Nigerian businessman Femi Otedola's net worth has plunged from $1.8 Billion to $550 Million following a massive drop in the stock price of Forte Oil, the Nigerian Stock Exchange-listed petroleum marketing company
Nigerian billionaire oil magnate Femi Otedola has crashed the price of House Hold Kerosene (HHK) in the country.
Mercuria Energy Holdings SA, a Swiss oil trading firm, has acquired a 17% stake in publicly-listed Nigerian petroleum marketing giant Forte Oil Plc for $200 million from billionaire Femi Otedola.
Forte Oil, West Africa’s largest petroleum marketing company which is controlled by Nigerian billionaire Femi Otedola, plans to raise up more than $503 million to expand its business across Nigeria.
Nigerian billionaire Femi Otedola has lost more than $400 million of his personal fortune over the last 9 weeks as the stock price of Forte Oil, the Nigerian-listed energy behemoth he controls, shed off 43.5% in value within that pe...