Standing like the giant Iroko tree that will never bend despite a heavy storm, Femi Otedola stands firm in the leagues of astute businessmen with a Midas touch of Gold. He has seen it all in business and he deserves all the accolades and recognition he is getting today as a man who against all odds bounced back despite a tsunami set to sweep him under the carpet. All thanks to his dogged and resilence nature; he was able to bounce back with more firepower like the proverbial ram that moves back during a fight. Give it to him, he is a master strategist and a warrior who knows when to strike and ceasefire. More reason when he announced the sale of his stake in Forte oil to invest heavily in Geregu Power nobody doubted the reason for his motive.
When it comes to business, sitting with the Epe man will avail anyone series of lectures and teaching you cannot get in the four walls of the university. He is an embodiment of knowledge that if you engage him in conversations on politics, Real estate, Agriculture his delivery will be witty and spontaneous that you will be marveled at his repertoire of knowledge. His sojourn to success, if well scripted by a prolific writer and harnessed with world-class characters embedded with great spectacle and other embellishments it will make a sold-out box office movie.
According to sources, the expectation and high hopes he envisaged when he quit his oil and gas business to invest close to 94 Million Dollars in Geregu power plant were not met. After the huge investment, he pictured a massive Return on Investment after increasing the production capacity of the power plant. “The reason FO sold his stake in Forte Oil was because of the massive technological revolution the world is currently embracing. The world is moving away from fossil fuel to renewable energy using solar-powered cars and the likes coupled with the decline in global oil prices among other reasons. Every businessman sets targets for their self and it’s expected that if you invest in a business, you are expected to make a profit. Well, the investment is a viable one for him but currently, it’s not yet a money-spinning investment for him. He believes in gradual process and patience that someday all he had pictured with turn into reality. He has his hands in many pies of business. If Geregu is not bringing the kind of ROI he is expecting, other business investment is surely closing the gap.”
