Okonji Rejects $10B Offer, Grows GPC to Nigeria's Top Haulage Firm
GPC Energy and Logistics CEO Elvis Okonji rejected a $10 billion (10 billion naira) acquisition offer in 2019, choosing to grow the business independently. He used the rejected deal's momentum to professionalize GPC, replacing external accountants with a top-tier firm, establishing a formal board, and implementing rigorous corporate governance. This restructuring enabled GPC to enter the capital market in 2021, raising a $40 million bond to expand its fleet to nearly 1,000 trucks. Today, GPC stands as one of Nigeria's largest haulage companies.