Bashir Fakorede Transforms Oil Business from Humble Roots

Bashir Fakorede, known for his strategic approach in the oil industry, grew up in Obalende, where he observed his mother working as a trader after his father abandoned the family. He moved to Apapa to live with his uncle, who guided him into the petroleum sector.

Fakorede began his career with an independent petroleum marketer and later constructed petrol stations around Badagry. In 1996, at age 26, he seized the opportunity to operate an African Petroleum station in Obalende, requiring N1.2 million in capital.

He had saved N700,000 and received a loan of N500,000 from his mother-in-law. He faced challenges with unreliable third-party transporters, prompting him to gradually assemble his own tanker to control transportation.

His business expanded from Obalende to Idiroko, Badagry, and beyond, with the Ikate station commissioned in 2011.