Nigeria’s Geregu in Talks With Afreximbank Unit for Equity Stake
Dec 03, 2022 by Bloomberg(Bloomberg) -- Geregu Power Plc, a Nigerian electricity generation company, is in talks with the Fund for Export Development in Africa, an arm of the Africa Export and Import Bank, for the acquisition of a portion of shares in the power firm.
“The discussions are currently on going,” Geregu said in a filing to the Nigerian Exchange Ltd.
The country’s electricity and generation firms have faced challenges of inadequate infrastructure, funding and revenue since private owners took over the power assets nine years ago under a government privatization program. More than 40% of residents in the nation of about 200 million people have no access to electricity, according to the World Bank.
Geregu has 435 megawatts installed capacity and generates about 10% of the country’s power, according to its website.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
By
More Utilities

Adani Share Sale Fully Subscribed After Last-Day Jump in Bids
Jan 31, 2023
European Gas Prices Swing as Traders Track Demand, Stockpiles
Jan 30, 2023
Eskom Latest: Power Outages Roll on; Emergency Package Discussed
Jan 30, 2023
NTPC’s Profit Jumps as Growing Economy Boosts Power Demand
Jan 28, 2023
Nigeria's $11 Billion Lawsuit Begins With Accusations of Double-Dealing, Six-Figure Bribes
Jan 28, 2023
CORE Electric Cooperative and Invenergy agree power supply partnership
Jan 27, 2023
South Africa’s Ruling Party Blames Everyone But Itself for Power Crisis
Jan 26, 2023
European Gas Slips Again as Ample Supplies Help to Soften Crisis
Jan 25, 2023
UK Homes Asked to Curb Power for Second Day as Wind Fades
Jan 24, 2023