Geregu Genco takeover will diversify income, Forte Oil assures

Management of Forte Oil Plc, on Thursday in Lagos, assured investors that the group’s diversification plan will enhance earnings and profit for the good of all stakeholders in its value-chain, particularly the impending take over and restructuring of the Geregu Power Generating Plant.

Speaking on the company’s “Facts behind figures” to provide investors insights into the company’s operations and plans, on the Nigerian Stock Exchange (NSE), Forte Oil’s Group Chief Executive Officer, Akin Akinfenwa, said the power asset acquisition is part of its medium term goals, to diversify group earnings across the energy value chain.

Also, he assured that Forte Oil will increase presence, and expand its West Africa business by foraging into Liberia, Togo, Sierra Leone, besides expansion into alternative energy and midstream oil and gas, through joint ventures, strategic alliance and acquisitions.

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