Not compliant
Geregu Power does not pass Shariah screening under the AAOIFI Standard.
NGX: GEREGU · Utilities · Screened 23 Aug 2026 · H1 2026 accounts
Geregu Power Plc generates electricity in Nigeria using gas turbine technology. The company was incorporated in 2006 and began operations in 2007. It was acquired by Amperion Power Distribution Company Limited in 2013, with Femi Otedola's consortium leading the acquisition. Geregu Power became the first power generating company listed on the Nigerian Exchange in October 2022.
The Geregu 1 plant, built by the Nigerian government in 2007, comprises three simple cycle natural gas-fired Siemens V94.2 units designated GT11, GT12 and GT13, each rated at 145MW at 15.75 kV, for total installed capacity of 435MW. A major overhaul in 2014 increased capacity availability from 25% to 100% and boosted nameplate capacity from 414MW to 435MW. The plant generates on average around 10% of Nigeria's total power consumption.
The company signed a memorandum of understanding with Siemens Energy to expand capacity, covering an upgrade of Geregu 1 from 435MW to 500MW, combined cycle operations adding a further 200MW, and new builds using lower emission turbines adding 500MW as Geregu 3, which would take overall nameplate capacity to 1,200MW.
Single activity, electricity generation and sale.
No. As of 23 August 2026, Geregu Power (GEREGU) does not pass Shariah screening under the AAOIFI Standard.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.