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Nigerian Breweries MD joins Forte Oil board as independent director

09 Dec 2016, 06:42 pm
Financial Nigeria
Nigerian Breweries MD joins Forte Oil board as independent director

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- Forte Oil said the appointment will enhance its already versatile Board in ensuring that the company continues to fulfil its vision of being the foremost energy solutions provider. 

Forte Oil

Forte Oil, a leading Nigerian petroleum marketing company, has appointed the Managing Director of Nigerian Breweries, Nicolaas Vervelde, as an Independent Non-Executive director, according to a statement released by the Nigerian Stock Exchange on Friday.

“The appointment of Vervelde as an Independent Non-Executive Director will bring a wealth of knowledge to the Board of Directors of Forte Oil, following from his diverse experience,” the statement said.

Vervelde has been at the helm at Nigerian Breweries – which is controlled by Dutch beer giant, Heineken – since 2010. He is a Board member of the Nigerian Economic Summit Group and sits on the Advisory Board of the Lagos Business School. Vervelde started his career with Heineken in 1984 and has held several senior management positions across the company’s divisions in Europe, Bahamas, Africa and the Middle East, the Caribbean and Central America.

“This appointment will also enhance the already versatile Board of Forte Oil in ensuring that the Company continues to fulfil its vision of being the foremost energy solutions provider and be in the forefront of global best corporate governance practice,” the company said.

Forte Oil, formerly African Petroleum (AP), operates over 500 fuel service stations across Nigeria. The company also controls Amperion Power Distribution Company Limited, the owner of the 414MW Geregu Power Plant located in Kogi state. In September 2015, Mercuria Energy Group, a Swiss oil and gas commodity-trading giant, acquired a 17 percent stake in Forte Oil for $200 million. Nigerian billionaire businessman, Femi Otedola, owns majority shareholding in Forte Oil.


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