Geregu Power’s Half-Year Profit Plunges 88% to N2.5bn

Geregu Power Plc recorded a sharp decline in earnings in the first half of 2026, as profit after tax fell by 87.7 percent amid a steep contraction in revenue.

The power-generating company’s profit after tax dropped to N2.5 billion, compared with N20.28 billion reported in the corresponding period of 2025.

Revenue also plunged by 78.7 percent to N18.66 billion, down from N87.63 billion a year earlier—a decline of nearly N69 billion.

The figures were disclosed in the company’s unaudited financial statements released on Friday.

The results indicate significant pressure on Geregu Power’s operations during the period, with the sharp revenue decline substantially weakening its bottom line.