Nigerian Billionaire Femi Otedola Exits Power Sector in $750M Deal
Nigerian billionaire Femi Otedola has exited the power sector through a landmark $750 million transaction, selling his 77% control stake in Geregu Power PLC to MA Energy Ltd. The deal involved transferring Otedola's 95% stake in Amperion Power Distribution Company Limited to MA Energy, indirectly shifting control interests.
Otedola's involvement in the energy sector dates back to 1999, with his leadership in Zenon Petroleum & Gas. The transaction, completed on December 29, 2025, was facilitated by a financial consortium led by Nigerian banks.
Geregu Power, valued at N2.85 trillion, trades at N1,140 per share on the NGX.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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