I salute the team behind Geregu, they have accomplished an uncommon feat in the Nigerian capital market: “Geregu Power Plc, a major player in Nigeria’s electricity generation sector, continues to capture investor confidence, driving its market capitalization to an impressive N2.8 trillion in September 2024.” I mean, this was largely a dead asset, and just like that, it has a value close to N3 trillion.
In business and politics, leadership matters. Geregu has unlocked value for investors, with no excuses, that in the broken current Nigeria, alpha moments exist. Who knows…this could become the magic Nigeria needs to fix its electricity paralysis. I wish the team more wins.
Yes, take action, and do not just complain. Dangote has cement, Innoson has local cars, BUA has food, Ndubuisi has tech startups, …Geregu can take power; healthcare, roads, security, etc remain. #build.
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From LinkedIn
Question: Is Geregu a Dead Asset?
My Response: Buying new computers for a primary school with poor teachers does not make it high performing. The Geregu Power Plant was constructed by the Federal Government of Nigeria and commissioned into service on the 16th February 2007 . It was nothing but dead until a new management came. In two years, that firm has appreciated from N250B to close to N3 trillion. But before it got to the market, it was dead and worth nothing up to N50B. If you know what it means to unlock that kind of value, you will understand my thesis. Where have we ever experienced such in Nigeria?
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