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Olurotimi Otedola Nets N3.2 Billion Profit from Geregu Power Shares
- Olurotimi Otedola sold Geregu Power shares for N4.6 billion.
- He made a profit of N3.2 billion from the investment.
- Geregu Power’s strong financial growth boosted his earnings.
Olurotimi Otedola, the lesser-known brother of billionaire businessman Femi Otedola, has made headlines after selling his shares in Geregu Power Plc, earning a massive profit of N3.2 billion.
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A recent filing with the Nigerian Stock Exchange, signed by Company Secretary Akinleye Olagbende, revealed that Olurotimi sold approximately four million shares at N1,150 per share on February 6, 2025.
Having originally purchased the shares for N789.8 million two years ago, his investment skyrocketed to N4.6 billion, marking a significant gain.
This transaction comes as Geregu Power Plc continues to record impressive financial growth. The company’s 2024 full-year audited report showed a 69.5% increase in pre-tax profit, rising to N41.2 billion. Additionally, post-tax profit surged by 71%, reaching N27.4 billion, further cementing its position as a strong player in the power sector.
Though often overshadowed by his famous relatives, including his billionaire brother Femi and niece, DJ Cuppy, Olurotimi has made a name for himself in both business and music.
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He is the founder of the Afrinero Music Band and showcased his musical talent during their mother Lady Doja Otedola’s 90th birthday celebration in 2022. His passion for music runs in the family, as Femi’s daughters, DJ Cuppy and Tolani, have also built careers in the industry.
With this latest financial success, Olurotimi Otedola has stepped into the spotlight, proving his business acumen while maintaining his artistic passion.
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