By Oladapo Sofowora
When billionaire businessman, Femi Otedola, introduced that he could be quitting the oil and gasoline sector by promoting off his shares in Forte Oil in June 2019 to delve into the vitality sector, many enterprise analysts noticed this as a mistaken transfer for the enterprise tycoon. The explanation stays why would anybody give up a profitable money-spinning enterprise that made him a family title.
Whereas aspiring billionaires and enterprise college students within the oil and gasoline business must study Otedola’s secret on how he was capable of navigate again to profitable methods after being hit by a fall within the international oil value over a decade in the past, the suave and gangling businessman is already writing a e-book for protegees to study.
Nonetheless, those that have are available in contact with the extremely cerebral enterprise mogul will reel out his means, shrewdness, and brilliance in making enterprise choices.
Regardless of his foray into the ability sector, Otedola, it’s believed nonetheless has wields the magic wand with which he turned across the fortune of moribund African Petroleum, AP, which he rechristened Forte Oil.
Certainly, barely a 12 months after he diversified into the ability enterprise, he has proved his critics mistaken.
Proof that he nonetheless possesses the Midas contact, his N64.3bn funding within the vitality sector, Geregu Energy Plant, is already giving his rivals sleepless nights. The corporate is just not solely yielding good funding, it has revamped the vitality sector for good.
Although he’s the son of a former Lagos State governor, late Sir Michael Otedola, FO, as he’s fondly known as, had sowed with sweats and at present reaping bountifully.
A few years after he floated his enterprise, he resolved to pursue his dream on a world stage. And although it regarded an inconceivable job, to start with, FO is swimming throughout international enterprise waters in success identical to his Nana yacht does throughout numerous waters.