Femi Otedola is a one of the richest men in Nigeria at the moment. He is a businessman, philanthropist who’s given billions of naira to support positive deals, and entrepreneur. He owns several businesses in Nigeria, and is the father to DJ Cuppy. This piece of content is about Femi Otedola net worth, biography, background, and career as an investor, and businessman.
Femi Otedola Net Worth: Biography, Profile & Age
BIRTH NAME: Femi Otedola
CAREER: Entrepreneur, Philanthropist & Businessman
BIRTH DATE: 4th February, 1962
STYLE RATING: 2.5%
DISPLAY NAME: Femi Otedola
NET WORTH: $2.3 Billion Dollars
ENDORSEMENT DEALS: None Yet
Femi Otedola Net Worth
Femi Otedola has an estimated net worth of $2.3 billion dollars. He’s a billionaire businessman who is known to be the chairman of Forte Oil Plc. He’s one of the top oil importers in Nigeria today, and also one of the highest earning guys in the oil sector in Nigeria. Femi Otedola is also the founder of Zenon Petroleum and Gas Ltd. He owns and runs businesses from real estate, to shipping, and power generation.
He is the owner of FO Properties Limited, and a core member and financier of the PDP political umbrella in Nigeria. In 2005, Femi Otedola donated the sum of N300 million naira for the completion of the National Ecumenical Centre located in Abuja state. In 2007, Femi Otedola donated N200 million naira to SSTF (State Security Trust Fund) with regards to reducing the crime activities in Lagos state. Femi Otedola also donated the juicy amount of N100 million naira to the Otedola College of Primary Education, Noforija, Epe, in 2007.
In 2008, record has it that the billionaire philanthropically donated a whooping N80 million naira to the Faculty of Agricultural at University of Port Harcourt. He owns beautiful homes in London, Dubai, Lagos, Abuja, and other states. He also has fleet of cars that sell for multiple millions of naira. In 1994, the business mogul and philanthropist founded CentreForce Ltd – a company that deals in trade, finance, and investments. He’s president of one of the biggest shipping companies, SeaForce Ltd.
He was born Femi Otedola on the 4th of February, 1962 in Ibadan, Oyo state, Nigeria. He was born to late Sir Michael Otedola who was the Governor of Lagos state from 1992 to 1993. Femi Otedola worked under his family’s printing press as a marketer briefly before he delved into oil & gas business in 2003. After realizing an opportunity in the fuel retail marker, Femi Otedola founded the Zenon Petroleum & Gas Limited. He invested a lot of money into the company, and spent N15 billion naira in infrastructure development and acquisition of storage capacity.
In 2005, Zenon Petroleum & Gas was into business for real. It controlled a major market share of the diesel marker in Nigeria, and supplied fuel to big-time brands including Cadbury, Dangote Group, MTN, Guiness, and Nestle. In 2012, things went the wrong way as Zenon Petroleum & Gas was listed among oil companies involved in fuel subsidy scam, and was said to pay a sum of $1.4 million dollars to the Federal Government. In 2007, Femi Otedola purchased a large stake in the Africa Petroleum, and emerged the chief executive and chairman of the firm.
He led Zenon to purchase the Stallion House in Victoria Ireland, Lagos state from the Federal Government in the same year. In 2009, Femi Otedola became the second Nigerian (with Aliko Dangote being the first) to be listed by Forbes as a dollar billionaire as his net worth soared to $1.2 billion dollars. In December 2010, the Africa Petroleum was rebranded as Forte Oil, and the began generating heavy profit in 2012.
He is married to his beautiful and amiable wife, Nana Otedola. They’ve been blessed with four children – Christine Olawunmi, Elizabeth Temi, Florence Ifeoluwa (popularly known as DJ Cuppy), and Fewa. Two of his daughters are known famously in the entertainment industry of Nigeria. The first is Florence Ifeoluwa who is known as DJ Cuppy, a talented music producer and Disc Jockey. The other, Temi Otedola, is a fashion blogger and fashionista. Femi Otedola is one of the richest businessmen in Africa today, and his philanthropic activities have impacted over 1000 people.
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