Billionaire investor Femi Otedola has officially exited his controlling interests in Geregu Power Plc with a landmark divestment valued at about $750 million (approximately ₦1.088 trillion). According to filings on the Nigerian Exchange (NGX), Otedola’s indirect 77 per cent stake — held through Amperion Power Distribution Company Limited — was acquired by MA’AM Energy Limited, an Abuja-based energy firm, in a transaction completed on December 29, 2025. The change in beneficial ownership was confirmed as part of a broader restructuring that did not directly transfer Geregu’s listed shares but shifted ultimate control to the new investor group. Senator Abdulaziz Abubakar Yari has been named the new chairman of the board as part of the leadership transition.
There’s a quiet narrative beneath this multi-hundred-million-dollar exit that speaks to both value creation and evolution. Otedola, who first acquired Geregu during Nigeria’s power sector privatisation journey and nurtured the company into one of the country’s most profitable generation firms, chose this moment to reallocate capital into other strategic arenas — including banking and broader financial services. This divestment marks not just a financial milestone, but a chapter closing and a door opening in a landscape where investors grow alongside the sectors they help shape. It invites a moment of reflection on ambition and legacy, asking gently: when a builder steps back from what they once held tightly, what new possibilities are they framing for themselves — and for the industry they leave behind?
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