the rich always getting richer

Oil money no dey pay again

The future isn't oil.
Tesla says hi

Way to go







For sack and nylon printing

Sold to who exactly?? Thats the major question.

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

he didn't see jack

Smart guy! with smart children! People like him are far more valuable to the country than our leaching "heroes" called politicians who create nothing but consume everything.

Them ftc hunters no even send d article at all

I guess proposed use of electronic car is giving marketers sleepless night or what could have lead him to this decision...

This man is wise, he know that in 20 years time fuel won't be useless anymore that solar power and Electronic car will take over the market.

The man know say very soon, oil go become useless. I go see wetin abokis(parasites) go drag power for den. D man is smart to switch to power sector cox dats more demanding in dis hell called Nigeria.

No more money to manage it

Why divest completely. So he has no single stake in Forte oil again?

The power sector has become the next goldmine after the oil sector in this part of the world and the shrewd business people are really buying into it.

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

Bubu is no more paying humongous and fraudulent subsidies like they paid under Jonathan. Moreover, his friend, Dangote is set to dominate the downstream when his refineries comes on stream by end of 2020. They must have discussed and in order not to have issues with his friend, he cashed out fast and exited the downstream.

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

\

imagine you

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

na person go wash car for u say ( amen

Oil would have been almost totally phased out in a not-too-distant future. ..all the dude is doing is taking a wager that it will happen. And that's one of the ways you know a smart investor.

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

You are better than that. You are not defeated until u believe you are defeated. Think Big And Grow Big.

Kendumazy:
Simple business tactics. Diversification! You don't have to limit your thinking to one business. Nice one otemoney!

8GB Atm card flash drive for #1000 only.Check link below https://www.nairaland.com/4972442/clearance-sales-quality-8gb-atm

Selling a business is different from diversification.

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.

Hope is a wise decision.

power generation is still a virgin in this country.. wise decision

To think Dr Dre jay-z p.diddy and Oprah Winfrey are as rich or even richer than him shows how worthless the Naira is and how overrated and overhyped our business and rich men in Nigeria are Lol

pius4luv:
This man is wise, he know that in 20 years time fuel won't be useless anymore that solar power and Electronic car will take over the market.

All of you arw just surmising. Only a rich man knows what' hes going through.

Faithway10:
The Chairman of Forte Oil Plc, Femi Otedola, has announced that they have sold all  shares in the firm’s downstream business, to focus and consolidate on the gains of their power generation business, Geregu Power Plc.

This is coming more than three years after the firm sold 17 per cent of its equity to a Swiss oil trading firm.

The billionaire business man disclosed this on his Instagram page today, June 19th.

"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�" he wrote on Instagram.

Forte Oil, formerly known as African Petroleum Plc, operates majorly in the downstream sector of the oil and gas industry.

Recall that in 2018, the Oil magnate invested $350 million in a power generation company known as Geregu Power plc.

Otedola acquired the company in 2013 through a subsidiary of Forte Oil Plc, Amperion Power Distribution Company Limited.


Read more; http://www.amagitesblog.com/2019/06/billionaire-femi-otedola-sells-forte-oil-exits-fuel-business%E2%80%8B.html

This man is in debt and hes broke like.

Bad move.

Mehn that is a bold step and quite risky, don't think of it he would never go broke... supposing it was me I would maintain my share in forte while capitalizing on the profitability of power and invest heavily in it more then ten sources of income is not enough for me, that is how business greedy I could be... He knows what works for him... wishing him more successful years

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

If he have this mindset you have now, he will never be where he is today. Dream it and you will see yourself achieving it.

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.

Hw is dis diversification??