A formidable Nigerian electricity company and power plant, Geregu Power Plc has officially listed N2.5bn shares by introduction on the Main Board of the Nigerian Exchange (NGX) on Wednesday, October 5, 2022.
This is also the second listing on the Nigerian Exchange this year and will likely be seen as a major achievement for the Exchange under the leadership of its CEO, Temi Popoola.
This move has changed the narrative of the power generating sector in the nation and has restored confidence in that aspect of the economy.
one can expect that more investors will begin to look into the power generating sector in a bid to drive healthy competition and tackle the challenge of power generation in the country.
Nigeria is Indeed endowed with abundance of oil, gas, hydro and solar resources, it has the ability to generate excess of 12,522MW of electric power from existing plants, but it has long been struggling with the insufficient generation of 4,500MW for a nation of over 200million people.
The world bank says Nigeria will need an investment of over $100bn in a 10years span to tackle the challenge of power which has cripple the nation since 1999.
It is therefore a commendable move made by Geregu power PLC to restore confidence in the power sector.
There is indeed bright days ahead for the country.