The Transnational Corporation of Nigeria Plc is "a Nigerian world-class mega-corporation managed by Nigerians and wholly owned by Nigerians." Transcorp was launched on the 21st of July 205 at the Presidential Villa Abuja by President Olusegun Obasanjo."

Their website is at www.transcorpnigeria.com and their tagline is ", great things are happening".

In my several minutes of research, there is one tiny little detail that I've not been able to figure out. What exactly do they produce or sell? If you know the answer, please let me know!

See also: "Transcorp Nigeria: 10 Reasons Why It's A Bad Investment"

Will there be a prize for the answer?

Transcript of a recent conversation with a friend on this topic:

Me: Any ideas on this Transnational Corporation thingie?
Friend: its rubbish and its bound to break up
Me: what do they actually do? Your views are wanted o!
Friend: they want to be like the big industrial business groups in advanced countries like Sumitomo, Mitsubishi, Krupp among others who use their massive size to dominate every sector
Me: https://www.nairaland.com/nigeria/topic-2703.0.html
Friend: of a targeted market including sales, all stages of manufacture, research. they use their size to seize the market in their country and others.
Friend: its a good idea but the way nigerians are going about it is a dumb one.
Me: hmmm. In other words, this is a way for Obj and his "friends" in the business sector to retain control of all sectors of the economy even after he leaves power?
Me: yes. example, they buy out Zinox and then open 774 big computer marts around the country and as many computer schools and they buy the haulage company handling all the other importers.
Friend: they then control the prices of the others by rote.
Friend: they buy the buildings they use and cost cut radically driving out every body else. it is a monopolists dream.
Friend: they are heavily diversified and if the software section is failing their other sectors will hold them up eg light and heavy manufacturing, railways etc

I don't think it'll work

Stop all these pessimistic dreams and move on! There are only one or two ocompanies that changed the fortunes of Japan...if Transcorp does it, let it be!

i too am wondering what they do? i have heard a lot of talk and am still waiting to for action.

Transcorp is a good thing for Nigeria.
The calibre of people working as transcorp directors is world class.
Transcorp is already raising money by public placement and will go to the stock exchange by next year.
Transcorp has already bought Nicon Noga hotel thru a holding company. They also plan to buy Portharcourt Refinery and Eleme Petrochemicals.
Transcorp will focus on key areas of the economy like oil & gas, agriculture, tourism, IT , steel, power .technology.
Infact I hope to buy some part of the company thru the stock exchange.

Pls learn to read newspapers so that you can find out the good things about Nigeria.
Nigeria is for sure marching forward !!!!

What I really Want to find out is Where did they get the money that they are using to buy up the country? And secondly, since we have not really wiped out the issue of corruption, I have a feeling that the "Big Boys" behind the scene are not actually "Smart Kids" but the present Politicians in office doing what Tafa Balogun did, using a stooge to front their aspirations to acquire Nigeria's resources.

basically i c d company as a big player in industrialisation of nigeria as a whole based on the ppl that run this organization. one things makes sense to me it's run by bizmen and a woman not government officials. None of the guys making up this vast corporation would like their biznesses fail so i gess thats d mandate they have for this corporation.

look at it from the bright side folks the federal govt. ain't got a dime in it so it's purely bizness. we just have 2 pray that monopolistic ideas are not enshrined in the noble deed. Another plus 2 this is it provides a higher playn field for international bizness. I would luv 2 say lets fold our arms and watch but i would prefer we stand on our toes and look for loop holes 2 either make it or break this corporation. It's ur choice let ur concience guide u

hello seun,
trancorps nigeria is not all about production of goods and sevices. it also outsource jobs for nigeria. meaning, they will be Nigerian's deawoo company. it will create a world class of skilled nigerians both at home and abroad, and supply there skills to were ever such skills are required. They have been given licences to build refinaries,power station, banks etc. if you read kim yuan book:INDONESIA (FROM THIRD WORLD TO FIRST WORLD). a particular organization BCA(which i refer to our own transcorp) was mention which actually brought together indonesia brains, and help tp build a world class economy. That is wat transcorpnigeria will do for nigeria.

Hello to everyone in the house.

TRANSCORP as is fondly called means (Transnational Corporation of Nigeia PLC) is Nigeria's answer to the chaebols of Korea, which used scale economies to pull their country out from  the abyss of the developing nation vicious cycle.

It is the president's attempt to give Nigeria the competitive edge to compete globally so he initiated Transcorp. I think his intention  or goal for bring up this idea is to provide for the nation one Mega firm that can penetrate markets around the world, as well as dominate the local markets in products and services that were previously serviced by foreign firms and also to service mkts that have been completely negleted. while doing this for Nigerians they will be providing its investors with a good return on their investment.

Investors are wealthy nigerians who have and are running their own businesses in the different sectors of the Economy, Like Dangote, Jim Ovia, Odimegwu,Ibru etc. and other foreign investors too. They also placed  

I also read that the business model is designed to meet five core revenue areas namely:
(A)  Oil and Gas
(b)  Agriculture and AGRO Allied Business
(c)  International trade
(d)  Power
(e)  Information technology

Unconfirmed report says there is a 6th area which covers Free trade zone/industrial Park, but haven't read about it yet. The papers haven't been on this story for some time now,,  everyone is focused on the refinary and the buying over of d Hotel in Abuja.

I wonder why they didn't include the Medical aspect or shld i say Manufactuing--- [so that pharmaceutical coys will be identified under this) They want foreign investors to sink money and develope the money making areas, negleting the important ones .

I think its a good idea by the government to create our own indegenous firms to meet our needs with quality goods and services, but i will mostly appreciate their effort more, if jobs will be created in those areas evenly and not selected few, by tribe or other nigerian factors.

Trancorps Nigeria is not all about production of goods and sevices. It also outsources jobs for Nigeria, meaning, they will be Nigerian's Deawoo company.

Bros, Daewoo collapsed. Why? Because power corrupts absolutely.

I think it is very fraudulent and irresponsible to attempt to concentrate the economic power of the country in a few hands especially when you consider the antecedents of the individual shareholders of the company.

Imagine, the Shell Corporationn which has not done anything, has been allowed to be listed on the stock exchange, has been given oil block, etc.

Obasanjo is paying off his boys. Why won't they donate N7 billion for his library? Please match the shareholders of Transcorp against the biggest corporate donors to Obasanjo campaign and you get your answer.

Imagine this: Dangote has been given pioneer status on the cement factory he is building in Kogi state. What this means is that he has the potential not to pay taxes on the profit made by the plant for its first 7 years of production. This tax provision is supposed to be for companies going into areas where nobody else had ventured before. There are at least 5 other cement plants in Nigeria. how will they compete with his price when he is not paying tax?

I heard it said somewhere that one or two companies pulled up the japanese economy. let me correct that by listing some of them, Mitsui, Misubishi, Sumitomo, Toyota, Toshiba and many other families (Honda was not a big one and it grew independent of government support.).

What makes them different is that they had many thousand small companies doing it for them and the government was willing to stifle foreign companies with the capability to overrun them. The Nigerian government will not do that. Apart from that, what nigeria needs is heavy and light manufacturing with emphasis on the heavy aspect. you cannot pay for german trucks or japanese cars with oil, it will always be skewed in their favour. though it might not be a bad idea to start with those sectors mentioned and then move into others.

the likely scenario is that they will site their businesses in lagos or other large metropolis and this itself will only create more problems than they solve. there are many companies that are peforming well in all sectors of the economy, let the government focus on selecteed sectors one at a time and ensure that nigeria truly gains dominance in those sectors,(maybe chase away Julius berger and use reputable nigerian companies.) they should try to help create nigerian multinationals like Glo who can give the foreign companies a run for their money.

I believe its only a way to take over anything they might have missed during the privatisation era.

brilliant post kodwrita

Alot has been said about this company... true stuff

Bottomline, Transcorp is a product of present democratic settings in niaja today. It would neva have happened in military setting were you find private businessmen/women investing thier monies in such organisation knowing the sort of economic tendercies and policies in place at that time. Transcorp if well handled is expected to improve unemployment levels in the country in no small way. It i sre to boost the overall performance of key sectors in the country including telecomunications, shipping, agriculture, technology and energy. This is a move that should be encouraged in all it's ramification. Another important thing to note about it is that come january next year, the public will be able to buy into the company thereby making it as wholistic as it can be.. I am closely watching the trends and I commend you (Seun) for raising this topic....

One of my favorite sayings come to mind: "the only thing worse than a government monopoly (like NITEL) is a private sector monopoly (aim of Transcorp?)" When we put all the power into the hands of a few people, be it government or private sector, there will be exploitation".

Why is the government throwing so much support behind a private firm? Why is it Transcorp, and not Nairaland or Layi, Inc., that is being launched by the President? Is what they are doing fair to the thousands of small and medium scale investors and entrepreneurs in this country?

Even witches have grades... In every economy, u must have the big players and the small ones... In niaja, we av neva had any company this big with this much resources be it government owned or privately owned. icro economic might be poor riht now but think in terms of macro econs....Even if it seem now that the wealth is in the hands of a few, come some years from now, it would be divided amongst a large number of nigerians....

Why are always afraid of going into big ventures. If Transcorp succeeds as a private sector initiative, it will lure many other investors to look into the Nigerian economy. The fear of playing it big has made today's Igo trader comfortable with his one suared metre shop and never thinks of forming synergy amongst partners for a bigger firms. A place like Alaba market and Computer village should have been places of mega malls and supermarkets in a well structured environment not ruled by street urchins.

Tell them broda, e be like say them of know the present trends in the world today. Many dont know that the whole Idea o globalisation starts from stuff like this...

A place like Alaba market and Computer village should have been places of mega malls and supermarkets in a well structured environment not ruled by street urchins.

What, pray ye, would be the "benefit" if the whole of Computer Village Ikeja was occupied by mega-malls and supermarkets instead of small-scale entrepreneurs? Let me list them for you:
- Fewer jobs created - more unemployment - as mergers make some salespeople redundant.
- Higher prices: as a result of reduced level of competition, owners of those mega-malls wil be able meet to set higher prices for computer components and artificialy bost their profit margins.
- People who are business owners today will be forced to retire or become employees of large, faceless organizations. This will cause many of them to be demoralized, as I would be if I had to be a Transcorp employee to run this site.

Computer Village Ikeja is such a successful and efficient market precisely because of the intense competition between the independent traders. Most people don't understand the critical importance of competition in a free market. When you reduce competition (in the name of "consolidation", "mergers" you hurt the customer because he has less choices and it's easy for the few sellers in the market to collude to artificially raise prices.

If you have too much consolidation, those "street urchins" you despise will becomee unemployed and they will have no choice but to turn to vices like armed robbery. Do you at least understand that?

I am sorry I disagree with you Seun. First when there is a large pool of cash, the customer is better off, beacuse the seller can afford various products, hence more choices. Corner shops have their advantage when it comes to a remote location and inconvenience going to farther distances to the big shops, however, the Computer village and Alaba will be well off if the market is organised, controlled and convenient to navigate. The harrasment in the hands of touts alone is enough to put somebody off.

Secondly, the idea of having big malls in a central places like Alaba and Computer village is not to outwit small players that will be dotted in various corners of the state. Moreso, TESCO, a big time retailer in UK is one of the highest employers in the UK. The same goes for Walmert etc. So the idea that there will be less jobs is not true. Infact such markets will give birth to secondary markets that will provide service to these malls and supermarkets....

I'd rather have those street urchins hawking products in the computer vilage than robbing banks or visiting my house at night. As it hapens, there are a few neat, large and reliable stores in the village for those who don't like to shop around - Gafunk, Gennuss, etc. However, most of the people who go to Ikeja Village are primarily concerned about price. They like to shop around, and this is how the smaller players get their patronage.

However way you look at it, the net effect of any consolidation is that more economic power is concentrated in the hands of a few people - the major shareholders and top executives of the Transnational Corporation, or the operators of your proposed Computer Village shopping malls. I am not a Transcorp shareholder, nor am I planning to be their employee, therefore I don't think it's logical for me to support them!

Transcorp can never and will never pull Nigeria out of the economic mess she has been wallowing in for years.

I see this Transcorp thing as a big way of deceiving Nigerians into believing that an economic Messiah has come. When flamboyant people whose motive in life is all about how they can increase their own net-worth teamed together to form a mega-corporation, what you can/must expect is nothing but a big failure.

Nigeria does not need a big corporation to get out of the economic quagmire she’s in right now, what we need is/are SMEs. The US economy is buoyant because they give qualitative support to their SME, they value them more than corporations like Microsoft, IBM and Boeing.

SMEs have the potentials of creating more jobs in many regions of a country than any corporation, a small SME also do have the potentials of becoming a big player in it’s own sector too; Microsoft, IBM, Dell etc are classical examples.

What those founders of Transcorp are trying to do is to compete with foreign multinationals, they will fail woefully because they don’t have what it takes to match these people. Though they may have the financial and political muscle, transcorp does not have a veritable economic, development and innovative blueprint to become a world class player overnight like they planned to.

Mega corporations are not the saviour of any nations economy because those that run them are mostly people that are out of tune with what’s obtainable on the street. Enron, Worldcom are examples.

Also for your information, Wal-mart is the biggest SME(retailer) killer anywhere they go. They charge super low prices, and who bear the brunt, their suppliers, they profit because of the volumes of transactions they handle. In order to cut cost, they are now replacing workers in their stores with robots.

When the NSE DG is also a director and one of the “owner” of Transcorp, I wonder how she will be able to sanction the company (Transcorp) when they violate set standards of NSE. And if you don’t know, Transcorp is also owned “Sons and daughter of Mr. President”.

For a start where did they get the money with which they bough NICON Hilton from?

Well sha, time will tell if Transcorp is a blessing or a curse.

lotana how do i get this kim yuan :INDONESIA (FROM THIRD WORLD TO FIRST WORLD). Whats the cost and where can i get it within lagos

I think we all have to give the best support we can to this project. It is expected ,that when fully funtional should be able to employ alot of qualified nigerians especially in the manufacturing sector which has been neglected for a long time.

Where on net can I get the IPO information for Transcorp?

So far I have read all about the corporation. All the do and don't.

i bet everybody will agree that one issue is missing, and that is, this company remain invisible. To the best of my knowledge, a company to be registered in nigeria with the Corporate Affairs Commission must have a registered address.

Stumbled accross this:
Board of Directors of Transnational Corporation of Nigeria Plc (Transcorp), has announced the appointment of Mr Tajudeen Folabi Adeola, as the Group Managing Director/Chief Executive Officer for the mega corporation.

In a statement in Lagos yesterday, Chairman Transcorp and Director General of the Nigerian Stock Exchange (NSE), Dr Ndi Okereke-Onyiuke, said by the new appointment, Adeola has become the first substantive Group Managing Director and Chief Executive Officer of the Transnational Corporation of Nigeria Plc.
http://www.thisdayonline.com/nview.php?id=35263

How can the DG of the stock exchange be the Chairman of Transcorp? That is massive corruption just waiting to happen! My goodness, what are they up to?

I think the idea of the transcorp is fine. borrowing from the example of other recently developed nations llike Indonesia, India, Brazil, Singapore, etc, we find that the benefits of a large mega corporation to help boost the economy of a country is immence.

Consider the ability to compete in the international market place for instance against large and well established corporations. Consider the financial muscle they would possess to delve into new areas of endeavour hitherto the exclusive preserve of huge foreign firms. I think the benfits are simply enormous.

I only fear the usual nigerian factor  - corruption. I fear also the involvement of key govt and key public sector personnel. I wonder the source of their funds. I also wonder why they are venturing into fields that would not really move the country significantly forward such as heavy industries and IT rather than oil as they plan.

Many quesstions. Few answers. Time would tell.

Hello all,

Here is my take on Transcorp.

1. IPO is not due out earlier than first quarter of '06.
2. They raised money through private placement between the 3rd and 4th quarter of this year.
3. They might still be raising money, contact your stock broker for detail. I do not see a closing date on the prospectus.
4. There is a minimum amount according to the prospectus.
5. We can only hope and pray that this will turn the Nation around.
6. There is a risk factor in every business, the reward is either profit or loss.

Kind regards to all members.

I think the transcorp idea is a good one.However,i observe that most writers on this forum have not emphasised the fact that the name itself reflects what its vision should be,which should be a company that TRANSverses national and international boundaries in order to make investments through the employment of workable CORPrate strategies.
As such the limitation of the company and it's down fall will be in targetting the nigerian market alone,of which the end result will be monoploy in the early stages and then inefficiency in its latter stages,which will ultimately lead to a loss of vision and eventual death of the company.The focus of the company therefore should extend beyond Nigeria and transverse firstly,the west African sub-region,then secondly,the African continent and then branching out into other continents from a selected continent as take off point.This was how the conglomerates mentioned in other previous postings achieved their dreams.We can NEVER gain the economic power we crave,neither can we achieve any respect in the global playing field if we don't make substantive investments in other countries and regions of the world.Always remember that any dream that is not global is destined to die a natural death.