Renowned Nigerian businessman and major shareholder in Geregu Power Plc, Femi Otedola, is celebrating a significant financial milestone as Geregu Power Plc, for the first time, crosses the N1 trillion market capitalization threshold, solidifying its place among the prestigious SWOOT group.
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The achievement comes on the heels of a remarkable surge in Geregu Power Plc’s market performance.
At the close of trading on January 15, 2024, the company, the only power entity listed on the Nigerian Exchange Group (NGX), experienced a substantial appreciation of 7.52%. This surge led to a closing share price of N429, catapulting its market capitalization to an impressive N1.07 trillion.
Otedola, a prominent figure in Nigeria’s business landscape, holds a significant stake in Geregu Power Plc.
Recently, he has witnessed a resurgence in his billionaire status, attributed to the appreciating value of his shares in FBN Holdings and Zenith Bank.
This positive market trend has not only bolstered Otedola’s personal wealth but has also contributed to the remarkable success of Geregu Power Plc.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
