Nigerian Billionaire Femi Otedola's Geregu Power Lifts Q3 Profit 82 To 7.6 Million

Femi Otedolas power producer, Geregu Power Plc, reported a sharp third-quarter profit jump as stronger electricity sales and capacity payments offset rising input costs. Pre-tax profit for the three months to September climbed 82 to 11.2 billion 7.62 million, according to unaudited figures released Saturday. Quarterly revenue advanced 37 to 43.8 billion 29.80 million, lifting nine-month revenue to 131.5 billion 89.46 million. The sales mix did most of the heavy lifting. Energy sales rose nearly 40 to 28.8 billion 19.59 million, while capacity charges increased 33 to 15.1 billion 10.27 million on improved plant availability and grid offtake. Costs also moved higher: cost of sales jumped 53 to 28.6 billion 19.46 million, reflecting pricier gas supply and transport familiar pain points across Nigerias generation fleet. Even with that squeeze, operating profit almost doubled to 12.5 billion 8.50 million, helped by steadier collections from distribution companies and tighter cost control outside fuel and logistics. The balance sheet crept higher. Total assets stood at 273.2 billion 185.85 million at end-September, up from 243.5 billion 165.65 million in December 2024. Trade receivables remained the biggest line item a reminder that liquidity across the power value chain still depends on timely remittances from buyers. For Otedola, who steered Geregu to the Nigerian Exchange in 2022 and has shifted his portfolio toward energy infrastructure and finance, the numbers extend a post-listing run built on disciplined generation and predictable capacity income. Geregus model sell dispatched megawatt-hours, earn for available capacity, keep plants running is straightforward executing it inside Nigerias complex market is not. Gas invoicing, currency swings and transmission bottlenecks still test margins. Nine-month pre-tax profit reached 37.5 billion 25.51 million. With the company already close to last years full-year tally, investors will watch whether the fourth quarter can hold the line on fuel costs and collections. Otedola has framed power as a long-cycle bet on industrial demand. This quarters print backs that view: higher output and dependable capacity fees can outrun cost inflation provided cash keeps flowing through the system and gas shows up when scheduled.