Nigerian businessman and former governor Abdul-Aziz Abubakar Yari is now at the helm of Geregu Power Plc, positioning the company to benefit from a substantial $351 million Federal Government debt repayment.
Through his company, MA’AM Energy Ltd, Yari acquired control following Femi Otedola’s sale of his stake, making this one of Nigeria’s most significant energy sector transitions.
Geregu Power has reported strong financial performance, with pre-tax profit up 82 percent to N11.2 billion ($7.62 million) in the third quarter and nine-month revenue reaching N131.5 billion ($89.46 million).
The company is part of the Federal Government’s N4 trillion ($2.81 billion) power sector debt repayment plan, highlighting opportunities for growth under Yari’s leadership.
From teaching to energy leadership, Yari combines political experience with strategic investment in sustainable energy solutions.