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Nairaland Forum / Nairaland / General / Business / Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business (42212 Views)
Breaking: Femi Otedola Leaves Forte Oil As Chairman / Femi Otedola To Sell His Forte Oil Shares / See The Dilapidated Road That Femi Otedola's Forte Oil Rehabilitated In Lekki (2) (3) (4)
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Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by King44(m): 5:08pm On Jun 19, 2019 |
brookz:likely what might have happen, as a smart business man he know when to call it quit 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by 400billionman: 5:13pm On Jun 19, 2019 |
BubuZombi: Power |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by seunoj: 5:13pm On Jun 19, 2019 |
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 2 Likes |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by crackhouse(m): 5:15pm On Jun 19, 2019 |
PstTobi:oh OK. U are ok with him been rich while u are still poor? 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Angelfrost(m): 5:16pm On Jun 19, 2019 |
Earthquake3: As in... The oil industry is basically finished. |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by ChristianNorth: 5:17pm On Jun 19, 2019 |
qualityovenbake:Petrol, kerosene, coal, gas are examples of fossil fuel. Green energy is the future, boss. 2 Likes |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by DavidOluyale(m): 5:17pm On Jun 19, 2019 |
Dozie32: Poor thinking 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Kendumazy(m): 5:18pm On Jun 19, 2019 |
PatrickOkunima: Selling a business to go into another business is diversification sir. 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by dongc(m): 5:19pm On Jun 19, 2019 |
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. |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by qualityovenbake(m): 5:20pm On Jun 19, 2019 |
ChristianNorth:I totally Agree with you. Green Energy is the future. 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Acidosis(m): 5:26pm On Jun 19, 2019 |
Ijaya123: 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. 4 Likes |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by helixmanager: 5:28pm On Jun 19, 2019 |
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. |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by PatrickOkunima(m): 5:28pm On Jun 19, 2019 |
Kendumazy: It's divestment and not diversification. Please do not argue, just do your research. |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by CanadaOrBust: 5:29pm On Jun 19, 2019 |
Stop giving wrong info. Femi Otedola is not a billionaire
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Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Kendumazy(m): 5:30pm On Jun 19, 2019 |
PatrickOkunima:OK sir. Thanks |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Xano(m): 5:34pm On Jun 19, 2019 |
Earthquake3: 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 2 Likes |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Acidosis(m): 5:37pm On Jun 19, 2019 |
qualityovenbake: 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. 4 Likes |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Rockandroll(m): 5:39pm On Jun 19, 2019 |
Nice move |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by lafuria1(m): 5:40pm On Jun 19, 2019 |
No free subsidy money 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Ijaya123: 5:42pm On Jun 19, 2019 |
chinchonglee: Divestment I mean to type. Happy now? |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Ijaya123: 5:43pm On Jun 19, 2019 |
Acidosis: Gracias |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by alphaNomega: 5:43pm On Jun 19, 2019 |
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. 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by naijajobx: 5:45pm On Jun 19, 2019 |
Hmmm |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by CanadaOrBust: 5:49pm On Jun 19, 2019 |
Frankyboy1: It is called LUCK and it applies in everything. He must taken some big RISKs |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Nobody: 5:50pm On Jun 19, 2019 |
Jaynom: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! |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by CanadaOrBust: 5:51pm On Jun 19, 2019 |
dongc: If he’s so smart how come he went from $1 billion to now worth $300 million |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Jaynom(m): 5:53pm On Jun 19, 2019 |
sisipelebe:LMAO 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Ugosample(m): 6:07pm On Jun 19, 2019 |
Frankyboy1: interesting |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Ugosample(m): 6:10pm On Jun 19, 2019 |
beamtopola: I know of him being in debt But as for broke? don't know bout that |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by Ugosample(m): 6:12pm On Jun 19, 2019 |
CanadaOrBust: he is still a naira billionaire sha That counts for something 1 Like |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by CanadaOrBust: 6:21pm On Jun 19, 2019 |
Ugosample: Half Igbo businessmen are naira billionaires 2 Likes |
Re: Billionaire Femi Otedola Sells Forte Oil, Exits Fuel Business by dongc(m): 6:30pm On Jun 19, 2019 |
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: |
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