Nigerian billionaire Femi Otedola has exited Geregu Power Plc following a landmark $750 million divestment, marking one of the biggest private-sector exits in Nigeria’s power industry. The transaction ends Otedola’s long-standing involvement in the power generation firm.
Titansloaded reports that the deal was completed on December 29, 2025, with MA’AM Energy Limited acquiring Otedola’s indirect controlling stake in Geregu Power through the purchase of his shares in Amperion Power Distribution Company Limited.
The sale involved Otedola’s 95 per cent stake in Amperion Power, which holds a majority interest in Geregu Power. This effectively transferred about 77 per cent controlling interest in the power company to MA’AM Energy.
Despite the ownership change at the holding-company level, Geregu Power’s shareholding on the Nigerian Exchange remains unchanged, as no direct shares of the company were traded on the exchange during the transaction.
Under Femi Otedola‘s leadership, Geregu Power Plc evolved into one of Nigeria’s most efficient power generation companies, contributing roughly 10 per cent to electricity supplied to the national grid and strengthening generation capacity.
The $750 million exit caps a 12-year investment journey that began during Nigeria’s power sector privatisation. Industry analysts view the deal as a strong signal of value creation and growing investor confidence in Nigeria’s energy sector.
MA’AM Energy, an Abuja-based integrated energy company, is expected to drive the next phase of growth for Geregu Power, focusing on operational efficiency and long-term expansion within Nigeria’s evolving power landscape.
