Senator Abdulaziz Yari has officially taken the helm as the new chairman of Geregu Power Plc, marking a significant leadership transition following the departure of billionaire businessman Femi Otedola. This pivotal change in the Nigerian power sector sees Otedola divest his substantial 77 percent controlling stake in the prominent power generation company. The transaction was executed through the sale of Otedola’s 95 percent stake in Amperion Power Distribution Company Limited to MA’AM Energy Ltd, a Nigerian integrated energy firm. This development signals a new era for Geregu Power Plc, a company that has consistently demonstrated profitability and a significant contribution to the national grid. The firm’s valuation currently stands at N2.85 trillion, with shares trading at N1,140, solidifying its position as a highly capitalized entity on the Nigerian Exchange. The company’s journey from 40MW to a nameplate capacity of 435MW underscores its growth and operational success over the years. Recent financial reports indicate an average of N20 billion in annual dividends, a testament to its robust financial performance and shareholder value. The strategic move by Otedola represents a considerable shift in the ownership structure of one of Nigeria’s key power assets. MA’AM Energy Ltd, the acquiring entity, is recognized for its expertise in electricity generation, supply, energy trading, and marketing. The transaction, which concluded on December 29, 2025, was supported by a consortium of Nigerian banks, notably Zenith Bank, with Blackbirch Capital providing crucial financial advisory services. This infusion of new leadership and ownership is expected to shape the future trajectory of Geregu Power Plc. The appointment of Yari as chairman, alongside new independent non-executive directors, indicates a strategic realignment of the company’s governance and operational focus. The company’s consistent profitability and its substantial contribution to the national grid, now at approximately 10 percent, highlight its importance within Nigeria’s energy landscape. The scale of Geregu Power’s operations, from its initial 40MW capacity to its current 435MW, demonstrates a strong track record of expansion and efficient management. The financial implications of Otedola’s exit and MA’AM Energy’s acquisition are substantial, positioning the company for continued growth and impact. The board’s decision to appoint Yari and the new directors reflects a forward-looking approach to management and strategic planning. The company’s consistent dividend payouts further emphasize its commitment to delivering value to its shareholders. This transition is a significant event in the Nigerian corporate and energy sectors. The company’s consistent profitability and its substantial contribution to the national grid, now at approximately 10 percent, highlight its importance within Nigeria’s energy landscape. The scale of Geregu Power’s operations, from its initial 40MW capacity to its current 435MW, demonstrates a strong track record of expansion and efficient management.
