Otedola Sold Diesel From Door-to-Door Before Building Oil Company
Billionaire Femi Otedola revealed in his autobiography "Making Big Lessons in Life" that he started his oil company, Zenon Oil, by selling diesel door-to-door. He emphasized the importance of seizing opportunities and expanding to meet demand.
Otedola shared how he transitioned from buying diesel on a small scale to importing in bulk and establishing a tank farm. At its peak, Zenon Oil was making $6 million a month globally.
However, the 2009 oil meltdown caused financial difficulties for Otedola's empire, with a drop in crude oil prices and devaluation leaving the company heavily indebted. Otedola described how his fortune changed drastically, going from being a bank darling to facing immense pressure.
This story highlights the challenges and successes of Otedola's journey in the oil industry.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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