Femi Otedola (born on 4th November 1962) is a well-known/popular celebrated Nigerian billionaire businessman.
He is the owner of Forte Oil and was also the former chairman of Forte Oil PLC, an importer of fuel products.
He is also the founder of Zenon Petroleum and Gas Ltd, and he owns a large number of other businesses across shipping, real estate, and finance.
He recently invested in power generation as part of the support sector in Nigeria.
Real Facts About Femi Otedola
- Full Name: Femi Otedola
- Parents: Michael Otedola, Lady Doja
- Born: 4 November 1962 (age 54 years old)
- Place of Birth: Ibadan
- State Of Origin: Lagos State
- Nationality: Nigerian
- Children: DJ Cuppy, Fewa Otedola, Tolani, Temi Otedola
- Wife: Nana Otedola
- Occupation: Businessman • Entrepreneur
- Net Worth: $1.8 Billion
Femi Otedola Early Life & Education
Femi Otedola was born in Ibadan, the capital of Oyo State, southwest Nigeria, into the family of the late Michael Otedola, Governor of Lagos State from 1992 to 1993. His mother, Lady Doja happens to be a Nigerian entrepreneur.
He is the second son of four boys from his parents, he was raised in Lagos alongside his three brothers.
While growing up in Lagos, he had an intense passion for the priesthood and was wanting to study at the seminary school to become a priest in the future, although he later declined to venture into priesthood since he couldn’t give up his flair for business.
Femi Otedola regarding his educational background attended the University of Lagos staff school, and then he later proceed to Obafemi Awolowo University, Ile-Ife, Osun state where he acquired his first degree in 1985.
Femi Otedola Career
In 1994, Femi Otedola established CentreForce Ltd, which was specializing in finance, investments, and trading. He is also the owner of Swift Insurance.
In 2003, he identified an opportunity in the fuel retail market, he secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum distribution company in Nigeria.
He served as a member of the Nigerian Investment Promotion Council (NIPC) in 2004, and the same year was appointed to a committee tasked with developing commercial relations with South Africa.
Femi Otedola is the owner and chairman of Zenon Petroleum and Gas Ltd. He invested 15 billion in downstream infrastructure development in 2004 and acquired storage depots at Ibafon, Lagos State of which he also acquired a fleet of 100 Daf tanker trucks for 1.4billion In the same year.
In January 2006, he was appointed as a non-executive director of the transnational corporation of Nigeria Plc.
Femi Otedola has made a large number of real estate investments, including an N2.3 billion acquisition of Zenon of Stallion House in Victoria Island in Lagos in February 2007. In the following month, he was appointed chairman of Transcorp Hilton Hotel in Abuja. The same year he was also appointed as the chairman and chief executive of Africa Petroleum through the acquisition of a controlling stake in the business.
Otedola became the second Nigerian after Aliko Dangote to appear on the Forbes list of dollar-denominated billionaires, with an estimated net worth of $1.2 billion in March 2009.
Femi Otedola is the chief executive and president of Sea Force Shipping Company Ltd and was at one point Nigeria’s largest ship owner after he extended control over the distribution of diesel products.
Femi Otedola Children
- DJ Cuppy: A Nigerian entertainer whose real name is Florence Ifeoluwa Otedola (Age 29 years) (born 11 November 1992)
- Temi Otedola: A Nigerian actress, entrepreneur, fashion and lifestyle blogger, and designer. She is also known as JTO Fashion (Age 26 years) (born 20 March 1996)
- Fewa Otedola: The only son of the Nigerian billionaire, he keeps a private life (Age 21 years) (born 2 of June 2001)
- Tolani: A Nigerian singer and songwriter known for the song, Badman, her real name is Olawunmi Christy Otedola. (Age 36 years) (born 21 April 1986).
Femi Otedola Net Worth
Having worked really hard over the years and becoming a celebrated business mogul, Femi Otedola has a generated estimated net worth of $1.8 billion as was confirmed by Forbes.
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