Transcorp CEO Owen Omogiafo Urges Faster Energy Access to Power Africa’s Economic Growth
The President and Group Chief Executive Officer of Transcorp Plc, Dr. Owen Omogiafo, has called for urgent action to improve energy access across Africa, stressing that the continent must accelerate its energy expansion to achieve inclusive and sustainable growth. Speaking at the ninth edition of the Future Investment Initiative (FII9) in Riyadh, Saudi Arabia, she emphasized that energy poverty remains a critical barrier to Africa’s economic transformation.
Addressing a global audience of industry leaders during the plenary session titled “Board of Changemakers: The Energy Trilemma,” Dr. Omogiafo highlighted the need for practical solutions to bridge Africa’s energy gap. She noted that Transcorp, an indigenous conglomerate with investments in power, hospitality, and energy, is focused on driving energy transformation in Nigeria and across the continent. “It is not just about transitioning—it is about ensuring greater access to energy for all. The gap is huge, and we must address it consciously,” she said.
Omogiafo revealed that Africa accounts for nearly 80 percent of the world’s population without access to electricity, calling it a deeply troubling statistic. She linked the lack of affordable energy to growing migration trends, arguing that people often leave their homes not by choice, but because they lack basic opportunities tied to reliable power. “Affordability is key,” she explained. “In Nigeria, renewable energy isn’t always cheaper. The only exception is hydro, and that’s because the infrastructure already exists.”
During the panel, Omogiafo advocated for a balanced and pragmatic approach to energy development on the continent. She urged African nations to combine both traditional and renewable energy sources while leveraging off-grid and mini-grid technologies to meet growing demand. “It’s not an either-or situation,” she stated. “Africa must secure affordable energy today to drive industrialization and lay the foundation for a sustainable energy future.”
Dr. Omogiafo’s remarks at FII9 underscore Transcorp Plc’s leadership in Africa’s energy transformation agenda. The company continues to champion strategic, sustainable investments aimed at improving lives and powering economic development across the continent. With her call for urgent and inclusive energy expansion, Omogiafo reinforces the message that accessible power is not just an infrastructure goal—it is the cornerstone of Africa’s future growth.
source: punch