Reassessing Senator Yari’s Appointment at Geregu Power Plc
By Abdul Ozumi
The recent acquisition of a majority stake in Geregu Power Plc by Abuja‑based Ma’am Energy Limited—an investment estimated at $750 million—marks a significant turning point in Nigeria’s power sector. With the transfer of 77 percent of Geregu’s issued share capital from Amperion Power Distribution Company, formerly controlled by billionaire investor Femi Otedola, Ma’am Energy has emerged as one of the most influential indigenous players in the electricity market.
Ma’am Energy, owned equally by Abdulkarim Tsafe, Jari Jafar, Abdulaziz Yari Jr., and Abdulaziz Ahmad, brings together a consortium of Nigerian investors with interests spanning power generation, oil and gas, refining, and energy trading. The company’s arrival signals renewed confidence in the sector at a time when Nigeria urgently needs fresh capital, technical expertise, and credible leadership.
With the acquisition came a reconstituted board chaired by former Zamfara State governor, Senator Abdulaziz Yari. Other directors include respected professionals such as finance expert Abdulkadeer Njiddah, former TCN Managing Director Usman Mohammed, oil and gas executive Mohammed Jaafaru, Access Bank senior executive Neka Adogu, and Senior Advocate of Nigeria Mahmud Magaji.
Yet, instead of celebrating a major injection of indigenous capital into the power sector, some critics have chosen to fixate on Senator Yari’s appointment as board chairman. This fixation is not only unnecessary—it is legally unfounded and intellectually lazy.
The Law Is Clear: Public Officers May Invest in Legitimate Businesses
Nigeria’s constitutional and regulatory framework draws a clear line between investment and executive management. Public officers are permitted to own shares, sit on boards, and participate in legitimate business ventures, provided they do not hold executive positions or use their public office for personal gain.
This principle is neither new nor controversial.
Our political history is filled with leaders who built legitimate business empires while serving the nation. President Bola Ahmed Tinubu, former President Olusegun Obasanjo, and former Vice President Atiku Abubakar all maintained extensive business interests without violating the law. Their entrepreneurial backgrounds often enhanced their understanding of economic realities and informed their governance.
To pretend that Senator Yari’s situation is any different is to ignore both precedent and common sense.
If critics are genuinely concerned about ethics, the relevant questions are straightforward: – Has Senator Yari used public office to secure undue advantage for his business interests?
– Has he violated any provision of the Code of Conduct for Public Officers?
– Has he failed to declare his assets as required by law?
– Has his legislative work been compromised by conflicts of interest?
Unless credible evidence answers yes to any of these questions, the current controversy amounts to nothing more than political theatre.
Senator Yari’s leadership record is often misunderstood or deliberately misrepresented. As governor of Zamfara State during a period of profound social transformation following the introduction of Sharia law, he navigated complex religious, ethnic, and political tensions with notable skill. Under his stewardship, Zamfara remained relatively stable and cohesive at a time when many predicted unrest.
This history of managing competing interests, maintaining peace, and steering a diverse state through sensitive transitions is precisely the kind of experience that strengthens a board overseeing a major national asset.
Nigeria’s power sector is in desperate need of massive private investment. If individuals with capital, experience, and national influence are discouraged from participating—despite operating within legal boundaries—the country risks undermining the very investment climate required for progress.
The real scandal would be if capable Nigerians were pushed away from contributing to national development because of baseless insinuations.
Senator Abdulaziz Yari’s involvement in Geregu Power Plc is neither illegal nor unethical. It is a legitimate business engagement consistent with Nigerian law and long‑standing political practice. His record of leadership, his commitment to public service, and his ability to navigate complex governance challenges speak far louder than the noise of unfounded criticism.
Nigeria deserves a political conversation grounded in facts, law, and substance—not speculation.
Let us judge our leaders by their policies, their integrity, and their contributions to national development. That is the standard by which Senator Yari—and indeed all public officials—should be evaluated.
Abdul Ozumi writes from Kano.