brookz:
Seems he's scared of Next Level Axe of OPL revocation as it befell on the Abiola's , Mai deribe's and Co.


All the same, wishing him success in his new line of business.

likely what might have happen, as a smart business man he know when to call it quit

BubuZombi:
That's Good...



Oil and power which is more profitable

Power

So he can enjoy free money in power sector. As oil subsidy don dey cast. Light or no light pole must pay estimated bill or monthly service charge

PstTobi:
I just pray this man won't go broke.

oh OK. U are ok with him been rich while u are still poor?

Earthquake3:
This man has seen the future and ran away from fuel business

As in... The oil industry is basically finished.

qualityovenbake:
Fossil Fuel and Electric Vehicles(EV) is the Future.

Petrol, kerosene, coal, gas are examples of fossil fuel.

Green energy is the future, boss.

Dozie32:
Just which i go just de watch car for this man

Poor thinking

PatrickOkunima:


Selling a business is different from diversification.

Selling a business to go into another business is diversification sir.

smart businessman...he saw the future in his sleep...power will become the new oil...he knows instability with oil business and soon stimulus and subsidies which gave them billions will now become history.

ChristianNorth:

Petrol, kerosene, coal, gas are examples of fossil fuel.

Green energy is the future, boss.

I totally Agree with you. Green Energy is the future.

Ijaya123:
Mission accomplished. Moving on to the next money-making venture. It is called diversification. That's how successful seasoned business-minded people operate.

Meanwhile some morons will still find a way to blame PMB in this.

Weldone Prayer Warrior.

Divestment

Diversification when he acquired Geregu Power Plc.
(mixing wide range of businesses like oil, power, etc.).

Now, he's divesting by selling subsidiary assets/equity to focus on power generation.

Divestment is the opposite of Investment btw.

Looks like someone fronting for some of those that embezzled Nigeria’s wealth years ago and now returning the wealth back.

Or how do we explain the source?

Well, only God knows best.

The masses of Nigeria will be released from all these bondages of poverty on day like the children of Israel following Moses.

Kendumazy:


Selling a business to go into another business is diversification sir.

It's divestment and not diversification.

Please do not argue, just do your research.

Stop giving wrong info. Femi Otedola is not a billionaire

PatrickOkunima:

It's divestment and not diversification.
Please do not argue, just do your research.

OK sir. Thanks

Earthquake3:
This man has seen the future and ran away from fuel business

Not completely. He may have shares in Dangote. He may probably do a deal with Dangote for supply of cubic feet of gas for his company - Gberegu Power Plc when Dangote refinery is operational

qualityovenbake:
I totally Agree with you. Green Energy is the future.

True but his decision in my understanding has nothing to do with green or electric vehicles. Otedola is in Nigeria, not America.

This is purely about Dangote refinery, not electric vehicle (an impossible dream in a country like Nigeria).

Dangote and his shareholders weren't senseless when they decided to invest massively in fossils.

Nice move

No free subsidy money

chinchonglee:

Hw is dis diversification??

Divestment I mean to type. Happy now?

Acidosis:


Divestment

Diversification when he acquired Geregu Power Plc.
(mixing wide range of businesses like oil, power, etc.).

Now, he's divesting by selling subsidiary assets/equity to focus on power generation.

Divestment is the opposite of Investment btw.

Gracias

Astute businessman my a$$. This is what happens when you no longer have free subsidy money

Now he wants to see how "estimated billing" will help his hustle. Light or no light, Nigerians must pay the estimated bill.

Hmmm

Frankyboy1:
Thief! How did this men stumble upon such wealth in an egalitarian society like Nigeria? Show me a stupendously wealthy Nigeria, and I show you a man who has cut corners and been the fall guy for corrupt politicians and vested interest, they play the game with no adherence to business ethics and capitalist onus, they manipulate the dollars and stock market in their favor, as soon as shit hit the ceiling, they bail out

It is called LUCK and it applies in everything. He must taken some big RISKs

Jaynom:
Smart man. ELECTRIC CARS, ELECTRIC TRUCKS, ELECTRIC HIGHWAYS, ELECTRIC TRAINS, PLANES THAT RUN ON SOLAR ENERGY. He's seen what's ahead. Las Las we go drink our petrol

Na people way study petroleum engineering I just dey feel for. If you see the way they make mouth few years back, you will think your course of study is trash!

dongc:
smart businessman...he saw the future in his sleep...power will become the new oil...he knows instability with oil business and soon stimulus and subsidies which gave them billions will now become history.

If he’s so smart how come he went from $1 billion to now worth $300 million

sisipelebe:
Na people way study petroleum engineering I just dey feel for. If you see the way they make mouth few years back, you will think your course of study is trash!

LMAO

Frankyboy1:
Thief! How did this men stumble upon such wealth in an egalitarian society like Nigeria? Show me a stupendously wealthy Nigeria, and I show you a man who has cut corners and been the fall guy for corrupt politicians and vested interest, they play the game with no adherence to business ethics and capitalist onus, they manipulate the dollars and stock market in their favor, as soon as shit hit the ceiling, they bail out

interesting

beamtopola:
This man is in debt and hes broke like.

I know of him being in debt
But as for broke? don't know bout that

CanadaOrBust:
Stop giving wrong info. Femi Otedola is not a billionaire

he is still a naira billionaire sha

That counts for something

Ugosample:


he is still a naira billionaire sha

That counts for something

Half Igbo businessmen are naira billionaires

not sure what you know about wealth and how rich people are ranked and tracked..most of the money are equities not cash..the man has been into oil business which has been shaky for long time..investments prognosis and predictions sometimes goes the wrong way.same guys is investing 350m usd into new ventures.i dont know him personally .


https://www.forbes.com/sites/mfonobongnsehe/2016/05/03/nigerian-billionaire-femi-otedola-loses-400-million-in-9-weeks/#59f5229c1acd

CanadaOrBust:


If he’s so smart how come he went from $1 billion to now worth $300 million