He is seeing the future from now.. Everything electric.. Go Greening..the major players leave when the ovation is loud. .. The future of oil in nigeria is nearing doomsday.. We aren't prepared at all and this will cause panics and austerity when the whole issue happens...

Na only him knows why he did this.
E no concern me

IjebuWarrior:
Good move! Given the recent trend of oil prices dwindling and a viable alternative to crude oil is around the corner.

This should also be a STERN warning to all the major stake holders of the Niger Delta oil and all those that have held 9ja to stake cuz of her oil.

Las, las... na Thunder go fire dem all!

Plus Lagos and Tinubu who claim to have oil deposits. Sango hammer them all.

In case you missed the information though, FG has started revoking the licenses of some Yoruba individuals. Kola Abiola has already lost his.

Why not merge the forte oil with gerugu to form a muli energy company.
All these IOC now have branch in power generation especially solar energy

Acidosis:


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.

I can understand Dangote, Nigeria Government spend millions of dollars annually oversea to ship refined crude oil across the sea back to the country. Dangote building his own refinery, apart from creating employment, will also boost and channel those money the federal government are spending oversea to him, which is good for our economy.
America oil giant Exxon Mobil is planning to sell its onshore and offshore assets in Niger, likewise Shell.
Building his own refinery means less bureaucracy, no excessively complicated administrative produce, no renewing/bribery of oil block.
Green Energy: Over 5.5 million electric vehicles are on the road, 1.2 million of which were purchased in 2017. So am right when i say Green Energy is the future.

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

or no more free subsidies

Buhari has blocked all the loopholes. If Nah Jona dey power Femi would still be looting .

For me these guys are seeing what we ain’t seeing ..Femi Otedola , fully divesting from his cash cow Forte oil down stream business , Wale Tinubu fully divesting from Oando downstream business .. hmmm, perhaps the entrance of their business friend Aliko Dangote into this sector via his refinery has given a signal to his friends that their business model profiting them in billions wouldn’t be so lucrative as usual thus their fleecing ..... just wondering ,but then you never know .

There isn't much money to be made in the downstream sector any more, at least by his standard.

Buhari wants NNPC to be importing most of our PMS and also the initial gra gra against illegal refineries has stopped, atleast 50% of diesel (very very conservative figure) used in SE/SS are now from illegal refineries.

Let's not forget that Buhari is being pressure to increase NEPA bill, liberalise the power sector more so as to attract more investments in that secotr. So it makes business sense for Ote$$$ to divest to power.

So to Otedo$$$, money made in the downstream sector now is not worth his time any more.

The Northern elites are working tirelessly behind the scene to see Dangote come on stream. Then they'll go for LNG

CanadaOrBust:

Half Igbo businessmen are naira billionaires

dunno of half too
But I know a good number are
especially nnewi and ihiala people

IjebuWarrior:
Good move! Given the recent trend of oil prices dwindling and a viable alternative to crude oil is around the corner.

This should also be a STERN warning to all the major stake holders of the Niger Delta oil and all those that have held 9ja to stake cuz of her oil.

Las, las... na Thunder go fire dem all!

the oil dat sustained ur dry land and paaid ur fathers pension.
parasite.

You guys saying petroleum have no future in Nigeria funny die....

In the next 70 years Nigerians will be driving cars with fuel..

Nigeria is not going electrical anytime soon.. Nigeria is not getting light anytime soon

Corruption is not leaving Nigeria anytime soon.. Too many vested interests both local and international..

Ugosample:


dunno of half too

But I know a good number are

especially nnewi and ihiala people

It is called using exaggeration to make a point.
But if u judge by naira then I’m a multi, multi millionaire - like countless other Nigerians!

With the world switching to renewables I guess he's trying to follow suit.

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

Which many are yet to see. With the invention of electric cars, very soon oil will be like water

Ejanla07:
You guys saying petroleum have no future in Nigeria funny die....

In the next 70 years Nigerians will be driving cars with fuel..

Nigeria is not going electrical anytime soon.. Nigeria is not getting light anytime soon

Corruption is not leaving Nigeria anytime soon.. Too many vested interests both local and international..

crude oil will still he useful over the century

cride oil has many other derivatives