Femi Otedola

Femi Otedola Biography / Profile

Femi Otedola was born in Ibadan, Oyo State, on November 4th, 1962, to Sir Michal Otedola, a former governor of Lagos State from Epe, and Lady Doja Otedola. Femi is an entrepreneur, philantropist and Chairman of Forte Oil PLC & Geregu Power PLC.

Femi Otedola Age

Femi Otedola is 61 years old.

Femi Otedola Early Life

Otedola grew up in Ibadan and Lagos, where he had his primary and secondary education. He thereafter, from 1980 to 1985 he studied at the Obafemi Awolowo University in Ile-Ife, Osun State where he obtained a university degree. While growing up, he also charge of his family’s printing press business.

Femi Otedola Career

In 1994, Otedola launched Centre Force Limited which specialized in finance, investment, and trading. He is also the CEO and President of Zenon Petroleum and Gas Limited. The company which he founded in 2003, supplies fuel to most of the major manufactures in the country including Coca Cola, MTN, Nestle, Unilever, Dangote Group and Nigerian Breweries. The company grew quite fast and by 2005 it was already controlling a major share of the Nigerian diesel market, it supplied fuel to a majority of the country’s major manufacturers including the likes of Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness.

In 2007, he was appointed as the CEO and chairman of Africa Petroleum which was renamed as Forte Oil Plc. He donated the sum of 80 million naira to the Faculty of Agriculture at the University of Port Harcourt in 2008. In 2011, he was appointed to Nigeria’s National Economic Management Team by President Goodluck Jonathan and as part of the liberalization of the sector in Nigeria, he recently invested in power generation. He is also the founder of FO Transport and Sea force Shipping Company Ltd, Swift Insurance, Atlas Shipping Agency and FO Properties Limited. 

Femi Otedola has proven himself to be one man that is never confined to a single line of trade or business. He has shown himself to be a jack of a lot of trades and master of all. He established Centre Force Ltd which specializes in finance, investments and trading, he also owns Swift Insurance. He is the second Nigerian after Aliko Dangote to be included on the Forbes list of dollar-denominated billionaires. He was also listed at number 29 as the richest man in Africa by Forbes Magazine in 2014.

Femi Otedola Personal Life

Otedola is married to Nana Otedola and together they have three daughters; Olawunmi Christy Otedola, Florence Ifeoluwa Otedola, Elizabeth Temi Otedola, and a son; Temi Otedola. His daughter, Florence Otedola best known as DJ Cuppy, is the tourism ambassador of Nigeria and a music producer. Another daughter, Elizabeth Temi is an established style blogger and designer. He owns houses in major cities of the world including Lagos, Abuja, Dubai, London and New York City.

Femi Otedola Awards

Otedola holds the Nigerian Merit Award for the Commander of Order of the Nigeria (CON)

Femi Otedola Net Worth

Femi Otedola is estimated to have a net worth of about $550 million

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