Femi Otedola Sells Majority Stake in Geregu Power for $750 Million

Nigerian billionaire investor Femi Otedola has divested his 77% stake in Geregu Power Plc for $750 million, making it one of the largest power sector divestments in Nigeria's history. The transaction, executed on December 29, 2025, saw Otedola sell his stake to Amperion Power Distribution Company Limited.

The deal was led by a financial consortium of Nigerian banks, with Zenith Bank and Blackbirch Capital acting as financial advisors. Otedola's exit from Geregu Power signals a strategic shift in the financial sector, as he remains a significant shareholder in First Bank Nigeria.