Breaking News

Otedola Sells Off 75% Stake In Forte Oil



Nigerian billionaire businessman, Femi Otedola, is set to sell his 75 per cent direct and indirect shareholdings in Forte Oil.

This was revealed by the Nigerian Stock Exchange in a statement on its official website

According to the the statement Femi Otedola has reached an agreement with the Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest of his full 75% direct and indirect shareholding in the Company’s downstream business.

Otedola’s divestment from the downstream business is pursuant to his decision to explore and maximise business opportunities in refining and petrochemicals.

No comments