Nigerian businessman and former governor Abdul-Aziz Abubakar Yari is taking cost of the following development part at Geregu Energy Plc, transferring swiftly as his firm, MA’AM Vitality Ltd, alongside different minority shareholders, stands to obtain a major share of the N500 billion ($351.3 million) in energy sector debt owed by the Federal Authorities.
Geregu Energy positioned amid sector bonds
An evaluation of energy sector arrears and compensation devices exhibits that Geregu Energy, like different electrical energy producing firms (Gencos), is an element of a bigger N4 trillion ($2.81 billion) debt. The Federal Authorities, via the Nigerian Bulk Electrical energy Buying and selling (NBET) firm, has launched a bond program to settle these obligations. NBET Finance Firm Plc, backed by a sovereign assure, will concern bonds below this N4 trillion framework.
Geregu Energy’s monetary statements as of September 2025 report receivables of N170 billion ($116 million) web of impairments. The gross quantity earlier than impairment might method N500 billion ($341 million). By March 2025 excellent obligations to the corporate have been round N400 billion ($273 million) climbing to just about N500 billion ($341 million) by December.
Yari good points management of Geregu Energy
This transfer follows Nigerian billionaire Femi Otedola’s sale of 77 percent of his Geregu Power stake for $750 million to MA’AM Vitality Ltd., which is linked to Yari, as the corporate acquired a 95 p.c stake in Amperion Energy Distribution Firm Restricted, the entity via which Otedola held most of his shares, thus making Yari the brand new controlling shareholder.
Now appointed chairman, Yari inherits an organization exhibiting robust monetary efficiency. Geregu posted an 82 p.c rise in pre-tax revenue to N11.2 billion ($7.62 million) for the three months to September, with income climbing 37 p.c to N43.8 billion ($30.2 million). Over 9 months, income reached N131.5 billion ($89.46 million) and pre-tax revenue N37.5 billion ($25.51 million), pushed by greater era and improved pricing.
From instructing To vitality management
Yari’s profession didn’t start in company workplaces. He began as a trainer earlier than a political journey spanning greater than 20 years. He holds superior levels in public administration, finance and funding administration together with a grasp’s from the College of Salford and a certificates in Management and Change from the London Faculty of Economics.
Past politics, Yari quietly constructed MA’AM Vitality, strategically investing in vitality options with a give attention to sustainability, reliability, and effectivity. The acquisition of Geregu Energy locations him on the middle of some of the intently watched company transitions in Nigeria thus highlighting how strategic funding continues to form Nigeria’s listed firms.
