Billionaire Businessman, Femi Otedola Announces His Exit From Forte Oil

Billionaire businessman, Femi Otedola has announced in an Instagram post that he will be leaving Forte oil for the successor of the company.

It can be recalled that the billionaire sold his 75% stake in the oil marketing company Forte Oil to Prudent Energy, a local oil trading company earlier this year.

Otedola, who was a majority shareholder for the Oil company, Forte Oil Plc, has gone to his Instagram page to reveal that he will have successors at the company.

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He wrote on IG:

A few years ago, my team and I embarked on an arduous task of transforming a moribund petroleum marketing business, African Petroleum Plc (formerly British Petroleum) into Forte Oil Plc; a leading integrated solutions provider with solid footprints in downstream petroleum marketing, Upstream Services and Power Generation and one in which we built intrinsic value to the benefits of our shareholders. In line with my principle of business focus, we have divested from our marketing and upstream businesses and shall from now on focus and consolidate on the gains of our power generation business, Geregu Power Plc. We wish our successors the very best and urge them to build on our legacies which have been established since 1964 ?? …F.Ote?