Skip to content
Abdulaziz Yari holds a roughly $400 million paper gain on his Geregu Power stake despite a 28 percent share price slide, because he bought at a discount.
Senator Abdulaziz Yari has denied any connection to N4 billion in gold bars seized at Kano airport and threatened legal action against those making the allegations.
Abdulaziz Yari became Geregu Power chairman after spending N1.08 trillion ($793 million) on the acquisition as a civil society group links him to illegal gold mining.
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.