Femi Otedola’s New Forte

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Femi Otedola

From the outset, billionaire Femi Otedola has always showcased his shrewdness and brilliance as a businessman.
Those who were in doubts had a rethink after he bought over and turned around the moribund African Petroleum, AP, which he rechristened Forte Oil.

Blessed with proven magic wand, he successfully re-jigged the company from its former declining state to a flourishing one that became a brand to beat in the sector.

This, as he has reiterated on several occasions, did not come without a sweat.

He actually toiled and sweated to put the oil company on a competitive edge today.

It was, therefore, understandable that many expressed great shock when news broke that he was planning to sell off his 75% stake in the company.

It was the biggest story not only in the business sector, but also among many across all walks of life.
For those who know him too well, Otedola, it is believed, must have thought it out.

“Femi Otedola is, indeed, a guru in the field. He knows when to invest and he knows when not to. He is an encyclopedia and cognoscenti in the business world,” a source said.

Just as the story of his Forte Oil sales made the biggest story, his diversification into power is currently a major discourse and enjoying front cover on the dailies.

For many who don’t know the Lagos State-born business mogul, he is not new in the power sector, he acquired Geregu Power plant in 2013.

Society Watch gathered that he is only shooting up his stake and giving his all in the sector, just as he did in the oil sector.
A source divulged that with the new billions of Naira he just invested in Geregu Power Plant, he is already giving his rivals sleepless nights.

He is fully showcasing his new forte.

‘’With the new funds he injected and his full attention and focus, the power sector in Nigeria will definitely not remain the same again,’’ another source added