Prime Business AfricaFemi Otedola, the chairman of Geregu Power and First HoldCo, has lost a total of N27.8 billion year-to-date, according to an analysis of his stock market investments by Prime Business Africa.
The billionaire started the year with a net worth of N2.36 trillion, based on investments in First HoldCo and Geregu, however, the wealth depreciated to N2.33 trillion as of Thursday, May 8.
Join our WhatsApp ChannelAs of January 2, Otedola held N119.39 billion in First HoldCo, but the wealth fell to N108.17 billion, while his fortune in Geregu dropped from N2.24 trillion to N2.22 trillion during the period under review.
Further breakdown of his investment in First HoldCo showed that the businessman lost N11.21 billion year-to-date, as the financial institution’s shares depreciated from N28.20 kobo on January 2 to N25.55 kobo on May 8.
The 9.39 per cent decline in the company’s share price, which led to the loss recorded by Otedola, indicated First HoldCo’s shares were not sought after as a decrease in its bottom line for Q1 2025 impacted stock market investors’ confidence.
Prime Business Africa gathered that a 60.98 per cent increase in net interest income was not enough to prevent First HoldCo from recording a 17.78 per cent decline in its profit after tax, which dropped from N208.11 billion posted in Q1 2024 to N171.09 billion in the same period this year.
Also, Geregu’s poor financial returns in Q1 2025, which included a 37.02 percent decline in revenue and a 27.86 percent drop in profit after tax (PAT), did not sway stock market investors to be bullish on the shares of the power-generating company.
Amid the poor outing in the first quarter, Geregu struggled to entice investors in the Nigerian bourse, resulting in the company’s shares nosediving by N8.5 kobo year-to-date from N1,150 per share to N1,141.50 kobo.
Analysis showed that the 0.73 per cent decline in Geregu’s share price resulted in Otedola losing N16.58 billion in his investment in Geregu.
For press releases, tip-off, and corporate information, call 08149575257 (hotline)
Email: publisher@primebusiness.africa and editor@primebusiness.africa
