Nigerian Stock Market Hits N100 Trillion Market Cap, Billionaire Otedola Sells Geregu Power Stake

The Nigerian Stock Market reached a milestone of N100 trillion market capitalization, driven by positive investor sentiment and sustained buying interest across key sectors. Five companies topped the gainers' table, including strong performers in banking, consumer goods, industrial, and oil and gas sectors.

Billionaire Femi Otedola sold his control stake in Geregu Power Plc (NGX: GEREGU) for N1.088 trillion to a financial consortium led by banks. This ownership transfer saw Amperion Power Distribution Company Ltd acquiring a 95% equity interest in Amperion, effectively changing the control of Geregu Power.