MA’AM Energy's Acquisition Brightens Future for Geregu Power in Nigeria's Energy Sector

MA’AM Energy Limited, an Abuja-based integrated energy company, has acquired a significant stake in Geregu Power Plc, a leading power generation company in Nigeria. The acquisition, valued at over N1.1 trillion, saw MA’AM Energy indirectly take control of Geregu Power through its ownership of Amperion Power Distribution Company Limited.

This move follows a restructuring of ownership previously held by Lagos billionaire Femi Otedola. Geregu Power, known for its clean energy sources, reported impressive financial figures with total revenue of N131.47 billion and pre-tax profit of N37.46 billion in the third quarter of 2025.