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.

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According to the company’s statement, the dividend will be paid to shareholders listed in its register of members as of the close of business on March 13, 2025.

The shareholder register will be closed on March 14, 2025, while dividend payments are scheduled for March 28, 2025.

Geregu Power has urged shareholders who have yet to complete their e-registration process to do so to ensure they receive their payments promptly.

The dividend declaration comes on the back of a commendable financial performance in 2024, with the company posting a post-tax profit of N27.4 billion, a 71% increase from the N16.0 billion recorded in 2023. Revenue also surged by 65.3% to N137.1 billion, compared to N82.9 billion in the previous year.

As one of Nigeria’s leading power generation companies, Geregu Power has consistently delivered profits for five consecutive years.

The N8.50 per share dividend is an increase from the N8.00 per share paid in 2023, reiterating the company’s focus on delivering value to its stakeholders.

The company also noted that unclaimed dividends are being held by its registrar, Meristem Registrars and Probate Services Limited, for shareholders who are yet to mandate their share accounts.

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The All-Share Index and market capitalization shed 3.44 percent week-on-week to 102,088.30 points and N55.86tn, respectively, on the back of weak sentiment, which was spurred by higher yields outlook in the fixed-income market.

The equity market has also witnessed portfolio rebalancing ahead of expected corporate earnings and the outcome of the Monetary Policy Committee meeting scheduled for Monday and Tuesday.

A look at the sectoral balance indicated that the insurance and industrial goods sectors were the least-performing indexes as they pared the previous week’s gains by 8.91 percent and 7.94 percent, trailing the banking index which closed the week in a weak region by 2.10 percent due to a sell-off in some bellwether banking stocks.

However, the Consumer goods (2.01 percent) and the Oil & Gas sectors (0.01 percent) experienced an upswing as investors showed further interest across those indices.

Trading activities throughout the week were also characterized by waning sentiments as a total turnover of 1.377 billion shares worth N31.58bn was traded in 42,040 deals, lower than 1.559 billion shares valued at N36.50bn that exchanged hands in 42,546 deals in the previous week.

In terms of Measurement by volume, the financial services industry led the activity chart with 960.519 million shares valued at N16.84bn traded in 19,669 deals, contributing 69.77 percent and 53.33 percent to the total equity turnover volume and value, respectively.

The conglomerate industry followed with 115.241 million shares worth N1.51bn in 2,859 deals, whilst the third place was the oil and gas industry, with a turnover of 80.866 million shares worth N1.72bn in 2,726 deals.

Trading in the top three equities namely Guaranty Trust Holding Company Plc, FBNHoldings Plc, and Transnational Corporation Plc (measured by volume) accounted for 343.584 million shares worth N9.43bn in 5,659 deals, contributing 24.96 percent and 29.86 percent to the total equity turnover volume and value, respectively.

Recall that last week, 14 equities appreciated; lower than 35 equities in the prior week, and 66 equities dipped; higher than 51 in the previous week, 74 equities remained unchanged, higher than 68 recorded in the previous week.

At the close of the week, Juli Plc, FBN Holdings, Geregu Power, and BUA Foods were investors’ toasts amid the cherry-picking activities as their share prices advanced by 59.18 percent, 10.71 percent, 9.32 percent, and 6.27 percent, respectively.

The laggards for the week were Morison Industries Plc, which lost 32.66 percent to close at N1.67; Consolidated Hallmark Holdings Plc lost 19.35 percent to close at N1.25 and Sterling Financial Holdings Company Plc lost 18.69 percent to close at N4.35.

The post NGX: Equity Market Loses N2trillion appeared first on Tech | Business | Economy.

Dangote Cement, MTN Nigeria had dragged the market to a N1.82tn loss on Monday.

However, Eterna, Veristask, and Geregu top the gainer’s table with 6.17%, 5.9%, and 3.6% respectively. While Honeyflour, Buacement and Pz experience decline.

Accordingly, the bearish run continued on Tuesday as the NGX benchmark index, the All-Share Index, and the market cap declined by 1.30 percent to 101,060.67 points and N55.298tn, respectively.

However, the market’s year-to-date return also slipped further to 35.16 percent from 36.94 percent in the previous day.

The bearish trend was a result of sell-offs recorded in medium to penny stocks. At the close of trading, eight equities recorded gains while 43 suffered losses.

The losers’ chart was topped by Honeywell Flour Mills, which lost 10 percent to close at N3.60; BUA Cement shed 9.98 percent to close at N142.95 and PZ Cussons, which posted a negative asset value in its half-year report, dipped by 9.75 percent to N27.30.

Trading activity further dipped, as the total deals, volume, and value recorded significant declines.

The total deals fell by 9.34 percent, totaling  8,783 trades, while the total volume and value were down by 6.46 percent and 10.90 percent to 256.16 million units and N6.63bn, respectively.

The number of stocks traded on Tuesday closed at 118. Keeping to the trend of the market, four out of the five sectoral sub-indexes closed in the red zone. The sole gainer for the day was the Oil&Gas sector driven by Eterna Plc.

The volume and value drivers of the NGX day’s market trend were led by stocks of United Bank for Africa, Geregu Power, and Transcorp Plc.

While Transcorp was the most traded security in terms of volume with 39.75 million units, changing hands in 640 trades, Geregu Power was the most traded in terms of value, amounting to N1.11bn.

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