Halal, with purification
Transcorp Power passes the business-activity screen and the financial screens under the AAOIFI Standard. Because a share of its income is non-permissible, the matching portion of any dividend you receive should be given away.
NGX: TRANSPOWER · Utilities / Power · Screened 24 Aug 2026 · H1 2026 accounts
Transcorp Power Plc generates and sells electricity in Nigeria and is a subsidiary of Transnational Corporation Plc. The company was formerly known as Transcorp Power Limited and changed its name to Transcorp Power Plc in January 2024. It is the successor entity from the merger of Transcorp Ughelli Power Limited and Ughelli Power Plc, and was incorporated in 2012 . The company is headquartered in Lagos .
It owns and operates the Ughelli Power Plant in Delta State, a gas-fired open cycle thermal plant with installed capacity of 972 MW . The plant was built in four phases: Delta I (decommissioned) had 72 MW from two Stal-Laval turbines; Delta II has 150 MW from six Hitachi H-25 turbines; Delta III has 150 MW from six Hitachi H-25 turbines; and Delta IV has 600 MW from six GE frame 9E turbines . The plant uses natural gas supplied by the Nigeria Gas Infrastructure Company as its primary fuel and is equipped with a hydrogen production plant and a demineralized water plant . It is connected to the national grid through two 330kV and three 132kV transmission lines and is capable of generating around 2,500 GWh of electricity annually .
In the first quarter of 2025, the plant added 157.58 MWh/h to the national grid, making it the top performing generation company in Nigeria for that quarter according to the NERC report . The achievement was driven by increased operational capacity, preventive maintenance, and fuel optimisation, and contributed to Nigeria's improved grid stability with zero system collapses during the quarter .
For the first quarter of 2026, the company reported revenue of N94.59 billion and profit of N39.59 billion . At its 13th Annual General Meeting, the company declared a total dividend of N41.25 billion to shareholders .
Single activity, electricity generation and sale to the Nigerian grid.
Yes, with purification. As of 24 August 2026, Transcorp Power (TRANSPOWER) is halal to own under the AAOIFI Standard, provided you purify the non-permissible portion of any dividend you receive.
The dividend is permissible to receive once purified. Qistal publishes the purification rate for the current accounts period inside your compliance report, so you can work out the exact amount to give away.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.