Nigeria: Up-Close – Meet the New Owners of Geregu Power

In a note to the Nigerian Exchange Limited, Geregu Power stated that it has been formally notified by Amperion Power Distribution Company of the share sale to Ma’am Energy Limited.

Geregu Power, 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.

In a note to the Nigerian Exchange Limited, the company stated that it…