Lagos, Nigeria – Geregu Power Plc expects to earn N8.1 billion ($5.4 million USD) in profit after tax in the second quarter of 2026. This forecast comes after the company beat its 2025 targets.
Okay News reports that the power company made N9.74 billion in the same period last year. It had predicted only N8.6 billion. The new forecast is more cautious. Sales may reach N44.3 billion. This is lower than the N53.1 billion projected for 2025.
The company surprised analysts in 2025. It reported N55.8 billion in revenue for the second quarter. This beat its own forecast.
Costs should drop this year. The company expects to spend N27.4 billion on sales costs. This is down from N32.1 billion last year. Gross profit may hit N16.9 billion. This is below the N23.7 billion from 2025.
Operating profit should reach N13.8 billion. This is slightly lower than the N15.02 billion in 2025. Finance costs should also fall. The company expects N1.6 billion in net finance costs. This includes N1.09 billion in income and N2.7 billion in costs.
For the full year 2025, Geregu made N184.9 billion in revenue. This was up 35% from 2024. Energy sales brought in N120.8 billion. Capacity charges added N64.1 billion. Gross profit was N74.2 billion. Operating profit hit N48.1 billion.
However, finance costs jumped to N12.5 billion. This was up sharply from N1.6 billion in 2024. The rise came from higher borrowing and bond costs.
In December 2025, Femi Otedola sold his 77% stake in Geregu. The deal was worth $750 million. It was one of Nigeria’s largest power sector sales.
Geregu shares trade at about N1,141.5 on the Nigerian Exchange. The company has 2.5 billion shares outstanding. Its market value is about N2.8 trillion. This places it among Nigeria’s most valuable listed companies.
 in profit after tax in the second quarter of 2026. This forecast comes after the company beat its 2025 targets.){kind=link}