By Oba Michael Soyebo
At a time like this, when the nation’s economy profile is heading south, the only way forward for businesses to stay afloat is through diversification. Presently, one of Nigeria’s leading oil marketers, Obat Oil and Petroleum Ltd, has joined the class of oil players venturing into other areas of business in order to keep its head above water. Prince Femi Akinruntan, the managing director of Obat Petroleum and one of the sons of Oba Obateru Akinruntan, the Olugbo of Ugbonla kingdom in Ondo State, has run brilliantly the affairs of Obat oil for almost a decade.
The intelligent man of style who recently clocked 40 has consolidated on his father’s impressive business profile. Not resting on its oars, Obat recently ventured into Liquefied Petroleum Gas(LPG) popularly called cooking gas. \ Unknown to many, Obat has a vast land at the Lekki Free Trade Zone where it is proposing a multi-million naira gas plant investment. The company is also sourcing for capital investment companies to invest in the diversified business.