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Otedola’s Geregu Power Generates N5bn Revenue in Electricity Sales Amid Tariff Hike [Video]

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Small Business Growth
  • Foremost power company, Geregu Power, has generated a revenue of N5 billion from the sale of electricity
  • The N2 trillion valuation company owned by billionaire Femi Otedola has remarkable growth in the first quarter of 2024
  • As the only power company listed on the NGX, the company achieved a net profit of N16.1bn, surpassing its projected N5.5bn mark

Legit.ng journalist Victor Enengedi has over a decade’s experience covering Energy, MSMEs, Technology and the stock market.

Geregu Power Plc has garnered revenue totalling N50.4 billion from the sale of electricity and capacity charges to Nigerian consumers in the first quarter of 2024.

This marks a substantial surge of 225% in contrast to the N14.2 billion accrued during the corresponding period in 2023.

In February 2024, Geregu Power, owned by billionaire investor, Femi Otedola, exceeded a N2 trillion valuation mark on the NGX.Photo credit – Femi Otedola, Geregu Power PlantSource: Facebook

Moreover, Geregu Powerachieved a profit …

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