Geregu Power Plc has appointed former Zamfara State Governor and Senator representing Zamfara West, Abdulaziz Yari, as the new Chairman of its Board of Directors following the resignation of billionaire businessman Femi Otedola.

The development was disclosed in a notice filed with the Nigerian Exchange Limited (NGX) after a board meeting held on Monday. The change in leadership follows a significant shift in the company’s ultimate beneficial ownership after Otedola divested his controlling stake in the power generation firm.

Otedola’s exit marks the end of an era at Geregu Power, where he played a key role in driving the company’s growth and successful listing on the NGX. The board expressed appreciation for his contributions to the company’s expansion and corporate governance standards.

With his appointment, Yari assumes leadership of one of Nigeria’s major power generation companies, a move that has attracted attention given his political background and influence. The company stated that the board changes are expected to ensure continuity, strengthen governance, and support Geregu Power’s long-term strategic objectives in Nigeria’s energy sector.