Geregu Power to Re-Appoint Olawunmi Otedola and Paul Gbededo to Board at March 26 AGM

Geregu Power Plc, Nigeria’s first listed power generation company, has scheduled its 2025 Annual General Meeting (AGM) for March 26, 2025, at the Transcorp Hilton Hotel, Abuja. Among the critical items on the agenda is the re-appointment of two non-executive directors — Mr. Paul Gbededo and Ms. Olawunmi Otedola, who are both retiring by rotation and have offered themselves for re-election.

Who Are the Directors Up for Re-Appointment?

Paul Gbededo

Mr. Gbededo is a seasoned industrialist and corporate leader, with over 35 years’ experience in manufacturing, operations, and business strategy. He served as Group Managing Director/CEO of Flour Mills of Nigeria Plc from 2013 to 2020, helping to consolidate the group’s leadership in food and agro-allied industries.

On the Geregu Power board, Gbededo brings deep industrial insight, strong risk management expertise, and a clear understanding of governance best practices. His re-appointment would ensure continuity in corporate strategy, especially as Geregu Power positions itself to benefit from Nigeria’s ongoing power sector reforms.

Olawunmi Otedola

Ms. Olawunmi Otedola, popularly known as Tolani Otedola, is a lawyer, singer, and entrepreneur, and the first daughter of Nigerian billionaire and Geregu Power’s Chairman, Femi Otedola. While she is widely known for her creative career in music, she also holds a law degree from the University of St Andrews in Scotland, adding legal and governance depth to the Geregu Power board.

Her role as Non-Executive Director reflects the Otedola family’s strategic interest in the company, which is majority-owned by Femi Otedola through his investment vehicle, Amperion Power Distribution Company Limited.

Beyond her boardroom role, Tolani has carved her own identity outside the family’s corporate empire. As a singer and songwriter, she has built a loyal fanbase and earned respect in Nigeria’s entertainment industry. Her re-appointment would maintain a vital shareholder voice on the board while reinforcing the Otedola family’s commitment to Geregu Power’s long-term success.

Why This Matters

For shareholders and industry analysts, the re-appointment of both directors signals a deliberate strategy to balance industrial expertise with shareholder representation. It also underscores Femi Otedola’s hands-on approach to safeguarding his power sector investment.

With Nigeria’s electricity market undergoing reforms aimed at improving power generation, grid reliability, and investment inflows, the stability of Geregu Power’s leadership becomes even more critical to its ability to secure future projects and financing.

The AGM will also consider the approval of dividends and other governance matters, making it a key date for investors tracking the company’s performance since its historic listing on the NGX in 2022.

Background Context – Geregu Power’s Unique Position

Geregu Power remains the only listed electricity generation company on the NGX, giving it unique visibility among both retail and institutional investors.

The company’s ability to attract global financing, including a $250 million investment from the Africa Export-Import Bank (Afreximbank) in 2023 has been tied to its transparent governance structure and the reputation of its leadership team, including Femi Otedola’s proven business acumen and the depth of experience brought by directors like Paul Gbededo.

Subscribe to Notifications