Shareholders of Geregu Power Plc have approved a dividend of ₦9.00 per share for the financial year ended December 31, 2025, during the company’s 14th Annual General Meeting (AGM) held virtually on June 30, 2026. The decision was made following a comprehensive review of the company’s financial performance and governance structure, as disclosed to the Nigerian Exchange Limited (NGX). The AGM also saw the ratification of key board appointments and corporate governance resolutions aimed at strengthening the company’s leadership and oversight.
The shareholders formally adopted the audited financial statements for the year ended December 31, 2025, along with the reports from the directors and external auditors. This approval confirms the transparency and accountability of the company’s financial reporting. The dividend of ₦9.00 per ordinary share will be paid to shareholders whose names are registered in the company’s records as of April 13, 2026, ensuring fair distribution to eligible investors.
In a move to enhance corporate governance, shareholders re-elected Chief Olukunle Oyewole as a director after her retirement by rotation. The meeting also approved the reappointment of PricewaterhouseCoopers (PwC) as the external auditor, in compliance with the Companies and Allied Matters Act (CAMA) 2020. The board was further authorised to determine the auditors’ remuneration for the 2026 financial year, reflecting ongoing commitment to audit independence and quality.
A new Statutory Audit Committee was elected, 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. This committee will play a critical role in overseeing financial reporting and internal controls.
The AGM also approved the continuation of Non-Executive Directors’ remuneration at ₦32.4 million for the year ending December 31, 2026, effective from January 1, 2026. This decision underscores the company’s recognition of the value these directors bring to strategic oversight.
In a significant expansion of the board, shareholders approved the appointment 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. Additionally, Dr. Mohammed Usman Gur and Engr. Mohammed Sani Jaafaru were elected as Independent Non-Executive Directors, further diversifying expertise and reinforcing governance.
These resolutions highlight Geregu Power’s dedication to shareholder value, strong corporate governance, and sustainable growth in Nigeria’s evolving power sector. The company is now poised to build on its foundation as it continues to contribute to national energy development.
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