The shareholders of African Petroleum Plc, had last week approved a proposal by the company‘s board of directors that its name should be changed to Forte Oil Plc with immediate effect.
The shareholders also approved the confirmation of Mr. Michael Odior Ahme the former acting managing director as the substantive managing director and Mrs. Omolola Segun-Idhahor was also confirmed as the new executive director, finance and information technology. 
According to a statement signed by Mr. Tajudeen Adeyemi the acting manager, coporate affair of the company noted that the company’s new name had already been approved by the Securities and Exchange Commission and the Nigerian Stock Exchange. 
With the development, the name of the company will be changed on the official list of the NSE from African Petroleum Plc to Forte Oil Plc.
The name change, according to sources in the company, is part of efforts to put the company on a strong footing, to enable it  compete favourably in the country’s petroleum marketing industry.
It was indicated in the statement  that the resolutions passed at the annual general meeting of the company last week, “Shareholders approved the change of name of African Petroleum Plc to Forte Oil Plc with immediate effect and the approval of the board‘s confirmation of Mr. Mike Ahme, as the new Managing Director/Chief Executive Officer of Forte Oil Plc.”
Mrs. Omolola Segun-Idahor was confirmed by the board as the new executive director, Finance and Information Technology of Forte Oil Plc and the re-election of three directors: Dr. Grace Ekpenyong, Mr. Chris Adeyemi, and Mr. Nebolisa Arah, were also approved at the meeting.
According to the statement, the approval of the appointment of two new directors, Deacon Philip Akinola and Mrs. Korede Omolaja, to the company‘s board was approved, while the re-election of Reverend Layi Bolodeoku, who had clocked 70 years of age, as a director, in line with Section 256 of the Companies and Allied Matters Act, 1990, was also approved. 
The 2009 Annual Report and Accounts and the reports of the joint external auditors and the audit committee were adopted alongside the appointment of new auditors.