional accomplishments, Mr. Ezeafulukwe is a respected member of several professional bodies. These include the Association of International Petroleum Negotiators, the Nigerian Bar Association (NBA), the Institute of Chartered Secretaries & Administrators of Nigeria (ICSAN), and he is a past member of the Executive Council of the Association of Power Generation Companies.

We are confident that Mr. Ezeafulukwe’s wealth of experience and leadership will greatly contribute to the continued success and growth of the company.

 

About Transcorp Power Plc

Transcorp Power Plc is an electricity generating subsidiary of Transnational Corporation Plc (Transcorp Group), a leading, listed African conglomerate with strategic investments in the power, hospitality, and energy sectors. Transcorp Power is committed to creating value and driving economic growth, by improving lives through access to electricity and transforming Africa.

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US Oil Import from Nigeria Down 67%

The United States decreased its oil import from Nigeria by 67 per cent in 2014, signaling growing economic pain and sustained pressure on foreign reserves, already down to $29.3 billion as at April 15, 2015, its lowest point since 2010. Figures from the US Department of Commerce suggest that U.S. total trade in 2014 (exports plus imports) with sub-Saharan Africa (SSA) also went down by 18 per cent to $52.1 billion compared to 2013. “In 2014, U.S. imports from SSA decreased by 32 percent, falling to $26.7 billion and representing only 1.1 percent of total U.S. imports from the world. This decrease was mostly due to a 51 percent decrease in U.S. mineral fuel and oil imports from SSA. U.S. imports from SSA originated, for the most part, from South Africa Nigeria, Angola, Côte d’Ivoire, and Chad,” the report says.
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