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Billionaire businessman, Femi Otedola, on Wednesday,
revealed that he has sold his interests in Forte Oil.
Otedola said on Instagram, he has moved on from being a
player in the petroleum industry to focusing on his power generation business.
Sharing a photo of the different brand changes that the oil
company had undergone, Otedola wrote,
"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."
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