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Billionaire businessman, Femi Otedola, has announced the sale of Forte Oil Plc.

Otedola, who was chairman of the oil firm, had announced plans to sell off his 75 per cent stake in the company to “maximise the opportunities in refining”.

In a message he posted on on Wednesday, he confirmed that the process is now complete.

According to Otedola, he is now prepared to focus on his in the power sector.

“A few years ago, my team and I embarked on an arduous task of transforming a moribund petroleum marketing , African Petroleum Plc (formerly British Petroleum) into Forte Oil Plc; a leading integrated solutions provider with solid footprints in downstream petroleum marketing, Upstream Services and Power Generation and one in which we built intrinsic value to the benefits of our shareholders.

“In line with my principle of business focus, we have divested from our marketing and upstream businesses and shall from now on focus and consolidate on the gains of our power generation business, Geregu Power Plc. We wish our successors the very best and urge them to build on our legacies which have been established since 1964,” he wrote.

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Abass Sulaiman Adegoke, well known as Adegoke is a student of Federal Polytechnic Ede studying Civil Engineering, He is a media enthusiast, loves traveling, and has a special interest in personal development.

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    December 21, 2019 at 11:32 pm

    A round of applause for your blog post. Much thanks again. Want more!.

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COVID-19: Nigeria Records 182 New Cases, Total Rises To 8,915

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COVID-19: Nigeria Records 182 New Cases, Total Rises To 8,915 NCDC

The Nigeria Centre for Disease Control (NCDC), on Thursday, announced that the country has recorded 182 new cases of Coronavirus (COVID-19), bringing the total number of infections in Nigeria to 8,915.

The NCDC disclosed this on its verified Twitter handle on Thursday night.

“On the 28th of May 2020, 182 new confirmed cases and 5 deaths were recorded in Nigeria. No new state has reported a case in the last 24 hours.

“Till date, 8915 cases have been confirmed, 2592 cases have been discharged and 259 deaths have been recorded in 35 states and the Federal Capital Territory.

“The 182 new cases are reported from 16 states; Lagos-111, FCT-16, Akwa Ibom-10, Oyo-8, Kaduna-6, Delta-6, Rivers-5, Ogun-4, Ebonyi-4, Kano-3, Plateau-2, Gombe-2, Kebbi-1, Kwara-2, Bauchi-1, Borno-1,” it said.

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Presidency lists President Buhari’s achievements as he marks 5 years in office

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Presidency lists President Buhari’s achievements as he marks 5 years in office President Muhammadu Buhari 600x338 1

Ahead of May 29, the Presidency on Thursday, gave a factsheet of President Muhammadu Buhari’s administration in the last five years.

Buhari’s Special Adviser on Media and Publicity, Femi Adesina, said Nigeria had recorded significant improvement in the area of security under the current administration.

Adesina insisted that Buhari’s administration was closed to extinguishing terrorism and criminality from Nigeria.

He stressed that from May 29, 2015, till date, the Buhari administration has made much impact in every sector, thereby touching the lives of Nigerians.

The presidential spokesman, while affirming that the Change promised by Buhari was a work in progress, however, assured that the administration wouldn’t be distracted.

According to Adesina: “May 29, 2020, marks the end of the first year of the second four-year term of the Muhammadu Buhari administration, and the fifth year of the government in office.

“The government swept into office on the wings of Change, and that Change has been wrought in nearly all phases of national life. Where the lofty goals are yet to be attained, it is work in progress, and eyes are firmly fixed on the ball. No distraction.

“The three umbrella areas on which the government based its interventionist agenda are: security, reviving the economy (with particular emphasis on job creation, especially for youths), and fighting corruption. In these three areas, where we are today cannot be compared with where we used to be.

“By May 2015, insecurity had badly fractured the fabric of the nation. No one could wager that the country would survive the next month, not to talk of another year. Bombs went off like firecrackers, insurgents ran riot round the country, other forms of crime and criminality held sway. Life was nasty, brutish and short.

“Over five years, the battle has been taken to insurgents and criminals. And they are being extinguished by the day, and very close to complete extirpation.”

In the area of economy, Adesina insisted that Buhari has retooled Nigeria’s economy through diversification from petroleum.

He said manufacturing, Agricultural, and solid minerals sectors now contribute to the countries Gross Domestic Products, GDP, under Buhari’s administration.

Adesina insisted that Nigerians now eat what they plant due to the high level food security.

He said: “The economy, long dependent on a mono product – petroleum, is being retooled, refocused, with diversification as a task that must be accomplished. Agriculture has been given a fillip, manufacturing has got a shot in the arm, and solid minerals are contributing a large chunk to the Gross Domestic Product (GDP).

“The country is very close to food security, with rice, beans, maize, millet, and all sorts of grain no longer imported. We now eat what we grow.”

He boasted that the federal government was committed to the fight against corruption

“On the war against corruption, no quarter is asked, and none is given. Commit the crime, do the term. No retreat, no surrender.

“Facts speak for themselves. And that is what we present at this auspicious season of the fifth anniversary of the Buhari administration. Facts are stubborn things, no matter how anybody tries to deny, distort or deride them,” he added.

Meanwhile, a lawyer, who wished not to be named, in a chat with DAILY POST, rubbished Adesina’s fact sheet.

He insisted that Buhari has not little since assuming power in 2015.

“I have not read the fact sheets but based on what is on ground that everybody is seeing, this administration has not poorly in the past five years of being in power.”

When informed that Buhari claims to have done well in security, economy and fighting corruption, he said: “Is it the poorly equipped military fighting insurgents or the economy that keeps depreciating daily that they want us to clap for them for?

“The corruption they claim they are fighting, how many APC members have been convicted, are they telling us that APC are saints? You see that the opposition are being harassed daily.”

Just few days ago, a Northern elder, Tanko Yakassai had described Buhari as an incompetent leader who has failed to fix the problems for which he was elected.

Yakassai insisted that the past five years had exposed Buhari as a president who can’t fix the problems of Nigeria.

Recall that the senate in January had passed a vote of no confidence on the Military, police and other security structures in Nigeria.

This followed the spate of crime witnessed across the country.

Nigerians, specifically in the North have been victims of Boko Haram, herdsmen, armed bandits and kidnappers, despite security.

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