Chairman of Transcorp Plc, Tony O. Elumelu, C.O.N signed the Share Sale Purchase Agreement (SSPA) for the N105 billion acquisition of Afam Genco with the Federal Government led by His Excellency, the Vice President of Nigeria, Professor Yemi Osinbajo alongside the DG of Bureau of Public Enterprises, Abuja (BPE), Alex Okoh at the State House on the 5th of November 2020.

With a power generation capacity of 966MW installed, the newly acquired Afam plant(s) represent Transcorp Plc’s ambition to contribute 25% of Nigeria’s power needs, powering the country to its development goals.

At the signing ceremony, Heirs Holdings & Transcorp Plc Chairman, Tony O. Elumelu, C.O.N emphasised the critical role of electricity in lifting people out of poverty, improving the competitiveness of Nigeria and attracting foreign investments into the country.