Chairman of Transcorp Nigeria Plc Tony Elumelu has shared his thoughts on the recent boom in business and the growth in shareholders of the company which has attracted business tycoon, Femi Otedola, as an investor.
In an interview with ARISE NEWS on Wednesday, Elumelu spoke on the expansion of Transcorp Nigeria with its recent venture into power and gas being one of the top investment outlooks in recent times.
The Tanscorp power plants which he claims to have a power generating capacity of 2000 mega watts has been a major influence in the growth of the company and has attracted over 300,000 investors locally and internationally.
One of the company’s major investors includes businessman Femi Otedola, the current executive chairman of Geregu Power Plc. The CEO of Tony Elumelu Foundation expressed excitement in the onboarding of the fellow businessman as a shareholder in the company.
“He’s my very good friend. In fact I only follow two people on instagram, my wife and Femi Otedola, that shows the level of friendship we have. He’s a man i admire and we call ourselves bothers. I welcome Femi , I call him FO or Ote Dollar. I welcome his investment in Tanscorp.”
Otedola’s Geregu can be seen as one of the biggest competitors of Transcorp in the power and gas sector. Elumelu, however, still maintained his stance in welcoming the CEO and his friend.
“Most times we go on international road shows to get investors. I’m happy to see an indigenous active investor community. I’m happy Femi is investing locally and I welcome his investment. The more people show interest in a company, the better for us shareholders.
“When friends invest in your business, it’s a validation that they believe in your story and vision.”
Elumelu further expressed his faith in the power and gas sector, labelling it a “gold mine” and expressed hopes in attracting more investors into Nigeria using it as a platform for national growth.
“You can develop Nigeria and Africa in the 21st Century, with strong investments in power and access to electricity. It is the beginning of prosperity, of eradication of poverty, of illiteracy or fixing insecurity.”
