Echotitbits – Nigeria News

Tag: Geregu Power

  • Geregu Power Plc Names Sean Manley as Interim Chief Executive Officer

    Geregu Power Plc Names Sean Manley as Interim Chief Executive Officer

    Leadership reports that Geregu Power Plc appointed Sean Manley as Interim Chief Executive Officer, effective February 2, 2026.

    The appointment is reportedly subject to approval by the Nigerian Electricity Regulatory Commission (NERC). Manley is described as having more than three decades of experience in the power sector, including work at Siemens on thermal power projects.

    The Punch and ThisDay also covered the development, noting positive investor sentiment and expectations that his international experience could support technical partnerships and operational upgrades.

    Echotitbits take: Interim CEO appointments usually signal a board prioritizing continuity and operational discipline while it searches for a permanent successor. For Geregu, the near-term market signal will be measurable improvements in availability, heat-rate performance, and maintenance execution—especially as power-sector reform pressures increase.

    Source: BusinessDay – https://businessday.ng/companies/article/geregu-taps-siemens-energys-sean-manley-as-interim-ceo-to-spearhead-new-growth-strategy/ 2026-01-30

    Photo Credit: BusinessDay

  • Geregu Power Control Shifts as MA’AM Energy Takes Majority Stake

    Geregu Power Control Shifts as MA’AM Energy Takes Majority Stake

    2025-12-30 14:30:00

    According to Punch, MA’AM Energy has taken control of 77% of Geregu Power Plc following a restructuring that ends billionaire Femi Otedola’s indirect controlling interest.

    The report said the shift followed changes around the majority shareholder structure and noted the transaction was not presented as a direct share sale on the NGX.

    Geregu’s update cited in Punch said the transfer changes the controlling interest and sets up a new governance posture for one of Nigeria’s key listed generation assets.

    Premium Times reported the ownership shift and cited a source saying the deal “was valued at $750 million.” In the corporate update referenced by Punch, Geregu Power stated: “As a result of this transaction, the indirect controlling interest… has been transferred to MA’AM Energy Limited.”

    Echotitbits take: This is a strong signal that investors see real value in listed power assets. Watch for (1) capex commitments by the new controller, (2) governance changes, and (3) whether the move reshapes market expectations for other energy listings.

    Source: The Punch — December 30, 2025 (https://punchng.com/otedola-cedes-geregu-power-control-to-maam-energy/)

    The Punch 2025-12-30

    Photo Credit: The punch