FG names Forte Oil one of Nigeria's top 100 companies, emerges overall winner of the 2014 Pearl Awards for listed companies.
Forte Oil Plc
Forte Oil PLC (formerly AP Plc) Nigeria's foremost indigenous integrated energy solutions provider has been awarded one of the Nigeria’s Top 100 companies by the Federal Government of Nigeria in a ceremony at the Villa in Abuja, the Federal Capital Territory, on Monday, December 1, 2014.
The Top 100 Businesses Initiative, according to the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, is set up to celebrate major investors and companies that are contributing to the development of the economy, whist creating a platform for public-private sector interactions on Nigerian economic policies.
This achievement followed the company’s emergence as the overall winner of the Pearl Awards set aside for companies listed on the Nigerian Stock Exchange at award ceremony in Lagos on Sunday, November 30, 2014. The award which is the overall honour of the PEARL awards, is instituted to recognize achievers, performers and drivers in the capital market. Forte Oil also clinched two other awards; the ‘market excellence in share price appreciation’ and ‘sectoral leader in the Oil & Gas sector’ to emerge the star attraction of the glamorous event.
Chief Molade Okoya Thomas who presented to Pearl Award to Forte Oil described the feat by the company as a testament of hardwork, diligence and commitment to providing valuable service to customers and value to its shareholders. Mr Tayo Orekoya, the President of the ‘PEARL Awards’ commended Forte Oil for winning the 2014 edition and urged them not to rest on their oars, but strive to sustain the drive for excellence.
Commenting, Mr. Akin Akinfemiwa, the Group Chief Executive Officer, Forte Oil PLC said: ‘We are very pleased to be recipient of these awards, which are testament of our commitment to excellence in performance and an unflinching quest for value creation of our shareholders. We remain dedicated to sustaining the trust of the general public and our stakeholders as we continue firmly in our drive to build a long-term successful company; making Forte Oil PLC the investment of choice through positive actions that boost investor confidence at all times”.
Other companies that bagged awards at the prestigious event include; Julius Berger (Sectoral leader construction), Custodian & Allied Insurance (Sectoral leader Insurance), Stanbic IBTC (Sectoral leader Banking), Dangote Cement (Sectoral leader Industrial Goods-Building material), UAC Nigeria (Sectoral leader, Conglomerates), Nestle (Sectoral leader, Consumer Goods-Food & Beverage), Nigerian Breweries (Sectoral leader, Consumer Goods- Breweries).
In the market excellence category awards the 2014 Pearl awards went to the following corporations; Arbico Plc (Turnover Growth), Roads Nigeria (Earnings Yield), Sterling Bank (Dividend Yield), Stanbic IBTC (Dividend Growth), Presco (Dividend Cover), MRS Oil Nigeria Plc (Net Asset Ratio) and Dangote Cement Plc (Net Asset Ratio)
It has been a season of awards for Forte Oil as the company in November, 2014, Forte Oil also received the award for ‘Brand Excellence in Oil & Gas’ by the Marketing World magazine for its distinguished and superior customer service delivery in the downstream petroleum sector. In addition, a leading financial intelligence hub ‘Proshare’ in its market analysis acknowledged Forte Oil plc as the ‘Best Turnaround Quoted Company Stock’, earlier in the year.
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