Abdulaziz Yari.webp
The Digest:

According to a filing with the Nigerian Exchange Limited, Amperion Power Distribution Company, the vehicle for Femi Otedola's stake, has transferred its shares to Ma’am Energy Limited, marking the end of an era for the billionaire's highly visible investment.

Key Points:
  • Ma’am Energy now holds a 95% stake in Amperion, becoming Geregu Power's controlling shareholder.
  • The deal transfers indirect control of 77% of Geregu’s shares, valued at an estimated $750 million.
  • Femi Otedola has resigned as chairman alongside the CEO and several board directors.
  • The new board chairman is Senator Abdulaziz Yari, former governor of Zamfara State.
  • Ma'am Energy's significant controllers include Abdulkarim Tsafe, Jari Jafar, and Abdulaziz Yari.
  • The newly constituted board features experts in finance, engineering, and law.
  • This move signals a major strategic realignment in Nigeria’s power generation sector.
This transition underscores the fluid dynamics of capital and influence within critical national infrastructure, where legacy assets find new custodians.

Sources: Premium Times, Nairametrics