Chairman of Forte Oil Plc., Femi Otedola has announced his exit from the petroleum marketing company to narrow his focus and interest on a power generation business, following the sale of the entirety of his 75 per cent direct and indirect shareholdings in the company and the group’s diversification from marketing and upstream sector to power... Read More

Femi Otedola, Forte Oil, Geregu Power Plc., Zenon Petroleum

October 17, 2016

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Otedola no longer a billionaire – Forbes

Nigerian businessman Femi Otedola has fallen off the billionaire cadre of entrepreneurs. According to Forbes, Otedola who is the Chairman of Forte Oil, suffered the plunge as he lost $1.3bn following a fall in the stock price of the company. Forbes said, “As at the close of trading on Friday, Forte Oil’s share price plunged to a... Read More

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billionaire, Business, Femi Otedola, forbes, Forte Oil, income

September 26, 2016

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Tanker crushes driver to death in Lagos

A tanker in the early hours of Sunday crushed a man to death at Ikorodu roundabout in Lagos, The Nation reports. The accident occurred at about 3am when the tanker marked AGL664XG lost control and rammed into the driver of an Hyundai car marked KJA421AH while trying to make a u-turn. The tanker belonging to... Read More

The News Blog

accident, Forte Oil, Ikorodu roundabout, lagos, LASEMA, NEMA, tanker

September 12, 2016

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How NNPC, Tinubu, Adenuga, Otedola, Ubah, others owe Nigerian govt N86bn

The federal government is being owed at least N86.4 billion as at July 21, 2016 by marketers of petroleum products, according to Premium Times. The major culprits are members of the Major Oil Marketers Association of Nigeria (MOMAN) and the NNPC Retail (mega filling stations). The debts owed by the marketers are for products allocated to the... Read More

The News Blog

Capital Oil, Conoil, Femi Otedola, Forte Oil, Ifeanyi Ubah, mike adenuga, nnpc, Oando PLC, ppmc, Wale Tinubu

December 9, 2014

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Fuel scarcity looms as long queues appear in #Lagos filling stations

by Kelechi Anabaraonye and Hycinth Iyereosa In various parts of Lagos, long queues are beginning to appear at fuel stations, as motorists have to wait for hours before getting their cars filled. At Forte Oil, in Ojuelegba, where the queue is still minimal, and gradually increasing, a female attendant disclosed that ‘hoarding’ of fuel by... Read More

The News Blog

filling station, Forte Oil, fuel scarcity, Ojuelegba

October 13, 2014

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Mavin First lady, Tiwa Savage turns pump attendant (PHOTOS)

by Damilola Jagun Singer, Tiwa Savage, has taken up one of her responsibilities as brand ambassador for Forte Oil Petroleum Company. Tiwa was spotted working as a fuel attendant in a filling station this morning. The Mavin artiste shared the photos on her Instagram page, with the caption, ‘Good morning #MyDarlings I’ve been up bright... Read More

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September 19, 2014

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Forte Oil and Oando are in a tango, but are trying to keep sealed lips

by Tunji Andrews The excitement that was short lived on Thursday about the second largest down stream sector player in Nigeria, buying over the downstream assets on the largest indigenous upstream sector player Oando, had the financial markets momentarily confused on Thursday. The news initially broke directly from the official website of the Nigerian Stock... Read More

The News Blog

downstream assets, Forte Oil, Nigerian Stock Exchange, Oando PLC

June 11, 2014

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Daddy’s (not so) little girl: Billionaire Femi Otedola’s daughter poses with him on the cover of Genevieve (LOOK)

by Akan Ido You don’t get to see billionaire oil magnate, Femi Otedola on magazine front covers everyday so this explains our excitement. And he’s not alone, the Zenon Oil boss is with his daughter, DJ Cuppy, wearing an all white outfit as it is his wont. The Otedolas are the cover stars of Genevieve... Read More

DJ Cuppy, fathers day, Femi Otedola, Forte Oil, genevieve, nigeria, Oil and Gas, Zenon Oil

September 26, 2012

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Elumelu, Otedola, others take over power generation plants

by Isi Esene The financial bid process for the Power Holding Company of Nigeria successor Generation Companies attracted a number of notable businessmen such as Tony Elumelu, Femi Otedola and several others. The bidding was organised by the Bureau of Public Enterprises (BPE) the privatize the generation component of the supply of electricity to the... Read More

Amperion, Femi Otedola, Forte Oil, Geregu, Ibrahim Babangida, Niger State, Obinna Ufudo, power plant, Tony Elumelu, Transcorp, Ughelli

Just In: Femi Otedola finally exits Forte Oil to chair new company

Otedola no longer a billionaire – Forbes

Tanker crushes driver to death in Lagos

How NNPC, Tinubu, Adenuga, Otedola, Ubah, others owe Nigerian govt N86bn

Fuel scarcity looms as long queues appear in #Lagos filling stations

Mavin First lady, Tiwa Savage turns pump attendant (PHOTOS)

Forte Oil and Oando are in a tango, but are trying to keep sealed lips

Daddy’s (not so) little girl: Billionaire Femi Otedola’s daughter poses with him on the cover of Genevieve (LOOK)

Elumelu, Otedola, others take over power generation plants

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