According to information from the Nigerian Exchange Limited (NGX) on Thursday, Otedola acquired these shares through Calvados Global Services Limited at N21.97 per share.
Previously holding a 7.01% stake, Otedola's increased investment still places him behind Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.
Otedola's diverse investments span port agency, shipping, storage, and insurance brokerage.
He notably acquired African Petroleum in 2007, which became Forte Oil and was later sold and renamed Ardova.
Additionally, he took Geregu Power public in October 2022, which contributes about 9% of Nigeria’s grid electricity.
Otedola has held various board positions, including President of the Nigerian Chamber of Shipping and past Chairman of Transcorp Hilton Hotel, Abuja.
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