Geregu Power Plc has been recognized as the Most Compliant Listed Company on the Nigerian Exchange (NGX) for 2023, solidifying its reputation as a leader in corporate governance and regulatory compliance.
Since joining the Nigerian Exchange on October 5, 2022, Geregu Power has consistently upheld high standards by submitting its financial reports and disclosures on time. For instance, the company released its 2023 audited financial statements as early as January 30, followed by its first-quarter results on April 9—demonstrating a strong commitment to transparency.
This dedication to accountability has paid off in more ways than one. Geregu Power’s stock has been one of the top performers on the NGX, with its share price soaring by an impressive 188% year-to-date. As of December 6, 2024, the company’s stock was trading at N1,150 per share, pushing its market valuation to an outstanding N2.88 trillion.
Financially, the company has made remarkable strides. Geregu Power recorded a profit before tax of N36.2 billion for the nine months ending September 30, 2024—a whopping 107.3% increase compared to the same period last year. Its revenue also doubled to N112.58 billion, reflecting the company’s solid growth and operational efficiency.
But Geregu Power’s impact goes beyond the numbers. As a major player in Nigeria’s energy sector, the company currently provides about 10% of the nation’s electricity supply. It’s also working to expand its capacity significantly, with plans to triple its output from 435MW to 1,300MW. Part of this growth strategy includes a focus on renewable energy, which is a step forward in addressing the country’s power challenges sustainably.
This latest recognition from the NGX is a well-deserved nod to Geregu Power’s unwavering commitment to compliance and excellence. As Nigeria strives to improve its power infrastructure, Geregu Power stands out as a shining example of what’s possible when companies prioritize transparency, governance, and innovation.
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