Geregu Power on Monday announced a profit after tax drop of 0.64 per cent to N27.50 billion in 2025 financial year results posted on the Nigerian Exchange Limited (NGX) from N27.43billion declared in 2024.
The power generating company, however, saw its profit before tax gaining 1.74 per cent to N41.99 billion in 2025 from N41.27billion posted in 2024.
Despite slow growth in profit, the management of Geregu Power has proposed to shareholders a dividend payout of N9.00 per share in 2025 as against N8.50 per share paid to shareholders in 2024.
As gathered by WESTERNPOST, the drop in profit after tax is on the backdrop of N14.73billion tax expenses in 2025 as against N13.84 billion in 2024.
Also, the 1.74 per cent growth in profit before tax in 2025 is on the backdrop of cost of sales, finance cost and operating expenses that amounted to about N151.18 billion in 2025 from N103.82 billion in 2024.
The company closed 2025 with a revenue increase of 34.9 per cent to N184.94billion as against N137.12billion posted in 2024.
However, there was a change in ownership of Geregu Power following the exit of Mr Femi Otedola.
Senator Abdulaziz Yari, a sitting senator and former governor of Zamfara State, was appointed Chairman of the Board of Directors of Geregu Power.
The new board reconstitution also included several new independent non-executive directors.
Aside from Senator Yari who now heads the board, Usman Gur Mohammed as well as Sani Jaafaru and Uzoamaka Adogu, among others, have been appointed as independent non-executive directors of the power company.
Femi Otedola exit came in a transaction that saw him divest his 77 per cent of his controlling stake in Geregu Power, according to the filing on the NGX.