Tinubu Hails Otedola’s ₦1trn Geregu Exit, Elumelu’s Bold Seplat Move

Chairman of Oando Plc, Mr. Wale Tinubu, CON, has commended billionaire investors Femi Otedola and Tony Elumelu for investment decisions he described as defining moments for value creation and indigenous capital leadership in 2026.
In a post on his verified X (formerly Twitter) handle, @AdewaleTinubu, Tinubu reflected on the first week of business in the new year, noting that the strategic moves by Otedola and Elumelu have set a strong tone for corporate Nigeria and the capital market.
“With the Geregu exit, Femi turned an investment in power into a landmark deal, while simultaneously deepening his position in banking. This speaks to deft positioning,” Tinubu wrote. “The mark of an exceptional investor is not simply in making an investment. The mastery lies in knowing when to exit.”

Otedola’s divestment from Geregu Power Plc, valued at over ₦1 trillion, followed years of expansion and operational stabilisation of the 414MW power plant acquired during the 2013 power sector privatisation. The asset, which was listed on the Nigerian Exchange in 2022 at about ₦250 billion, has since grown into one of the most valuable power companies in the country, making the exit one of the most notable investment deals in recent Nigerian history.

Reacting to the development, economist Celestine Ukpong said the Geregu transaction highlights the importance of timing and policy stability in long-term infrastructure investments. According to him, Otedola’s exit demonstrates how private capital can create value in previously state-owned assets when supported by reforms and disciplined management.
“Beyond the headline figures, the Geregu deal shows that infrastructure investments in Nigeria can deliver outsized returns if investors understand regulatory cycles and exit at the right time,” Ukpong said. “It also sends a strong signal to both local and foreign investors that Nigeria’s power sector, despite its challenges, can still generate value.”

Tinubu also praised Tony Elumelu’s emergence as a major shareholder in Seplat Energy Plc, describing it as a strategic bet on African ownership, governance and long-term energy security.
“For Tony, stepping into Seplat as a major shareholder is a long, deliberate bet on African capability; on ownership; on governance and on the belief that our energy future should increasingly be shaped by those who live and build at home,” Tinubu noted.

Chartered accountant and financial analyst Peter Adebayo, FCA, described Elumelu’s move as both strategic and symbolic for Nigeria’s energy and capital markets. He said the investment strengthens indigenous participation in the oil and gas sector at a time when global energy players are reassessing their African portfolios.
“Elumelu’s increased stake in Seplat reinforces confidence in corporate governance and financial discipline,” Adebayo said. “From a capital market perspective, it supports stability, improves investor sentiment and underscores the growing role of Nigerian institutional and high-net-worth capital in strategic national assets.”

Both experts agreed that the transactions go beyond individual wealth creation, pointing instead to their broader implications for market depth, governance standards and long-term economic development.

While the deals have sparked debates on social media, with critics questioning privatisation outcomes and market concentration, supporters argue that they reflect maturity in Nigeria’s investment ecosystem — where capital is not only deployed strategically but also exited with precision

As 2026 unfolds, analysts say the moves by Otedola and Elumelu could shape investor behaviour, encourage long-term bets on infrastructure and energy, and redefine how value is created and realised in Africa’s largest economy.

Wale Tinubu hails Femi Otedola’s ₦1 trillion Geregu Power exit and Tony Elumelu’s strategic entry into Seplat Energy as economists and financial experts assess the broader impact on Nigeria’s investment landscape and capital markets in 2026.