Femi Otedola Sells Geregu Power Stake to MA'AM Energy, New Board Appointed

Billionaire investor Femi Otedola has sold his stake in Geregu Power to MA'AM Energy, resulting in a change in ownership structure and board composition. MA'AM Energy, a power solutions provider, has acquired a 95% equity stake in Amperion Power Distribution Company, thereby assuming control.

The new board appointments and changes will take effect on December 29, 2025. Otedola steps down as chairman, with Akin Akinfemiwa as the Chief Executive Officer.

This move signifies a significant shift in the energy sector landscape in Nigeria.