It is no longer a hidden interest of Nigeria to develop the power sector. There has been transfer of PHCN/NEPA assets to the new investors and we have witnessed a tremendous change in Nigerian Stock Exchange lately because of this; notably Forte Oil - FO and Transcorp.

Based on the success of Forte Oil to launch the recent power plant in Lagos, I believe that Transcorp has to the capacity to do much better in this field. Thus more investments and development in the country.


I wish to know are there other companies that are listed on the NSE that are directly involved in the recent Power Sector Privatization?

Transnational of Nigeria to Pump Its First Oil Next Year
By Emele Onu - Nov 18, 2013 4:02 PM GMT+0100
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Transnational Corp. of Nigeria Plc, a conglomerate with interests from energy to hospitality, plans to produce its first oil next year.
The company will pump oil from Lease 281 in the Niger River delta by the end of 2014, it said today in an e-mailed note to investors. It also plans a 5-star hotel in the oil-rich region.
Nigerian-owned companies are boosting their share of the country’s oil output by taking up fields in restive areas of the delta as international energy producers retreat. For Lagos-based Transnational Corp., or Transcorp, the start of crude output may help restore profit after earnings slumped 58 percent last year.
Transcorp also took control of the Ughelli power plant this month as part of a Nigerian privatization program.
“Oil, power and hospitality are growth sectors of the Nigerian economy, which investors believe will increase Transcorp’s income stream in the near future,” Sewa Wusu, an analyst at Lagos-based Sterling Capital Ltd., said by phone.
The new hotel, a venture with Hilton Worldwide, will be built in Port Harcourt, the capital of Rivers State, according to Transcorp, which plans to start work on the site in the first quarter of 2014. The company said in 2011 it would build eight hotels under the Hilton name in Nigeria.
Transcorp rose 10 percent to 4 naira in Lagos, the highest closing price since March 2008. The stock has more than tripled in value this year, compared with a 36 percent gain in the Nigerian Stock Exchange All-Share Index.
To contact the reporter on this story: Emele Onu in Lagos at eonu1@bloomberg.net

http://www.bloomberg.com/news/2013-11-18/transnational-of-nigeria-to-pump-its-first-oil-next-year.html