Prime Business Africa
Femi Otedola, the chairman and majority shareholder of Geregu, has reduced his stake in the power-generating company, as he sold 4.29 million shares via a cross-deal stock transaction on November 11.
Prime Business Africa gathered that Otedola sold the 4.29 million shares through his investment vehicle, Amperion Power Distribution Company Limited, to take out N4.41 billion from Geregu.
Join our WhatsApp ChannelThis is the third time Otedola is selling parts of his shares in Geregu in the fourth quarter of 2025, after participating twice in a cross-deal stock transaction in October and September.
On October 20, Otedola sold 9,03 million shares in Geregu to take out N9.28 billion, and on September 29, the billionaire sold 1.16 million shares, valued at N1.19 billion.
This indicates Otedola has taken out N14.89 billion from his investment in Geregu within three months after selling 14.49 million shares.
Prime Business Africa notes that Otedola’s shareholding in Geregu has reduced from 1,909,709,273 shares prior to the September transaction to 1,895,214,663 shares as of November 20.
Otedola’s investment value is Geregu is now worth N2.16 trillion, according to Prime Business Africa’s analysis.
The sell-off by the businessman, who is also the chairman of First HoldCo, comes at a period when Geregu is struggling to attract equity investors in the Nigerian stock market.
Year-to-date, the share price of Geregu has declined by 0.73 percent, trading flat at N1,141.50 kobo per share since March 14, while trading flat at N1,150 per share between January 2 and March 13, according to data obtained from Afx Kwayisi.
The decline in the share price has also reduced Geregu’s market valuation on the Nigerian stock market, as it dropped from N2.87 trillion at the start of the year to N2.85 trillion as of November 21.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
