Revenue edges up to 57.4 million, driven by consistent income from energy sales and capacity charges, despite a tough operating environment.
Profit holds steady at 13.22 million, with earnings per share nearly flat year-over-year, signaling financial resilience.
Total assets grow to 175.3 million, while retained earnings dip slightly due to a 14.4 million dividend payout.
Geregu Power Plc, one of Africa's key electricity producers, led by Nigerian billionaire Femi Otedola, reported a solid financial showing for the first half of 2025. The company posted revenue of more than 57 million for the six months ended June 30, a slight but steady rise from the same period last year.
Revenue rises, profit holds steadyAccording to the group's latest financial statements , revenue rose from N80.67 billion 52.84 million in the same period last year to N87.63 billion 57.4 million this year. The increase was driven by stable earnings from both energy sold and capacity charges, helping the company maintain its financial footing in a challenging power sector.
While revenue climbed, profits remained largely unchanged. Geregu reported earnings of N20.18 billion 13.22 million for the period, compared to N20.11 billion 13.18 million a year earlier. Energy sales brought in N56.76 billion 37.2 million, while capacity charges added N30.86 billion 20.2 million. Earnings per share were nearly flat at N8.07 0.005286, just slightly above the N8.01 0.005247 reported in the same period last year.
Femi Otedola powers Nigerias gridFounded in 2006, Geregu Power began feeding electricity into Nigerias national grid in 2007. The 435-megawatt plant has since become a key part of the countrys power infrastructure. In 2013, Otedolas Amperion Power Distribution Company, alongside Calvados Global Services Limited and Chinas State Grid Shanghai Municipal Electric Power Company, acquired the plant as part of Nigerias power sector reforms.
Following the acquisition, the company underwent a 94 million upgrade in 2014 to bring the plant to full operational capacity. By 2021, Otedola had taken full control of Geregu Power and, in October 2022 , took the company public, making it the first power generation firm to list on the Nigerian Exchange. As of June 30, 2025, Otedola retained a 78.05 percent majority stake through Amperion.