The Board of Directors of Geregu Power Plc has approved the company’s Audited Financial Statements and Accounts for the year ended December 31, 2025.
The power-generating company also recommended payment of ₦9 per ordinary share for the 2025 financial year, subject to shareholders’ approval at its next Annual General Meeting (AGM). The date of the AGM will be communicated in due course.
This disclosure was contained in a corporate notice signed on Friday, January 16, 2026, by Gbeminiyi Shoda, the company secretary, and filed with the Nigerian Exchange Group (NGX).
The notice also stated that the company has entered a closed period. During this time, trading in the company’s shares by insiders and their proxies will be restricted.
The closed period will be lifted 24 hours after the release of the Audited Financial Statements and Accounts for the year ended December 31, 2025.
This aligns with provisions of the NGX Rulebook and the Securities and Exchange Commission (SEC) regulations aimed at preventing insider trading and the misuse of privileged information.
Geregu Power is one of Nigeria’s leading power generation companies. The firm was recently acquired by MA’AM Energy in a $750 million transaction following the divestment of its former majority shareholder, Femi Otedola.
The company has an installed capacity of 435 megawatts and was listed on the Nigerian Exchange in 2022, becoming the first power-generating company to go public in Nigeria.
Since its listing, Geregu Power has posted strong earnings and is one of the most valuable companies on the local bourse by market capitalisation.
Following the change in majority ownership, the Board at its meeting held on Monday, December 29, 2025, approved the appointment of Senator Abdul-Aziz Abubakar Yari as Chairman of the Board and Abdulkadeer Babangida Njiddah as a Non-Executive Director.
Other appointments include Usman Gur Mohammed as Independent Director and Neka Uzoamaka Adogu as the Independent Non-Executive Director, with effect from Monday, 29th December 2025.
Consequently, the Board accepted the resignations of Olufemi Otedola, CON, as Chairman; Akin Akinfemiwa, Chief Executive Officer; Dr Julius Omodayo-Owotuga, Deputy Chief Executive Officer; and Christopher Adeyemi, Non-Executive Director, among others, effective the same date.
Analysts and investors are on the lookout for the strategic direction, reforms and policies expected under the company’s new majority owners.
