Geregu Power Shines as NGX’s “Most Compliant Listed Company” for 2023 ⚡
Geregu Power Plc has been honored with the Most Compliant Listed Company Award by the Nigerian Exchange Limited (NGX) at its 2024 Made of Africa Awards. ✨ This prestigious accolade recognizes Geregu’s exemplary adherence to NGX’s issuer rules and commitment to transparency. Here’s a closer look at the highlights:
Key Achievements :
1. Compliance Excellence: Geregu maintained flawless regulatory compliance, ensuring timely filings of financial results and corporate disclosures without penalties.
• Filed 2023 audited results on January 30, 2024, and Q1 results on April 9, 2024.
• Hosted annual general meetings ahead of most listed entities.
2. Impressive Financial Growth :
• Profit After Tax: N24.1bn (113% growth YoY).
• Revenue: N112.58bn for nine months, a 102% surge YoY.
• Stock Performance: Share price soared by 188% in 2024 to N1,150/share, with a market capitalization of N2.88tn.
3. Strategic Expansion ⚙️:
• Collaborating with Siemens Energy to triple capacity from 435MW to 1,300MW, incorporating renewables (15–20% of capacity).
• Developing Geregu 3 and acquiring Geregu Power Plant II for further energy contributions.
4. Stakeholder Value : Declared an N8.00/share dividend for the 2023 financial year, reflecting its commitment to shareholders.
Industry Leadership :
Under the chairmanship of Femi Otedola, Geregu Power now contributes approximately 10% of Nigeria’s electricity consumption while addressing national grid challenges.
This recognition cements Geregu’s role as a leader in Nigeria’s power sector, driven by innovation, transparency, and impactful growth. ✨
Geregu Power Plc has been honored with the Most Compliant Listed Company Award by the Nigerian Exchange Limited (NGX) at its 2024 Made of Africa Awards. ✨ This prestigious accolade recognizes Geregu’s exemplary adherence to NGX’s issuer rules and commitment to transparency. Here’s a closer look at the highlights:
Key Achievements :
1. Compliance Excellence: Geregu maintained flawless regulatory compliance, ensuring timely filings of financial results and corporate disclosures without penalties.
• Filed 2023 audited results on January 30, 2024, and Q1 results on April 9, 2024.
• Hosted annual general meetings ahead of most listed entities.
2. Impressive Financial Growth :
• Profit After Tax: N24.1bn (113% growth YoY).
• Revenue: N112.58bn for nine months, a 102% surge YoY.
• Stock Performance: Share price soared by 188% in 2024 to N1,150/share, with a market capitalization of N2.88tn.
3. Strategic Expansion ⚙️:
• Collaborating with Siemens Energy to triple capacity from 435MW to 1,300MW, incorporating renewables (15–20% of capacity).
• Developing Geregu 3 and acquiring Geregu Power Plant II for further energy contributions.
4. Stakeholder Value : Declared an N8.00/share dividend for the 2023 financial year, reflecting its commitment to shareholders.
Industry Leadership :
Under the chairmanship of Femi Otedola, Geregu Power now contributes approximately 10% of Nigeria’s electricity consumption while addressing national grid challenges.
This recognition cements Geregu’s role as a leader in Nigeria’s power sector, driven by innovation, transparency, and impactful growth. ✨