See more as Transcorp’s CEO Omogiafo advocates for equitable energy access and gender inclusion

• Transcorp CEO Owen Omogiafo has called for more pragmatic energy transition strategies that prioritise access for underserved regions
• She specifically pointed out the energy needs in Africa and advocated for more conversations on closing this gap
• Omogiafo also highlighted the transformative role of women in the energy sector and the efforts of her company in this area

Dave Ibemere, a journalist at Legit.ng, has been reporting on business for over ten years. He has deep knowledge of the Nigerian economy, stock market, and general market trends.

Owen Omogiafo, President and Group CEO of Transnational Corporation Plc (Transcorp), has called for equitable energy access and gender-inclusive leadership in the energy sector.

She stated this during the HERizon Summit, a central feature of the Future Investment Initiative (FII) currently underway in Riyadh, Saudi Arabia.

Transcorp's CEO Omogiafo speaks on energy access, transition Photo credit: Nurphoto
Source: Getty Images

Speaking as a Panellist on the topic “The Green Transition: How Can Women Power Sustainable Supply Chains?” Omogiafo stressed the importance of a pragmatic approach to the energy transition, balancing sustainability goals with the urgent need for energy in underpowered regions like Africa.

She said that there is a need for practical energy transition strategies that balance access in underpowered regions, such as Africa, where millions still lack reliable energy sources.

Omogiafo underscored Transcorp's commitment to bridging the energy gap in Africa.

She remarked:

"For Africa and many developing regions, the conversation around energy transition must prioritize access"

She remarked that millions in Nigeria and other parts of Africa lack reliable power, which has a significant impact on economic growth, healthcare, and education.

Omogiafo underscored the reliance of renewable energy technologies on fossil fuel-based infrastructure and called for a balanced, pragmatic approach that does not overlook the infrastructure crucial to many communities.

She added:

“Our focus must be on refining current systems, enhancing efficiency, and ensuring that progress towards sustainability does not ignore essential infrastructure."

Gender diversity in energy sector

Omogiafo, Transcorp’s first female group CEO, also used the summit to promote gender diversity in the energy industry.

She shared her experiences, noting how increased female representation in STEM fields is transforming traditionally male-dominated industries.

She also discussed Transcorp’s Intern X program, which introduces young women to power plant operations early in their education and inspires careers in energy and power.

Her words:

“Women are natural nurturers and have a unique leadership style that prioritizes community welfare and environmental sustainability—qualities that align well with the goals of a green transition.”

In addition to discussing Transcorp’s contributions, Omogiafo highlighted how initiatives like the Tony Elumelu Foundation Entrepreneurship Program have encouraged female participation in entrepreneurial ventures related to green energy and sustainability.

Energy transition financing

On an energy transition panel, Omogiafo stressed the importance of supporting solutions that cater to the continent’s urgent energy needs.

She said:

"We have a continent where, very frankly, energy transition is a luxury when you are poor. We need to bridge the energy poverty that exists on our continent. It’s about securing opportunities for Africa’s young people rather than pushing them towards migration for better chances.”

She shared Transcorp’s success in Nigeria, where the company has achieved a 50% market cap increase since listing its power plant earlier this year.

Omogiafo also called for a shift in language around energy transition, proposing an “energy addition” approach that bridges the gap between energy poverty and sustainable solutions.

She noted:

“Instead of energy transition, let’s talk about energy addition, where we bridge the gap between energy poverty and sustainable solutions.“A green future can only be meaningful when it is accessible to all."

In concluding her remarks, Omogiafo called on stakeholders to adopt policies sensitive to local requirements.

Tony Elumelu’s Transcorp Power acquires 60% of Abuja DisCo

In related news, Legit.ng reported that a consortium led by Transcorp Power Limited has successfully acquired a 60% majority stake in the Abuja Electricity Distribution Company (AEDC).

This development follows the transition of AEDC's ownership to the United Bank of Africa (UBA) in December 2021 due to the inability of its primary stakeholder, Kann Consortium, to settle the $122 million debt owed to the bank.

In 2013, Kann Consortium procured AEDC through financial assistance from UBA, thereby obtaining a 60% controlling interest in the distribution company.

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Source: Legit.ng