Geregu leaves investors in dust as stock languishes at 52-week low

Geregu Power Plc is enduring a difficult run on the Nigerian Exchange Limited (NGX), leaving long-term shareholders nursing a heavy retreat.

With a stubborn year-to-date (YtD) deficit now sitting at 27.67 percent, the stock is testing investor patience as trading activity stagnates and market participants search for fresh catalysts to spark a recovery. At the beginning of the year (January 2026), Geregu Power Plc traded at N1,141.50 per share.

Geregu defaulted on its N40.09 billion Series 1 Senior Unsecured Bond, missing its eighth semi-annual coupon and scheduled fourth principal repayment – a sign that the company currently navigates a severe corporate and financial predicament.

This became Nigeria’s first corporate bond default in seven years. At the Nigerian Exchange Limited, the power generation company’s share price continues to languish at its 52-week low, dragging its performance deeper into the red.

Agusto & Co has withdrawn the “A-” rating assigned to Geregu Power Plc and its N40.09 billion Series 1 Senior Unsecured Bond following the Company’s recent default on the eighth coupon payment and fourth principal repayment.

“The withdrawal reflects both the default event and Agusto & Co’s conclusion that it no longer possesses sufficient reliable information to maintain a credit rating opinion. Management has advised that previously issued financial statements are undergoing an independent verification process.

“Pending completion of this review, Agusto & Co is unable to rely on the current audited financial…