Mr Femi Otedola who is the chairman of Forte Oil on Wednesday, announced his final exit from the oil company, says he now wants to concentrate on Geregu Power Plc which he acquired in 2013.
The philanthropist and businessman who took to social media to announce his exit from the company disclosed on his verified Instagram page, that he has divested from the business and will now concentrate on his power generation plant.
Otedola had announced in December, that he would divest his 75% stake in Forte Oil Plc.
The divestment was completed on Wednesday; selling his majority shareholding to Prudent Energy, a local oil trading firm.
Otedola who is estimated to invest $1 billion in the power plant says the acquisition was a sign of his commitment to the federal government’s power sector recovery plan.
Nigerians are inspired, excited and hopeful that this move will revive the power challenges currently experienced in the country.