Otedola’s Geregu Power Posts 28% Drop in Quarterly Profit

Geregu Power, chaired by billionaire Femi Otedola, posted a profit after tax of N10.43 billion in the first three months of 2025, down from N14.46 billion a year earlier.

The company’s revenue fell to N31.76 billion from N50.43 billion in the first quarter of 2024, according to its unaudited financial statements released on Saturday.