Geregu Power Pays ₦9 Per Share Dividend, Strengthens Board at AGM

Shareholders of Geregu Power Plc have approved a dividend of ₦9.00 per share for the financial year ended December 31, 2025, while endorsing a series of board appointments and corporate governance resolutions at the company’s 14th Annual General Meeting (AGM).

The resolutions were passed during the virtual AGM held on June 30, 2026, according to a corporate disclosure submitted to the Nigerian Exchange Limited (NGX).

Under the approved resolutions, shareholders adopted the company’s audited financial statements for the year ended December 31, 2025, together with the reports of the directors and external auditors.

The meeting also approved a dividend of ₦9.00 per ordinary share, payable to shareholders whose names appeared in the company’s register of members as of April 13, 2026.

As part of the board resolutions, shareholders re-elected Chief Olukunle Oyewole as a director following her retirement by rotation and approved the reappointment of PricewaterhouseCoopers (PwC) as the company’s external auditor in accordance with the Companies and Allied Matters Act (CAMA) 2020.

The Board was also authorised to determine the auditors’ remuneration for the 2026 financial year.

Shareholders elected a new Statutory Audit Committee comprising Mrs. Adebisi Bakare, Mr. Sharfudeen Zubair Mahmoud and Mr. Abba Salihi as shareholder representatives, alongside Mr. Abdulkadeer Babangida Njiddah and Mr. Mohammed Usman Gur as board representatives.

The AGM further approved maintaining the remuneration of the company’s Non-Executive Directors at ₦32.4 million for the year ending December 31, 2026, with the remuneration taking effect from January 1, 2026.

In a significant board expansion, shareholders approved the appointments of Senator Abdul-Aziz Abubakar Yari, Dr. Abdullahi Abdulkarim Tsafe, Dr. Abdulkadeer Babangida Njiddah, Mr. Mahmud Abubakar Magaji, SAN, and Ms. Neka Uzoamaka Adogu as Non-Executive Directors.

They also elected Dr. Mohammed Usman Gur and Engr. Mohammed Sani Jaafaru as Independent Non-Executive Directors, further strengthening the company’s governance structure.

The resolutions reflect Geregu Power’s continued commitment to rewarding shareholders while reinforcing its board and corporate governance framework as it pursues long-term growth in Nigeria’s power sector.