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Femi Otedola confirmed he sold his Geregu Power stake to fund a $100 million investment in the Dangote Petroleum Refinery IPO as demand for the offering approaches $2 billion.
Geregu Power’s N9 dividend hands Ma'am Energy a N17.325 billion payout, boosting Abdulaziz Yari’s profile in Nigeria’s power sector.
President Bola Ahmed Tinubu sent birthday wishes to Geregu Power chairman Femi Otedola, applauding his “visionary entrepreneurship,” energy-sector investments, and philanthropy in education, healthcare, and youth programs.
Geregu Power, under Femi Otedola’s leadership, forecasts record 2025 earnings of ₦44 billion ($29 M), signaling strong revenue growth amid Nigeria’s power challenges.
This brings his fortune to $1.6 billion, cementing his position as one of Africa’s richest and most influential businessmen.
Earlier this year, Otedola received an additional $33 million from his power-generating company, Geregu Power.
Otedola is the chairman of Geregu Power Plc, a publicly traded power generating company.
Geregu Power is 80-percent owned by Otedola.
The company has an implied valuation of $579 million.