Profile Of Femi Otedola and Net Worth: The Great Man of Influence

Profile Of Femi Otedola and Net Worth: The Great Man of Influence.

Femi Otedola is the Chief Executive Officer of Forte Oil Plc ranks as the second Nigerian in the Forbes list of dollar-denominated billionaires after Aliko Dangote. Otedola is widely known for his entrepreneurial spirit but he is not just a businessman, but a philanthropist.

The business mogul is a husband and father of four, Olawunmi, Tolani, Florence ( popular DJ Cuppy and Fees.

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It is only a good man that knows that another kind of investment is investing in people. In due time, it bears more fruit.

Severally he has made donations to the underprivileged knowing fully well they cannot pay him back.

Even with all this, he is still among those on top of the list of the world’s richest.

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Profile Of Femi Otedola and Net Worth

Things you should know about Femi Otedola:

  • Early Life and Education
  • Femi Otedola Net Worth
  • Career
  • Impact created
  • Achievements
  • Femi Otedola’s companies
  • Marriage Life

Early Life and Education

He was born on November 4, 1962, in Ibadan, Oyo State, Nigeria, and grew into a child with an entrepreneurial spirit. He is 58 years old. His parents were late Sir Michael Otedola, the Governor of Lagos State from 1992 to 1993, and lady Doja.

For his formal education, he attended Olivet Baptist High School. After that, he obtained his first degree at Obafemi Awolowo University Ile-Ife. His studies lasted from 1980 to 1985.

Femi Otedola Net Worth

Otedola is Worth $5.9 billion. He derives his wealth from the petroleum business.

Career

Femi’s business career has diversified into various industries; oil and gas, financial industry, big-time investor, and shareholder in various companies within and outside Nigeria.

From the start, his business mindset started when he was just 8 years old. Then, he had to cut the nails of his father’s friends and got paid. His business name was FEMCO.

After his studies, he became the marketing personnel for his family’s printing business. Some years later, he went into oil and gas by setting up Zenon Petroleum Oil and Gas Limited in 2003.

This business establishment has a 147,000MT storage capacity capable of distributing fuels to large manufacturing companies in Nigeria.

As his business boomed, Zenon gained shares severally from African Petroleum Limited. This paved way for him to become the Chairman.

With lots of improvement in management and technology put in place by Femi, African Petroleum Limited, later changed to Forte Oil Plc gained access to the global market.

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On the aspect of the financial industry, he is one of the major shareholders in Zenith and the United Bank of Africa (UBA).

Going by his business investments, he has acquired a lot but remarkably, he acquired real estate worth N2.3billion from the Federal government through the Zenon of Stallion House in February 2007.

He invested in power generation as part of the liberalization of the sector in Nigeria.

Femi continues to build and expand his business empire to date.

Impact Created

Femi in so many ways has touched lives and keeps touching lives up to this day. In the hall of those that have added value to people, Femi is on top of the list.

Why do we say so?

Just in 2005, Femi donated heavily towards the completion of the Numerical Ecumenical Centre, Nigeria’s primary place of Christian worship in Abuja. That same year, through his company Zenon, he donated N200m to Michael Otedola’s University Scheme fund and the scheme has helped more than 1,000 students.

In the year 2007, he gave an N200million donation to the State Security Trust Fund in a bid to curb crime in Lagos.

Also in 2007, he donated to Otedola College of Primary Education Noforija, Epe by giving the school N100million.

The University of Portharcourt wasn’t left out in benefitting from his philanthropic acts. He donated N80million to the Faculty of Agriculture.

In 2018, he pledged to build a fully furnished Faculty of Engineering worth N500million for Augustine University during their Fundraising and Founders day as the chief launcher.
He pledged 25,000 dollars to the Super Eagles in the match against Algeria in the 2019 AFCON and fulfilled it.

Achievements

Although Femi Otedola has achieved a whole lot by acquiring wealth in form of properties and money, there’s still a need to look at different appointments and companies his hard work amassed. They include:

  • He was the Chairman and Chief Executive Officer of African Petroleum Limited which was later changed to Forte Oil Plc with lots of improvement and pioneered by him.
  • In 2004, Femi was a member of South Africa’s commercial relationship development. committee.
  • He was the non-executive director of Transnational Corporation of Nig. Plc from 2006-2011
  • Otedola was the Chairman of Transcorp Hilton Hotel, Abuja in 2007.
  • In 2011, he was appointed a member of the Nigerians National Economic Management Team.
  • He is also the President of SeaForce Shipping Company Limited.

Femi Otedola’s companies

His first company after he left his family printing business is Zenon Petroleum and Gas Limited which he established in 2003. Others that followed are:

  • CentreForce Limited, specializing in finance, investments, and trading. Established in 1994.
  • Swift Insurance,
  • Forte Oil plc rebranded to Android PLC in 2020,
  • Gegeru Power Plc
  • FO Properties Ltd and some others.

Marriage Life

He is married to Nana Otedola with four children- Florence ( popular DJ Cuppy), Temi, Olawunmi, and Fees Otedola.

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