Billionaire businessman Femi Otedola makes $398million in 90 days | Welcome to Linda Ikeji's Blog

LI_Leaderboard_4

LI_Leaderboard_1

LI_Leaderboard_2

LI_Leaderboard_3

Tuesday, 3 June 2014

Billionaire businessman Femi Otedola makes $398million in 90 days

According to Forbes Africa, billionaire businessman Femi Otedola made $398million between March 3 to June 2. #Ojigbijigbijigbithings. Hehe. See their report below
Nigerian energy mogul Femi Otedola has become at least $398 million richer between March 3 and June 2 as shares of Forte Oil PLC, a Nigerian Stock Exchange-listed energy distributor, surged 167% in that period.
Forte Oil PLC is primarily engaged in the distribution of petroleum products such as diesel, aviation fuel and Premium Motor Spirit (PMS). The company has over 500 company-owned, dealer-assisted and dealer-developed gas stations spread across the country, oil storage depots in Lagos and Rivers states, a Power plant and a Joint User Hydrant Installation facility in Lagos. The company also sells its own range of automobile lubricants.
On March 3, the company’s stock was trading at N88.4 ($0.55), and at the close of trading today (Monday), its share price was N235.79 ($1.46). According to Akinbamidele Akintola, Vice President, Africa equity sales at Renaissance Capital, the recent unprecedented demand and surge in Forte Oil’s shares may not be unconnected to the company’s recent inclusion in the Morgan Stanley MS +0.13% Capital International (MSCI ) Frontier Market 100 Index. Listing in such indexes usually attracts interest from global investors who track these companies.

Otedola became the largest shareholder in Forte Oil (formerly called African Petroleum) in 2007 when he acquired a 28.7% stake in the company from the government-owned oil company, the Nigerian National Petroleum Corporation (NNPC) for $120 million. He subsequently appointed himself as chairman of the company. Otedola, 47, has gobbled up additional shares over the years and now owns more than 40% of the $1.5 billion (Market Capitalization) company. According to information available from registrar sources, he currently owns 436,809,537 shares valued at N103 billion ($635 million). He pocketed at least $11 million in dividends from profits made by his company in February as Forte Oil paid shareholders a dividend of N4 ($0.0023) per ordinary share from its 2013 profits. A representative for Femi Otedola could not be reached for comment at press time.

Source: Forbes

79 comments:

Anonymous said...

It's all about oil business..

#GoodGOD

Anonymous said...

Mehnn nigerians are mKing it big time.

Bonita Bislam said...

Whew! *Eyes popping* And WTH am I still doing managing my status quo? Lol.Damn! This man is balling NO DOUBT#wink

Anonymous said...

Linda ikeji, stop counting people's money, it is bad manners

Anonymous said...

hope when he dies, he will take the money to the after life to spend

Anonymous said...

Who is this

Anonymous said...

Damn!! This is the real definition of STUPID MONEY!! Owo ton binu!! #MadeMen

DOBY DOBY said...

Nigeria is looking for 20b nd see wat dis man earns.. I hope he has charity organisations. . Lucky man

Anonymous said...

It's a bad habit to count other people's money linda&forbes

Anonymous said...

Iinda I beg make you drop his number,I get business way I wan talk with am.

fine girl poor english said...

HNMMMMMM... God will see all of us oo... chaiii

Anonymous said...

Iinda I beg make you drop his number,I get business way I wan talk with am.

Unknown said...

Hardwork pays and lemi nt see y''all talking abt tapping into his blessings. Work hard...

Eddy Ogbunambala said...

Choi! So much money

cherry said...

Na wa o

Anonymous said...

Pls whrs hs son?
~D great anonymous!

cherry said...

Na wa o

Kester Eke said...

Baba lowo......he made his money from blogging ooooo.just like linda...he he he

Unknown said...

I procliam it oh

Anonymous said...

Mehn there is money in oil o! Chai.

Nigerians to expect blackout as power generation drops by 1000MW

Anonymous said...

if u can take d risk, u'll see d benefits. it takes guts.











Discover how to make legal and cool income from your phone daily here. click













EbonyAma said...

Hmmmmm, God pls continue to bless me and my husband, we will be richer Dan dis man soon, Forbes watch out 4 us ooo. I tap from dis man riches.

Unknown said...

awwwwww...
dats a big one...
it keeps getting beta.......

BONARIO NNAGS said...

Does it mean that asides oil business, he doesn't any other business that helps promote the middle class entrepreneurs.
Nigeria is richly blessed but its represented by few privileged citizens.

~BONARIO~says so via NOKIA LUMIA

Unknown said...

wow, and am here struggling to earn an iota in a month.. diaris God ohh

Okoro said...

Could be much more sef.

Anonymous said...

Wow! Baba God, give me good ideas too that will make me a billionaire.


CoolDiva speaks!

Unknown said...

There is God O...

Unknown said...

Ewooooo!!! God bless me like dis oo!! Dis is money mehn!! Living d good life!! I tap taper tapest into his blessings!!

bbm 7439955a said...

He over 60billion naira in 3months. Mmm. ENGR Emy

Anonymous said...

I tap from your Blessings

Ameriestyle said...

Oh wow..In just 90 days?? Wow
www.ameriestyle.blogspot.com

Steveosky 4 Real. said...

Zombie. U won't go and look for senators again? U wan tap Wetin ? Gay fool

Steveosky 4 Real. said...

Issorraiii ... God dey !!

Anonymous said...

Omg see money

Anonymous said...

Why always in Nigeria all this bull-shit hapns..? This guy was arrested n questioned for subsidy money whatever around 20012-2013 n til now we can't figured out wht ends the case.. And. now same guy said he makes $398million in
90 just days...and here u r all praising him...

Has EFCC quickly forgot bout him or d case just like tht?
And I can say it many times again tht the rich ppl can strived away with any offense in our beloved country only d poor r in problem...

#GodBlessNigeria

Anonymous said...

Even there's no refinery tht can make sure money in a 6 months....

Unknown said...

And i dont knw him untill nw.... Why will a country as rich as nigeria be suffering like this......
.
.
.
***CURRENTLY IN JUPITER***

Anonymous said...

Linda, I will like to know what he has done in return for his country to benefit the ordinary man/ woman.

Unknown said...

talk am! U tap... Go work hard, finish school joor instead of posting arikwa pics here. Ina a tap isi gi na odu gi

Anonymous said...

Nawaoooo me still dey here dey collect peanut every month, oga abeg just employ me na chai .CHI.

ary said...

That is wicked money man! Is he in the top 10 richest men in Africa, cos with that money he oughta.

Livvsreamblog said...

God please answer me on time

oludayo said...

Nigerians are making it in all specialization these days and that is why the so called developed countries are using all means to bring down this my lovely country e.g the boko harram insurgency. Cum 2020 I know nigeria will be among the developed countries ijn.

Anonymous said...

Na we get the oil, na we dey suffer d consequence of oil exploratio, but person from another ethnic group dey enjoy because of corruption in privatization. Diaris God o o

casman said...

God, I thank you for the life of this man and I tap into his blessings in jesus name........Amen

Unknown said...

Owooooooooooooooooooooooooooooo
Moneyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy
Egooooooooooooooooooooooooooooo
Kudiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥ 

Niyi said...

Yes he will continue to make such huge wealth as long as PHCN never works and we all keep carrying jerrycans to the fuel station to pay for fuel to power our generators. Men like this re the reason Nigeria won't work 'cos if she does, they re out of business!

Anonymous said...

Didn't i warned you? U this Alloy of a person. Na only congratulobia dey ur dictionary

dilinger said...

Bad belle; stop blogging and start generating ideas or do some decent work geeez

Amarachukwu. said...

They don't say...he is really making money.

zibaintl said...

CONGRATS to him....but it is oil frm niger delta....hw many Niger deltans are in oil buisness...yet its niger delta dat suffers frm environmental degradation of all sort. c wat d so called Nigeria has done to dat region...its d northerners and westerners dat are d oil moguls yet dis abokis/mallams will not allow d region dat is feeding d nation to rule, d region dat they deprived frm devt by allocating oil blocks to demslves..dey are up there having oil wells in d creeks of d nger delta region...daris God.it is a matter of time..we will surely have resource control..

Anonymous said...

Okay,no problem,am happy for you otedola...this is my request..please marry me,or better still make me a for life concubine.Thanks for granting me d requestt.

Anonymous said...

So what if dis foolish fool is a tad bit richer and d poor keeps getiin poorer. No free education, acomodation, transportation and health care for the less privileged. Wt impact haas this un explainable wealth don! To me his weaalth is invalid. Pls post beneficial news. We don't Wana heaaar about Nigerian criminals. #angry-student

Anonymous said...

These men make their money from destroying other peoples business. Dangote destroyed every cement importer in. Iberia, especially ibeto, femi otedola is involved in so much racketeering in the oil industry. Dog eat dog

mrpencil said...

#dorobucci

Anonymous said...

Can u imagine this was the man Ifeanyi ubah was competing with before but now the difference is far, may God help us al, Amen

Unknown said...

good for him,he should pls remember the needy.

Anonymous said...

we are living in a society where the rich gets richer. we all can attest to the inherent employment situation in the oil sector. If you are not a governor or ministers son/daughter nothing for you(if u like be professional in that field)

Let the business moguls share the national cake and give employment to credible and talented minds (like me*wink*. Mr. Otedola i salute ur achievements.
#PICCANTO#

Unknown said...

Lord, i tap ιηтσ this anointing amen!

APPLE said...

THIEVES!!!!!!!

Anonymous said...

Are you looking for a sugar mummy or daddy please call dis 09096552678 please be mature...

Anonymous said...

Niyi you are intelligent, and you said it all#men like otedula are the reasons naija will never,succeed if she does, there illegitimate runs will be blocked asap

Mischievous said...

What's the point of accumulating so much wealth when depravation stalk's the land?.

Anonymous said...

He owns a lot more than 40%. His wealth is underestimated. I know bcos I bought a lot of Forte Oil shares for him on the Exchange. He is an active player in the market

Anonymous said...

He owns a lot more than 40%, his wealth is underestimated. I know this bcos I bought a lot of Forte Oil Plc shares for him on the Exchange.

Anonymous said...

those shares are not liquid at all, d number traded daily are not even up to a million. they are just pushing up d price stupidly.

Unknown said...

oil money
my country where the rich are getting richer, while the poor are poorer.



BORN TO SHINE!!!

ebonydoc said...

*warn not warned @ anon 11.22am. At d point I prefer dat Alloy kips saying dis his stupid cogratulobia, rather than u with "gbagaun" #str8face#

Soul said...

It is durty money! Chayi

Anonymous said...

@#GodBlessNigeria

Femi Otedola isn't one of those arrested for oil subsidy fraud. In fact Madam Ngozi praised him for playing by the rules.

Anonymous said...

Every Nigerian deserves a oil block so we can share our wealth equitably. Not only for the rich and well connected. Smh

Anonymous said...

This is pure spite bro. Uneeded. And he actually has a daughter who is doing her own thing with her God given talents and representing Nigeria whom he can and will leave it to. Ours will come don't be bitter.

Anonymous said...

see money ooo

Anonymous said...

Femi will kill ur dream if you try share dem with him, he's a pathetic miserable wicked liar!

Anonymous said...

Femi is a wicked man

Unknown said...

Who was Femi Otedola when his father was still a printer in Randle Avenue, surulere, they all rob Peter to pay Paul. What was wrong with African Petroleum? Why did the Nigerian government privatized it. Everything they privatized was cleverly sharing the peoples wealth to a privileged few. In civilized countries he would have been made come clean on his source of sudden wealth because his father miraculously became a Lagos State governor.

Anonymous said...

Abeg wey him house dey? Or who get him numba! I must runs him

Anonymous said...

More money for your god Tiwa. Fucking things.

Recent Posts