• Why billionaire oil magnate champions the masses’ rights
In a coven of greedy merchants, it takes unprecedented restraint to scorn the lure of extreme commerce. Such marvelous trait depicts the soul of a selfless magnate – an indisputable rarity in contemporary Nigeria. Femi Otedola is however, cut of such rare stock.
The chairman of Forte Oil flaunts a reputation for good judgment, for fair dealing and rectitude – which in itself is good fortune. Otedola, like the proverbial ethical rebel understands that the one thing that doesn’t abide by majority rule is a person’s conscience. Where the majority plays rogue, Otedola opts to play the people’s champion.
As the fuel scarcity bites harder, Otedola has instructed that all his filling stations must sell fuel to the citizenry at the legitimate rate of N87.00, 24 hours of the day and seven days of the week non-stop, especially the Lekki Phase 1 station. This is no doubt an unparalleled virtue and enviable business ethic at a time when fuel marketers and filling station managers are making a killing selling Premium Motor Spirit (PMS) at exorbitant rates.
While many filling stations and petroleum merchants are hoarding fuel and selling it at prohibitive rates ranging from N150/litre to N350/litre, Otedola has stubbornly stuck to his guns – he has refused to join the bandwagon thus he sells PMS at the normal rates.
On Lagos island particularly, motorists are having a field day buying fuel without hassles and at normal pump price at Forte Oil gas stations.
It would be recalled that Otedola endeared himself to the masses recently, following his decision to sell House Hold Kerosene (HHK) at N50/litre, being over 50 per cent reduction of its current pump price. The billionaire oil magnate effortlessly made a grand entrance into the pantheon of Nigeria’s 21st century crusaders by his action.
He called it ‘Buhari Kerosene’ and ordered all his fuel stations across the country to sell HHK at N50/litre in furtherance of his decision to identify with President Muhammadu Buhari’s bid to ameliorate the hardships faced by millions of Nigerians daily. The Forte Oil boss took the decision soon after he blew the lid off the activities of shady characters in the oil sector whom he blamed for selling House Hold Kerosene (HHK) as Jet A1 fuel, also called Aviation Turbine Kerosene (ATK), to airline operators.
With his decision to sell PMS at N87/litre at all his fuel stations nationwide, Otedola has no doubt affirmed his place in the hearts of poor, helpless masses erstwhile subjected to the avarice and extreme commerce of his colleagues and rivals in the nation’s oil sector. Perhaps rivals of the billionaire oil magnate will follow suit and emulate his conscious attempt to make life more bearable for the average man on the street.
