Geregu Power Plc has announced a profit of ₦13 billion for the first quarter of 2025, alongside a revenue of ₦31.7 billion. This performance underscores the company’s continued relevance in Nigeria’s power sector, although it fell short of its earlier revenue projections. The Q1 figures were released as part of its unaudited financial report, with management highlighting operational efficiency and improved generation output as key drivers of profitability.
Despite the impressive headline profit, some reports have noted a profit figure of ₦10.43 billion, reflecting a 28% year-on-year decline. This discrepancy may be due to variations in accounting treatments or timing differences in revenue recognition. Regardless, the current earnings reflect a solid bottom-line performance amid sector-wide challenges, including gas supply constraints and transmission losses.
The reported revenue of ₦31.7 billion falls below the company’s ambitious ₦60.9 billion ($40 million) quarterly revenue target set at the end of 2024. Geregu had based this projection on anticipated growth in energy demand and efficiency improvements following infrastructure upgrades. While the company did not meet this target, analysts believe the Q1 revenue still represents strong fundamentals in a tough operating environment.
Looking ahead, Geregu Power is expected to maintain its focus on capacity expansion and strategic partnerships to enhance output and revenue consistency. With the Nigerian power market gradually opening up to more private sector involvement, the company remains well-positioned to take advantage of emerging opportunities. Investors will be watching closely to see if Geregu can meet or exceed its targets in the coming quarters.
