Transcorp affirms commitment to expansion after Q1 profit rise Transcorp acquired two state-owned power assets – Afam Power Plant Plc and Afam III Fast Power Limited – for N105.3 billion. ADVERTISEMENT Transnational Corporation of Nigeria (Transcorp) Plc has said it will continue to pursue expansion in accordance with its mission to improve lives and transform Nigeria. The conglomerate noted in a press release seen by PREMIUM TIMES that shareholders expressed confidence in its board and leadership at its recently held 15th annual general meeting, which followed a jump of 2,427 per cent in the first quarter profit. Transcorp acquired two state-owned power assets – Afam Power Plant Plc and Afam III Fast Power Limited – for N105.3billion, bringing its installed capacity to 2,000 megawatts.