Friday, 26 March 2021

When Femi Otedola Was The Largest Owner Of Oil Tankers In Africa (Throwback Pix)

 


Nigerian billionaire businessman and philanthropist, Femi Otedola took to his Instagram handle to share photos of his investiture as the president of the Nigerian chamber of shipping in the year 2005, when he was the largest ship owner (oil tankers) in Africa, IgbereTV reports.


Sharing the photos, he wrote;

"Flashback Friday to April 21st 2005 (16 years ago), when I was the largest ship owner (oil tankers) in Africa. This day marked my investiture as the president of the Nigerian chamber of shipping ...F.Ote"
https://www.instagram.com/p/CM4HynsHl7-/?utm_source=ig_web_copy_link
 

In 2003, having seen an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company.

By 2005, Zenon Petroleum and Gas Ltd controlled a major share of the Nigerian diesel market, supplying fuel to most of the major manufacturers in the country including Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness. 

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