MA’AM Energy Limited has acquired majority shareholding in Geregu Power Plc, boosting the power sector.
Stakeholders in the capital market welcomed the takeover as a major industry milestone.
Minority investors and market operators expressed optimism about potential growth and value creation.
The transaction marks a new era for Nigeria’s power generation and distribution landscape.
Geregu Power’s board disclosed that Amperion Power, owned by Femi Otedola, restructured its ownership.
MA’AM Energy acquired a 95 percent equity interest in Amperion Power Distribution Company.
This indirectly transferred controlling interest in Geregu Power, affecting 77 percent of its shares.
The $750 million acquisition was financed by Nigerian banks with Blackbirch Capital advising.
Experts say the transaction sets a benchmark for valuations of power-generating companies.
Kehinde Hassan of GTI Capital highlighted its potential to reshape mergers, acquisitions, and asset pricing.
He noted the deal signals strong private equity potential in Nigeria’s electricity market.
Hassan observed that it could stimulate further GenCo and DisCo acquisitions nationwide.
Minority shareholder representatives anticipate stronger value creation under MA’AM Energy’s leadership.
Moses Igbrude urged the new owners to practice good governance for stakeholder benefit.
Dr Faruk Umar described the transaction as symbolic for the economy and capital market.
He encouraged inclusive engagement and fair stakeholder management under the new board.
The new board is led by Senator Abdul-Aziz Yari, with experienced professionals in finance and operations.
Outgoing executives Akin Akinfemiwa and Dr Julius Omodayo-Owotuga will support the management transition.
Geregu Power reported N131.47bn revenue in Q3 2025 with total assets reaching N273.15bn.
For Q1 2026, the company projects N57.12bn revenue and N12.03bn profit after tax.
Overall, the acquisition strengthens investor confidence and positions the Nigerian power sector for growth.
