Forte Oil to raise N50 Billion Capital

The board and management of Forte Oil Plc has concluded plan to raise N50 billion debt capital before the end of this year, December 31, 2016.

Presenting its “facts and figures” to Nigeria Stock Exchange (NSE) on Monday in Lagos, Group Chief Executive Officer of Forte Oil Plc, Mr. Akin Akinfemiwa, said the company has completed a capital raising programme.

 He explained that  discussion are ongoing with the management of  NSE, adding that the company’s  strategic focus is to increase supply of petroleum products as full deregulation intensifies.

 From Left to Right – R  Doyin Ogun, Manager, Investor & Govt. Relations, Forte Oil Plc; Tony Ibeziako, Head, Domestic Primary Market, The Nigerian Stock Exchange (NSE);  Julius Omodayo-Owotuga, Group Chief Financial Officer, Forte Oil Plc; Ade Bajomo, Executive Director, Market Operations and Technology, NSE; Akin Akinfemiwa, Group Chief Executive Officer, Forte Oil Plc; Akin Olagbende General Counsel, Forte Oil Plc; Tunji Rabiu, General Manager, Operations, Forte Oil Plc and Ayodeji Adelakun, Financial Controller, Forte Oil Plc at the Facts Behind the Figures presentation at the Exchange on Monday.