Business Mogul, Femi Otedola has finally announced his exit from Forte oil company. This was after the billionaire tycoon, who was the majority shareholder of the company sold off his shares to Prudent Energy, a local oil trading firm. He shared the news that he has sold off his 75% stake in the oil marketing company and will now focus solely on his power generation business, Geregu Power Plc. He went on to wish his successors at Forte Oil “the very best”. 
In his post on Instagram, Otedola shared that: “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?” 
Photo Credit: Femi Otedola
