Femi Otedola Sells Company's Shares for Over N1 trillion

 Femi Otedola has sold his controlling stake in Geregu Power Plc in a N1.088 trillion ($750 million)

The deal was financed by a consortium of banks led by Zenith Bank, with MA’AM Energy Ltd

The transaction does not involve a direct sale of Geregu Power Plc shares, meaning Otedola retains a minority stake

Nigerian billionaire Femi Otedola has sold his controlling stake in Geregu Power Plc in a N1.088 trillion ($750 million) transaction financed by a consortium of banks led by Zenith Bank Plc, according to filings with the Nigerian Exchange (NGX) and people familiar with the deal.

The NGX said on Monday, December 29 that Amperion Power Distribution Company Ltd, which held nearly 80% of Geregu Power, has changed ownership.Geregu Power clarified that the transaction involved the sale of shares in Amperion and did not entail a direct transfer of Geregu Power Plc shares, meaning the company’s public shareholding structure on the NGX remains unchanged.

However, the ultimate beneficial ownership of about 77% of the power producer has shifted.

Nairametrics reports that the deal closed on December 29, 2025, with Blackbirch Capital acting as financial adviser.

Geregu Power is currently valued at about N2.85 trillion and trades at roughly N1,140 per share, making it one of the most capitalised firms on the exchange.

Otedola, who will retain a minority interest in Geregu, is expected to focus on expanding his investments in Nigeria’s banking sector, The Cable reports.