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Geregu Q1’24 revenue soars by 254%

One of Nigeria’s power-generating company, Geregu Power Plc, has announced a 254.37 per cent year-on-year appreciation in its revenue to N50.42bn in the first...
Business

Geregu Power Plc reports N55.75bn revenue in 9 months, grows profit by 13.26%

The company reported revenue of N55.747 billion for the 9 months period, up by 42.93% from N39 billion reported the previous year.Profit after tax...
Business

Geregu net profit drops by 11.51% in H1 2023, debt blocks dividends to shareholders

Geregu Power Plc’s revenue in the first half (H1) of 2023 rose to N34.69 billion, the electricity firm revealed in its H1 financial report...
Business

Femi Otedola sells shares in Geregu after Transcorp rejects his N250 billion acquisition offer

The majority shareholder of Geregu Power, Femi Otedola, has sold part of his shares in the power firm, weeks after exiting Transnational Corporation (Transcorp)...
Business

Billionaire, Femi Otedola, shades Buhari, Jonathan over Nigeria’s poor power supply

Billionaire and chairman of Geregu Power, Femi Otedola, has ridiculed past and present Nigerian governments for failing to increase Nigeria’s power generating capacity.Otedola said...
Business

Otedola earns N74.05bn after Afreximbank deal, Geregu eyes trillionaire stock list

The founder of Geregu Power Plc, Femi Otedola, saw his investment value in Geregu rise by 13.83 per cent after selling five per cent...
Business

Femi Otedola’s brothers acquire stake in Geregu Power

The relatives of Femi Otedola, the majority shareholder of Geregu Power Plc, have acquired millions of shares in the electricity company.Paul Olurotimi Otedola and...
Business

Otedola’s Geregu budgets N40bn to acquire BPE’s power plant, faces obstacle from reps, 15 firms

Geregu Power Plc has reiterated its plan to acquire one of the power generation companies on sale from the Bureau of Public Enterprises (BPE).Femi...
Business

Otedola’s Geregu generates lowest revenue in 3 years, loses N23.33bn to Shell’s force majeure

Geregu Power Plc generated its lowest revenue in three years, Ripples Nigeria learnt on Wednesday after obtaining the company’s 2022 Full Year financials.According to...
Business

FEDA set to acquire minority stake in Geregu Power

The Fund for Export Development in Africa has said that it has received internal approvals to acquire a minority stake in Geregu Power Plc.FEDA...
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