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 (NGX: GEREGU) 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.