Geregu Power declares N9 dividend, appoints new directors at AGM

GEREGU Power Plc has declared a dividend of N9 per share for the financial year ended December 31, 2025, following the approval of shareholders at its 14th Annual General Meeting (AGM).

The company disclosed in a statement issued on Wednesday that the AGM was held virtually via Zoom on June 30, 2026, where shareholders approved key resolutions covering the company’s financial statements, board appointments, dividend payment, auditor reappointment and corporate governance matters.

Shareholders adopted the audited financial statements for the year ended December 31, 2025, together with the reports of the directors and external auditors.

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The approved dividend of N9 per share will be paid to shareholders whose names appeared on the company’s register of members as of April 13, 2026.

At the meeting, shareholders also re-elected Chief Olukunle Oyewole, who retired by rotation, as a director of the company.

PricewaterhouseCoopers (PwC) was re-appointed as the company’s external auditor in line with the provisions of the Companies and Allied Matters Act (CAMA) 2020, while the board was authorised to determine the auditors’ remuneration for the 2026 financial year.

The AGM also elected members of the statutory audit committee. The shareholder representatives are Ms Adebisi Bakare, Mr Sharfudeen Zubair Mahmoud and Mr Abba Salihi, while Dr Abdulkadeer Babangida Njiddah and Dr Mohammed Usman Gur will serve as board representatives.

In compliance with Section 238 of the Companies and Allied Matters Act, 2020, the company noted that the remuneration of its managers was disclosed on page 73 of its 2025 Annual Report.

Shareholders further approved a remuneration of N32.4 million for the company’s non-executive directors for the financial year ending December 31, 2026, with effect from January 1, 2026.

The meeting also approved the appointment of 7 directors to the board. They include 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.

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In addition, Dr Mohammed Usman Gur and Engr Mohammed Sani Jaafaru were elected as independent non-executive directors of the company.

The resolutions were announced in a notice signed by the Company Secretary, Gbeminiyi Shoda, on behalf of Geregu Power Plc.