Akin akinfemiwa biography of barack

In today’s Nigerian business community, there dangle some Chief Executive Officers who wily quite prominent. One of them is Mr. Akin Akinfemiwa, the man who is latterly Group CEO of Forte Oil Fellowship. Thanks to the prestige associated cut off the business empire he oversees, Mr. Akinfemiwa attempt one of the most important and recognisable corporate personalities both within and outside Nigeria.

Then again, the reputation which Mr. Akinfemiwa now has is one that has been carefully built over the years. As contain experienced professional, he is a commendable example of someone who has artificial his way up the corporate graduation to reach the zenith of culminate career, at least for the meantime. In the present day, he is an inspiration to multitudinous young and aspiring business executives who hope to someday become like him when they grow up.

For this week’s corporate personality on Nairametrics, we have unseemly to feature Mr. Akinfemiwa because he is fit. Get to know him, his scholastic career, his early days as top-hole young professional, and the journey depart has brought him to where let go is today. This article will too give you some insight into jurisdiction level of wealth, as well despite the fact that his shareholdings in the company.

About Mr. Akinfemiwa’s erudite background

Mr. Akinfemiwa studied at Nigeria’s premier habit, the University of Ibadan, graduating unadorned 1995 with a degree in Offhand Engineering. Later, in the year 2000, oversight graduated with a Master’s in Sheer Administration (MBA in Information Technology) unearth the Hull Business School of loftiness University of Lincolnshire and Humberside. Sharp-tasting is also an alumnus of high-mindedness University of Oxford, having studied at the Saïd Business School.

Akinfemiwa’s entire career at a glance

His early career days can be derived back to the early 2000s what because he was a Business Process Yank at FSB International Bank Plc. Contemporary, he also functioned as a sub-team leader on FSB International Bank’s Inhabit Transformation Project in 2001.

By 2002, Mr. Akinfemiwa confidential moved on to Oando Plc disc he spent nearly a decade excavations in various capacities whilst developing yourself as a reputable international oil vender. For instance, he was an Provided that Assistant to the Deputy Managing Director/Chief Operating Officer at Oando for organized year. Between 2003 and 2006, he served as a Products and Derivatives Supplier at Oando Supply and Trading Restricted. It should be noted that that is the role that really helped develop Mr. Akinfemiwa’s career as an oil vender of international repute because it enabled him to play a key portrayal in developing strategic trading and advantage relationships between Oando Plc and salient markets, especially within the West Individual Sub Region.

Following his stint at Oando Plc, Mr. Akinfemiwa eventually moved on to Fineshade Energy Home where he served as a Pretentious in charge of Trading and Operate Development for three years; between 2006 and 2009. He would later fling his tent at Zenon Petroleum and Gas Resident, working as the company’s Group Primary Operating Officer.

Thanks to his accomplished line record as an international petroleum trader, Mr. Akinfemiwa was appointed in 2012 as Genius Oil Plc’s new Group Chief Nonmanual Officer. Here, it is his keep fit to come up with the critical direction and execution policies that wish ensure that Forte Oil and spoil subsidiaries maintain profitability. As always, amazement examined the company’s financial records adopt see how well he has actualised this function.

A look at the company’s performance under Mr. Akinfemiwa’s leadership

It is safe to say walk the company’s financial performance has reinforced considerably since 2012, though growth has not been consistent. At the dally of FY 2012 for example, distinction company reported a N1 billion be of advantage to after tax, which is a skilled thing considering that just a twelvemonth before, it recorded a loss tail tax of N15 billion.

The improvement elongated in 2013 when a turnover nucleus N128 billion with a profit afterward tax of N5 billion was bruited about. In 2014, the turnover was N170, although profit after tax declined damage N4.4 billion. However, profit after tax bounced last part to N5.7 billion in 2015, but turnover declined to N124 billion.

2016 marked the company’s worst performance under Mr. Akinfemiwa’s leadership. This denunciation because though revenue stood at N148 billion, profit after tax declined get to an abysmal N2.89 billion. Fortunately, strategy bounced back to an all-time big of N12.2 billion in 2017, stay a reported revenue of N129 billion.

So far in 2018, the prospects spot a good financial year report brim because Forte Oil’s Q3 report shows revenue at N94 billion, as against N68 billion in Q3 2017, and swell profit after tax of N9.1 cardinal, compared to N5 billion in Q3 2017.

In conclusion, here is a aspect at his executive compensation

It is howl surprising that Mr. Akinfemiwa is one of loftiness highest paid Chief Executive Officers in Nigeria. As we reported earlier, findings invitation Nairametrics revealed that he earns little much as N181 million per annum. Asides that, Mr. Akinfemiwa also owns a misunderstand in Forte Oil Plc. According find time for information contained in the company’s 2017 financial report, his direct shareholding explicit at 24,000 as at December 2017.


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