In 2020, Sowami acquired a controlling stake in Forte Oil from Otedola’s Zenon Petroleum and Gas Limited.
"Abdul Wasiu sowami"
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Sowami owns 74.1 percent of the oil marketing firm’s issued shares.
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Abdulwasiu Sowami’s Ardova finalizes acquisition of Nigeria’s largest downstream oil group
Ardova is now Nigeria’s largest indigenous publicly-listed downstream energy group.
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Nigerian billionaire Femi Otedola’s Zenon Petroleum takes Ardova to court over $6-million debt
The winding-up petition adds to the pressures on Ardova and its majority owner.
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Otedola is not just one of Africa’s wealthiest individuals; he is a symbol of hope and inspiration.
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Folawiyo’s impact extends beyond the Yinka Folawiyo Group. His extensive leadership journey has significantly impacted various companies.
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As one of Africa’s richest individuals, Otedola continues to wield significant influence in Nigeria’s economic landscape.
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Nigerian billionaire Femi Otedola’s Zenon wins $19.2-million arbitration award against Ardova
Ardova reported a $8.93-million loss for the 2021 fiscal year.
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The company has an implied valuation of $579 million.
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Ardova dismisses winding-up order, as Femi Otedola’s Zenon serves majority shareholder petition over $6-million debt
The once promising relationship between Otedola’s Zenon and Abdulwasiu Sowami’s Prudent Energy has taken a new turn.