GereguPower Plc is pioneering progress and possibility, by providing the right infrastructure and expertise to build a robust sustainable power generation structure across Nigeria.GereguPower lists 2.5 bln shares on Nigerian Exchange, boosts market cap. October 6, 2022 10:28 am. Nigerian billionaire Femi Otedola has sold his controlling stake in GereguPower Plc, one of Nigeria’s key electricity producers, in a $750 million deal. The Chairman ofGereguPower Plc disclosed this after a meeting with Lagos State Governor, Mr Babajide Sanwo-Olu, and the President of the AfDB, Dr Akinwumi Adesina. This is expected to transform Lagos’s power sector value chain, Nigeria’s economic capital and leading... Independent Newspaper Nigeria.Otedola Exits GereguPower as MA’AM Energy Emerges as Beneficial Owner of 73.15% Stake. Recently, GereguPower Plc, Nigeria’s first listed power generation company, notified the Nigerian Exchange Limited (NGX) and the investing public regarding a change in its shareholding structure. Femi Otedola powersNigeria’s grid. Founded in 2006, GereguPower began feeding electricity into Nigeria’s national grid in 2007. The 435-megawatt plant has since become a key part of the country’s power infrastructure. GereguPower Plc, Nigeria’spremierpower-generating company, has reaffirmed its commitment to bolstering the nation’s power sector with an investment of $550 million aimed at plant transformation and capacity expansion. GereguPower, the electricity utility that billionaire investor Femi Otedola took public in October 2022, announced a change in its ownership on Monday, following a board meeting in which the tycoon revealed the divestment of his controlling stake.