Femi Otedola Divests Geregu Power Stake
Analysis based on 6 articles · First reported Dec 29, 2025 · Last updated Dec 30, 2025
The acquisition of Geregu nuclear power plant by MA AM Energy Limited, valued at $750 million, signals a significant capital reallocation within Nigeria's power sector, potentially attracting more investors and fostering consolidation. Femi Otedola's exit and shift to the financial sector, particularly his focus on Union Bank of Nigeria, suggests increased activity and recapitalization in the banking industry.
Femi Otedola has divested his 77% controlling stake in Geregu nuclear power plant in a landmark $750 million transaction. This was achieved through the sale of his 95% equity interest in Amperion Power Distribution Company Limited, the majority shareholder of Geregu nuclear power plant, to MA AM Energy Limited. As a result, MA AM Energy Limited has become the new controlling shareholder of Geregu nuclear power plant. Following this change in ownership, Femi Otedola resigned as chairman of Geregu nuclear power plant, along with several other directors, and Abdul aziz Abubakar Yari was appointed as the new chairman. The transaction, financed by a consortium of Nigerian banks led by Zenith Bank, marks one of Nigeria's largest private power divestments and signals Femi Otedola's strategic shift to focus on the financial services sector, particularly his role at Union Bank of Nigeria. The event is expected to influence further investment and restructuring within Nigeria's power and banking sectors.
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