Femi Otedola has proclaimed his exit from Forte Oil.
This comes months once he informed the general public that he would sell his shares to Prudent Energy, a neighborhood oil mercantilism firm.
Otedola, who was the Chairman and majority stockholder of Forte Oil Plc till recently, disclosed on Instagram that he has oversubscribed his seventy fifth stake within the oil promoting company and can currently specialise in his power generation business, Geregu Power Plc. He went on to wish his successors at Forte Oil “the very best”.
He wrote on IG:
A few years ago, my team and I commenced an arduous task of remodeling a moribund fossil oil promoting business, African fossil oil Plc (formerly British Petroleum) into Forte Oil Plc; a number one integrated solutions supplier with solid footprints in downstream petroleum promoting, Upstream Services and Power Generation and one within which we have a tendency to engineered intrinsic price to the advantages of our shareholders.
In line with my principle of business focus, we’ve divested from our promoting and upstream businesses and shall from currently on focus and consolidate on the gains of our power generation business, Geregu Power Plc.
We want to wish our successors the absolute best and urge them to create on our legacies that are established since 1964 ?