Dr. Awele Elumelu, the wife of Transcorp Group chair Tony Elumelu and Chairman of Transcorp Hotels Plc, says she is proud to be the first woman to chair the company’s annual general meeting.
The 12th annual general meeting was held in Abuja on Thursday.
In a post on her Instagram page on Friday, Mrs. Elumelu wrote, “Proud to chair the @transcorphotelsplc AGM as the first female Chair.”
She congratulated the managing director, Uzoamaka Oshogwe, and the management team on the company’s performance, stating that profit before tax rose from N22.6 billion to N32.8 billion, while the dividend increased to N1.30 per share.
At the meeting, Elumelu said the company recorded N97 billion in revenue for the 2025 financial year, representing a 38 percent increase from the previous year.
She said the company declared a final dividend of N1.30 per share.
She attributed the performance to shareholder support, management efforts and corporate governance.
She said the company invested in its event centre with a capacity of 5,000 and hosted events including the Afrexim event which attracted about 4,000 participants.
She added that digital upgrades in rooms and services contributed to revenue growth.
In a statement issued after the meeting, Transcorp Hotels Plc said it successfully hosted its 12th annual general meeting and used the forum to review its financial performance and operations.
“Today, we successfully hosted the 12th Annual General Meeting of Transcorp Hotels Plc, a moment to reflect on a year defined by growth, resilience, and meaningful progress,” the statement reads.
The company said it highlighted its financial results and operational activities during the year and thanked shareholders for their participation and support.
It stated that engagement at the meeting would guide its plans going forward.
Elumelu said the board would continue to invest in infrastructure, technology and diversification in 2026, including plans to establish a branch in Lagos.
Managing director Uzoamaka Oshogwe said total dividend payout for the year stood at about N13 billion.
She said occupancy rates improved from mid-January and reached full capacity.
Mrs. Oshogwe said the company was working with Transcorp Power and Transcorp Energy on energy supply, including the use of gas-powered systems and renewable energy options.
She added that capital allocation would focus on projects with revenue potential.
Transcorp Hotels Plc reported profit before tax of N22.613 billion for the year ended December 31, 2024.
Total assets rose to N140.696 billion, while total borrowings declined. Interest expenses also reduced during the period.
Awele Elumelu was appointed chairman of the board in December 2025.
Transcorp Hotels Plc is a subsidiary of Transnational Corporation Plc.
