Geregu Power Posts N41.99bn Pre-tax Profit In 2025

Geregu Power Plc has reported profit before tax of N41.99 billion in its financial results for the year ended December 31, 2025.

The company’s audited yearly results released on the Nigerian Exchange yesterday showed strong revenue growth, improved operating profit and a significantly expanded balance sheet.

The power generation company recorded revenue of N184.94 billion in 2025, representing a 34.8 per cent increase from N137.13 billion in the prior year. The strong topline performance reflected higher energy sales and improved operational efficiency during the year.

Cost of sales rose to N110.73 billion from N74.40 billion, but this was outpaced by revenue growth, resulting in gross profit increasing to N74.21 billion in 2025, compared with N62.73 billion in 2024.

After accounting for other income of N1.80 billion, administrative expenses of N17.82 billion and impairment charges on financial assets of N10.05 billion, operating profit rose to N48.15 billion, up from N42.95 billion recorded in the previous year.

Profit before income tax improved to N41.99 billion, compared with N41.27 billion in 2024, while profit after tax stood at N27.25 billion.

Earnings per share moderated slightly to N10.90 from N10.97 in 2024, reflecting stable profit performance during the year.

On the balance sheet, total assets expanded significantly to N305.01 billion as at December 31, 2025, from N243.47 billion a year earlier. Total equity increased to N58.63 billion from N52.56 billion, supported by retained earnings growth to N57.34 billion.

It will be recalled that in December 2025, the former chairman of Geregu Power, Femi Otedola sold his majority stake in Geregu Power Plc for N1.088 trillion in a deal financed by a consortium of banks led by Zenith Bank Plc.

A statement signed by the Structure HQ’s Company Secretary, Gbeminiyi Shoda, and released on the Nigerian Exchange said, “the Board of Directors of Geregu Power notifies the Exchange and the investing public that it has received formal communication from its majority shareholder, Amperion Power Distribution Company Limited, regarding a change in its shareholding structure.

“The Company has been informed that Amperion Power Distribution Company Limited has undergone a restructuring of its ownership following a share sale and acquisition concluded on December 29, 2025.

“As a result of this transaction, MA’AM Energy Limited has acquired 95 per cent equity interest in Amperion Power Distribution Company Limited thereby becoming the new controlling shareholder of Amperion Power Distribution Company Limited.

“Consequently, the indirect controlling interest previously held by Calvados Global Services Limited and Femi Otedola in Geregu Power has been transferred to MA’AM Energy Limited.”

It added that “this lead to change in the ownership of the Company’s majority shareholder results in a change in the ultimate beneficial ownership of 77 per cent of the Company’s issued share capital.”

It stated further that “following the above change in the ultimate beneficial ownership of the Company’s issued share capital, the board of directors at its meeting held on December 29, 2025 considered and approved the appointment of Senator Abdul-Aziz Yari as the chairman and Abdulkadeer Njiddah as the non-executive director, while Usman Mohammed, Mohammed Jaafaru, Neka Adogu and Mahmud Magaji as the independent non-executive directors of the Company.”

The statement said, the Board is confident that the appointments will strengthen the governance structure and strategic direction of the Company.